Investor · Sheidow Park, South Australia · Member since 2015 · 50 posts · 12 votes
Hi
I am Philip Charlton I am new to Bigger Pockets plus I am Aussie investor. My Plan is to get into the multi family units but need to start small have been show a few properties in Kansas City. What is Kansas like, is it a good area to look at investing? Is there bad areas to stay away from?
Any info, help, if there are investor looking to partner with an Aussie I am very keen to engage.
Investor · Kansas City, MO · Member since 2014 · 90 posts · 19 votes
11y
hi Phillip!
I have been living in the Kansas City area for over 20 years. I've lived in midtown/plaza and now up north. There definitely are many areas that are difficult to invest in.
I'd be happy to talk more if you'd like to private message me.
I live in CA and invest in Kansas City because of the lower price point and much better cash flow. I would be happy to tell you about what zip codes are in the war zones and any other info that I have learned.
Investor · Shawnee Mission, KS · Member since 2013 · 82 posts · 12 votes
11y
@Philip Charlton-Kansas City is a great market and there are several Turnkey providers here on BP that are active in KC. I would definitely recommend hooking up with them to find the best deals. Being local in KC myself I can find the deals through wholesalers or the MLS that need repairs and manage the project myself, but that would be a little difficult being overseas.
Good luck and if there is anything I can help you with, let me know!
Welcome to BP and here is my 1 cent on Kansas City....
I love KC.......It is great for REI
Affordable properties
39.4% of population are renters
Cost of living is 20% lower that US average
Major information and logistics hub for the Mid West
Cost of housing is 20% lower that US average
For your information, I do not live in KC; I live in Toronto and I invest out of state, but am willing to increase my portfolio in KC from the results I have had so far....
I am not an authority in KC REI, but I did a lot of reasearch before choosing KC and I have no regrets....
Kansas City is a very good market to invest in because there is growth, jobs, and the property values are such that it's not "expensive" so the rent-to-value ratios provide good returns on your investment.
We've been in Kansas City for about 7+ years now, but the last 2 years have been very active. It has become our client's (investors) favorite choice and our #1 market right now.
The Midwest is generally like that though. Attractive numbers but the market and areas need to makes sense FIRST.
Feel free to post any other investing questions you have.
Investor · Kansas City, MO · Member since 2014 · 90 posts · 19 votes
11y
@Phillip Charlton
We've been investing for 15 months now and started slow to learn and replenish our HELOC loan each time. We did the BRRR method that has been talked about on here with Buy, renovate, rent, refinance. Now we are starting to look at multifamiles (triplexes or fourplexes) and may consider partnering or seeking private lending to grow more than we could on our own. I'm not familiar with all areas of Kansas City (a lot of folks invest in Grandview and Independence). I don't know those markets enough to take risks there. We stick with what we know which is up north and midtown.
You are welcome to reach out anytime! I think you can private message by going into the persons profile and selecting send message.
@Brady Hanna
@Brady Hanna I also would be interested in any wholesale deals you have so can you put me on your list of contacts? Thanks!
@Marco Santerelli @Ndy Onyido and @Gordon Cuff
It is great to hear from folks like you who are working successfully in this market even long distance. I feel grateful to live in such a good market.
Turn key provider · San Jose, CA · Member since 2010 · 4k+ posts · 3k+ votes
11y
@Carrie Hallensleben You are fortunate to be in a great market like Kansas City. KC is on fire now. The only thing I would caution you about multi families is to be very picky about the location. Multifamily has some unique challenges that you don't always have in SFR. Stick to the better neighborhoods. You can do pretty well in Grandview and Independence.
I believe KC is a good investment market right now, but you do need to be particularly careful with multis, as more often than not they are in difficult areas. My suggestion is to look to SFR when investing at a distance in the Midwest, at least for your early investments.
I don't doubt that Independence and Grandview are wonderful areas for investors however, I am not comfortable venturing into areas that I am not familiar with. The area we invest now is in a sought after school district of Park Hill. It is a 5 minute drive from home to get to the two we have.
