Investing in Kansas City: A City Poised for Growth
Kansas City has long been celebrated for its rich culture, which includes world-famous barbecue, a legendary jazz scene, a thriving arts culture, and a dynamic business community. As the city continues to grow and evolve, exciting new developments are underway.
A $1.5 Billion airport renovation was just completed this March, offering a state-of-the-art facility that will enhance the travel experience for both visitors and locals.
Coming up in April, the city will also host the NFL Draft, bringing in thousands of visitors and putting Kansas City in the national spotlight. While we're talking sports, a new stadium for the KC Women's MLS team will be constructed by 2024, providing a world-class facility for both the team and its fans.
Also in 2024 Meta’s (Facebook) $800 million hyper scale data center is set to be completed in North KC.
By 2025, a $330 million streetcar extension will also be completed, enabling more convenient and accessible transportation throughout the city.
Perhaps the most significant development of all is the announcement that Kansas City will host the World Cup in 2026. This event will bring in visitors from around the world, showcasing the city's vibrant culture and welcoming atmosphere on a global scale.
Within investment circles, Kansas City has earned a reputation for cash flow, and rightfully so. However, investing in a region that lacks potential for growth is unwise. Fortunately, growth is not a problem in Kansas City. As an Investor in the area, I consider myself very fortunate to be at the right place at the right time, and I’d urge other investors looking for a new market to consider KC as well.
Couldn't have put it better, Alex. This is the time to get in before it's too late!
Thank you for posting all of those updates to check out! Not to mention, I hear we're getting an NBA team by 2025...
Nice post Alex... sounds like things are poised for the upside. @Wyatt Seidel I hadn't heard about a potential NBA team...
Hey Alex thanks for all the insight. I'm actually looking to invest out of state, and KS was one of the markets I was looking at. What areas would you say are seeing growth, and parts to stay away from?
Quote from @Warren Buan:
Hey Alex thanks for all the insight. I'm actually looking to invest out of state, and KS was one of the markets I was looking at. What areas would you say are seeing growth, and parts to stay away from?
Hi @Warren Buan, for areas to invest in or areas to avoid, I think starting with zip code makes sense, but then drilling in further is a must because there can be a good amount of variance within a zip code. @Lee Ripma had a great breakdown here. https://www.biggerpockets.com/...
if you’d like the spreadsheet, or if you have any other questions about KC just send me a dm, happy to help.
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Great news!
We've been involved in the Kansas City market for about 10 years and it has been great. All of the things that @Alex Gunnerson mentioned are a testament to what makes it a great market and major reasons for why it is a strong STR market. You don't have to be in one of the popular vacation destinations to be successful with short term rentals. You just need to be in a market that gets a lof of visitors and KC get over 24 million visitors a year.
Wow looks like you are really on to something with Kansas City:
ROI: 9%
Low number of existing Airbnb's
Average Airbnb Price is only $214K
65% Occupancy
Source: Airbnb Market Data
@Warren Buan I’m a full time investor in KC. I would love to chat with you about the market.
What are you thoughts about this property?