I going to buy in the Kansas City MO Market. Who is out there?

Question

I really like what I see from the Kansas City MO area.  I'm definitely going to buy one or two houses out there this year and see how it goes.  I particularly like the areas North along I-29 (St Joseph Area) and East along I-70 (as far out as Warrensburg/Sadelia).  We drive through those areas a couple time every year on our cross-country trips.  I'm looking to hold the properties as rentals or airbnb if I can assemble the team.  Who is working out there? How do you like the market? Do you want to be friends?

Mike D'Arrigo · Answer

@Justin Pierce Kansas City is a great choice. We've been active there for nearly 10 years. We've done some deals in St Joseph which I like but I don't know Warrensburg/Sadlalia at all. My concern is that both have very small populations and are geographically isolated from Kansas City. What is it that interests you about those two? Have you considered some of the more centrally located suburbs of KC such as Independence, Raytown, South Kansas City, Lee's Summit and Blue Springs. We do a lot in those areas and they have had a lot of success.

Justin Pierce · Answer

@Melissa Robbins Thanks for the input.  Look for my friend request.

Justin Pierce · Answer

@Jon Huber I just sent you message.

@Matt K. That's interesting.  I've actually targeted the area around the University of Mary Washington in Fredericksburg VA. My daughter goes there and I'm paying $1,000 per month for her to share a tiny little dorm room. It's a real small school but it's near downtown Fredericksburg which I think is primed to grow and it currently has a lot of Traveling nurses and tourism so I can pay the higher prices because I have several options for increased rent: Home sharing, short term leases and vacation rentals.

Matt K. · Answer

If you going the smaller route, look up Mid-America Intercollegiate Athletics Association.  These are smaller schools DII, but still have good size student population in these towns. It'll give you more options similar to St Joe or Warrensburg.

My biggest challenge with these areas is that they're big enough to be tempting but not big enough it'd be worth building a team in each one and they're a bit to far to be included in the relationships I have in KC (on a consistent basis).

Also things are different in these small towns, take all the stuff from big cities and condense it down. Things like "bad areas" by reputation can make things harder then it needs to be based on limited residents. Or certain areas/streets will be ultra competitive because it's one of the few most people would buy...

message me if you'd like been in KC while and familiar with the smaller rural areas somewhat.

Jon Huber · Answer

@Justin Pierce @Mike D'Arrigo @Melissa Robbins @Sandy Magyar I'm actually selling 55 units in Saint Joseph at the moment. 34 plex that produces $15k gross rents, and 21 units that are vacant and need rehab. So there is both turnkey and value add. Send a msg if you'd like more info.

Justin Pierce · Answer

@Mike D'Arrigo My reasons: 1- I own a big motorhome (Mobile office for tax purposes.) We drive I-70 to i-29 to pick up i-80.  I'd prefer to not have to go too deep into KC to check on properties.  2- Having properties that area helps solidify my tax write offs. 3- I general I like towns that are currently on the fringes of the big cities.  I think population is going to trend that way as people get more telework capabilities and as cities become more expensive and high in crime. 4- I specifically like Sedalia/Warrensburg because of the Air Force base.  I've visited it numerous times. 5- I appears I can hit a basic 1% rule in those areas so I don't bleed to death waiting for the sprawl to reach.

I do also very much like Lee's Summit and Blue Knob.  I'd jump on a good deal in those area.

Justin Pierce · Answer

@Sandy Magyar I just sent you a friend request.

Melissa Robbins · Answer

@Justin Pierce I own three rentals and looking to purchase more. I'm happy to share my experience with you. I agree with @Mike D'Arrigo on the areas. I own one in Blue Springs and like that area a lot.  I also like the Northland area in Park Hill schools. Connect with me and let's chat.

There is talk of one of the stadiums moving downtown so trying to understand the future opportunity of some of the older markets that some investors have ignored.

I going to buy in the Kansas City MO Market. Who is out there?

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