IS THERE A SELL OFF IN THE KCMO \ RAYTOWN AREA ??

IS THERE A SELL OFF IN THE KCMO \ RAYTOWN AREA ??

Rental Property Investor · Fremont, CA · Member since 2015 · 67 posts · 30 votes

So I just wanted to pick the minds of my fellow investors, regarding an interesting trend I noticed. I have a rental property in Raytown area, and we recently purchased it ( less than 2 months ago ) the question I have is, when I was buying it, it was from an investors who was selling 3 separate duplexes ( 6 units ) and I didn't think much of it, just someone unloading a portion of their portfolio. My business partner was more skeptical, asking why would he sell if the market is so good? Then today, I was browsing the craiglist ads cause we have a tenant moving out soon and I wanted to see what other units in the area are renting for, when I came across an add for another investor, dumping 6 + units, offering seller financing and everything. I am wondering, am I missing something? Is there cause for concern? is there something going on in the KCMO that I don't know about? I am probably just paranoid, but it doesn't hurt to ask. Seeing 10- 12 investment properties getting dump by investors isn't really a "fire sale" or "sell off" but I just wanted to see if this is a clue toward something, or just me overthinking thinks in Kansas?

What do you guys think?

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  • Investor · Independence mo · Member since 2011 · 165 posts · 49 votes
    10y

    They are likely selling them to make money. Was probably bought in 08-10 when you could buy stuff for nothing if you had cash. Selling now because financing & prices are at a high with all you out of state buyers. You know the old supply & demand thing. I would be interested in seeing the owner finance ad if you have it? Thanks.

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