What realistic CoC ROI to expect currently in Wichita, KS?
Good afternoon/morning to you all BP members!
I am a newbie and after long period of learning and analyzing, I am finally ready to get my first rental property.
I have chosen Wichita, KS for reasons that I have listed in my previous postings. So my question here is to know from RE investors in the Wichita, KS area what realistic ROI I can expect to get currently in that market?
I have been working with a realtor and he's been really helpful, however from listings I have seen so far either from him or my own researches, it seems like to get even 8% CoC ROI after all expenses is quite a task. So I was wondering maybe it is just the current market and I should be patient with it. My initial goal was to shoot for 15% ROI at least, however I have started lowering my expectations.
I wanted to hear from investors in that market, is it realistic to get such ROI in Wichita, KS currently. We have been looking for almost turn-key properties with little repair required since I live out of state and I wanted to stay way from big projects for my first property. I'm visiting Wichita in 2 weeks for a week and I'll spend time trying to visit some properties and get a sense of the market myself.