First SFR in Kansas City, MO

[Katy C.]

Hey all!

So today I have made a little progress toward my first SFR purchase in KCMO. I think I've found a realtor to work with, but I'm still confirming whether he's the right guy for me, since I'm looking at a lower price range and have some pretty high standards and would like to build a 3-5 unit portfolio in the area. I'm planning to get a prequal this week so that I can move quickly on the right opportunity.

About me: I'm living in San Diego, where I was born and raised. I have one SFR renting with positive cash flow in AZ, which is the house I lived in for 4 years before coming back to SD this year. However, if I was crunching the #s today, it wouldn't meet my 2% target for rent to unit cost, so I probably wouldn't buy the house again!

Any words of wisdom or recommendations about where / how to look for a place? I'll also need a property manager when this is all said and done.

Thanks!

Katy

[Seth Wilson]

I wholly reject the 'outside 435 loop', I own multiple, multifamily buildings and I make a lot of money on them plus force significant appreciation. Yes, there are some areas that are dicy but welcome to America! I have a solid PM and know my market though, so I can buy in areas others wouldn't because they aren't familiar with real estate cycles, or aren't willing to do the work. 

With that yes, I know a PM as well as an attorney that is an old pro are KC real estate.

Finally, don't believe everything you read in spite of their intentions.