As far as midtown goes, I am quite familiar with that area as I lived there for nearly 10 years as both a renter and home owner. I know it street by street where the hipsters live, where it gets rough which by the way, our first home was between Troost and Paseo just south of 39th on a diverse and wonderful block but as you probably know, next door/a pocket within what can be a war zone. I also taught for five years at a charter school east of Paseo in the urban core serving families living in high poverty.
I very much appreciate your caution about investing in and around KC. I don't think anyone who is not familiar with the area should go in blind. I also value your experience with multifamily. Before I move toward making any offers in or around midtown, I have much learning to do about vacancy rate, cap rate, and much more that I don't even know that I need to know. That's where experts like you and others on this site come in. :)
Investor · Kansas City, MO · Member since 2010 · 239 posts · 110 votes
11y
@Philip Charlton "Kansas City" is a huge metropolitan area. Not only does it comprise 2 states --- Missouri and Kansas ---- it also comprises many local counties such as Platte, Clay and Jackson Counties on the Missouri side and Johnson and Wyandotte Counties on the Kansas side.
Personally I know Kansas City can be great for fix/flip, wholesaling, rentals, and more. I have been an active investor and a real estate Broker both for more than a decade in the Greater Kansas City area. Area determines the best benefit. Some areas are great for flipping. Many areas are great for rental properties. A few areas you probably want to stay away from altogether as an out of state/country investor. Best to do your own due diligence there is a lot of information readily available.
There are both single family homes and multifamily units readily available in all areas of the metro area --- the good, the bad, and the ugly.
The key to any of investing as an out of state/country investor is the right property manager. Regardless the cash flow, the deal, the profit, if you don't have good property management your investment will be ran into the ground. If flipping then a good project manager.
Specialist · Orange County, CA · Member since 2008 · 2k+ posts · 623 votes
11y
Originally posted by @Account Closed:
The key to any of investing as an out of state/country investor is the right property manager. Regardless the cash flow, the deal, the profit, if you don't have good property management your investment will be ran into the ground.
So true, and spot on. I jokingly say you "live and die by your property manager". You're better off having a property in a "C" neighborhood with an "A" property manager than having it the other way around.
Welcome to Bigger Pockets. BP is full of resources. You will find resources here from blogs to pod casts and forums. You can also send messages to members. This is one of my favorite features of Bigger Pockets especially for asking specific questions.
I am Philip Charlton I am new to Bigger Pockets plus I am Aussie investor. My Plan is to get into the multi family units but need to start small have been show a few properties in Kansas City. What is Kansas like, is it a good area to look at investing? Is there bad areas to stay away from?
Any info, help, if there are investor looking to partner with an Aussie I am very keen to engage.
Look forward to hearing.
Have a great day
Philip Charlton
Hi Philip! My name is Charles. I am based in Cleveland, Ohio (Another good spot to own rental property by the way.) I am a wholesaler and as it stands I have access to a few turnkey, cashflowing single family properties in the Kansas City area as well as other cities in the Midwest. Lets connect. And if you ever spark an interest in Cleveland drop me a line!
I am Philip Charlton I am new to Bigger Pockets plus I am Aussie investor. My Plan is to get into the multi family units but need to start small have been show a few properties in Kansas City. What is Kansas like, is it a good area to look at investing? Is there bad areas to stay away from?
Any info, help, if there are investor looking to partner with an Aussie I am very keen to engage.
Look forward to hearing.
Have a great day
Philip Charlton
I actually have access to some off market rental properties in the Kansas City Area. I will definitely be in touch.
Lender · Kansas City, MO · Member since 2015 · 103 posts · 28 votes
10y
Kansas City is a great market area to invest in, the surrounding areas, Blue Springs, Independence, Raytown are all great areas as well. The price of living the amount of renters in the area, the social anchors that are in the area creates a thriving community. It is really growing!
Turn key provider · San Jose, CA · Member since 2010 · 4k+ posts · 3k+ votes
10y
I agree with @Karen Barber and it's only going to get better with the Cerner project that broke ground last year at the old Bannister Mall site. This is a great area for rentals.