Kansas City

Kansas City

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.

Look forward to hearing.

Have a great day

Philip Charlton

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Specialist · Orange County, CA · Member since 2008 · 2k+ posts · 623 votes
11y
Originally posted by @Account Closed:
 

I am looking into investing in KC as well and was wondering if anyone has any thoughts on the appreciation in the area and the exit strategy? 

Hi Doris: 

Our 1-year forecast is expected to be around 4.0%.  Smooth and steady growth for a Midwest market.  (Refer to my podcast episode #006)

Your exit strategy will be based heavily on your investment strategy and goals.  The market will play into that somewhat.

Continued success!

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  • 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. 

  • Gordon CuffePro Member
    Investor · Roseville, CA · Member since 2009 · 1k+ posts · 583 votes
    11y

    @Philip Charlton

    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 · Sheidow Park, South Australia · Member since 2015 · 50 posts · 12 votes
    11y

    Hi Thank you responding I wish to learn more

    I am new to Bigger Pockets so I am unsure about private message.

    Thank you again

  • 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!

  • Investor · Burbank, CA · Member since 2015 · 42 posts · 11 votes
    11y

    I am looking into investing in KC as well and was wondering if anyone has any thoughts on the appreciation in the area and the exit strategy?

  • Toronto, Ontario · Member since 2014 · 615 posts · 172 votes
    11y

    @Philip Charlton

    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....

    Happy investing!

  • Specialist · Orange County, CA · Member since 2008 · 2k+ posts · 623 votes
    11y

    Hi @Philip Charlton

    Welcome to BiggerPockets!

    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.

    Continued success!

  • Specialist · Orange County, CA · Member since 2008 · 2k+ posts · 623 votes
    11y
    Originally posted by @Account Closed:
     

    I am looking into investing in KC as well and was wondering if anyone has any thoughts on the appreciation in the area and the exit strategy? 

    Hi Doris: 

    Our 1-year forecast is expected to be around 4.0%.  Smooth and steady growth for a Midwest market.  (Refer to my podcast episode #006)

    Your exit strategy will be based heavily on your investment strategy and goals.  The market will play into that somewhat.

    Continued success!

  • 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.

  • Mike D'ArrigoPro Member
    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.

  • Investor · Cincinnati, OH · Member since 2013 · 2k+ posts · 1k+ votes
    11y

    @jie 

    @Jie Li another KC convo for you! 

  • Fremont, CA · Member since 2015 · 50 posts · 7 votes
    11y

    @Joe Fairless

    Thanks! I do searching for a turnkey property in Indy, KC, or OH for my 1031 exchange.

    Jie

  • Investor/RE Broker · Eugene, OR · Member since 2014 · 3k+ posts · 968 votes
    11y

    @Philip Charlton

    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.

  • Anthony GaydenPro Member
    Rental Property Investor · Omaha, NE · Member since 2014 · 2k+ posts · 3k+ votes
    11y

    KC is a good market, something us locals have always known. I know KCK/Wyandotte County like the back of my hand and can tell you what areas to avoid.

  • Investor · Kansas City, MO · Member since 2014 · 90 posts · 19 votes
    11y

    @Mike D'Arrigo

    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 · Cleveland, OH · Member since 2012 · 145 posts · 39 votes
    11y

    @Philip Charlton

    Congrads on your new venture and best wishes.

    The BP family comes with a lot support just always do your due diligence on every deal.

    Good luck.

  • Investor · Sheidow Park, South Australia · Member since 2015 · 50 posts · 12 votes
    11y

    @Larry Fried

     Thanks for the advise I really appreciate the information.

    It sounds like Kansas is an up and going area

    Cheers 

  • 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.

    Thanks @Marco Santarelli @Mike D'Arrigo  @Carrie Hallensleben  @Joe Fairless and @Larry Fried for your comments and experience too!

    Good luck to all in your real estate endeavors!

  • 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.

    Continued success!

  • Investor · Sheidow Park, South Australia · Member since 2015 · 50 posts · 12 votes
    11y

    @Account Closedundefined 

    Thank you for the info on Kansas City it appears to be a good place to investigate further.

    Cheers

  • Professional · Carlsbad, CA · Member since 2012 · 12k+ posts · 1k+ votes
    11y

    @Philip Charlton

    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.

  • Cleveland, OH · Member since 2015 · 42 posts · 13 votes
    11y
    Originally posted by @Philip Charlton:

    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.

    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! 

    Cheers

  • Cleveland, OH · Member since 2015 · 42 posts · 13 votes
    10y
    Originally posted by @Philip Charlton:

    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.

    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!

  • Mike D'ArrigoPro Member
    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.

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