Multi-family near Kansas City, MO

[Rick Novotny]

Hello BP!

I'm looking for multi-family properties in KC. I currently own 7 units in that area. Nothing on the market at the moment is any good or way overpriced to make a profit. How do I find off market properties? Should I wait or start reviewing single family properties as well?

The cities I like to buy in are:

Raytown, MO

Independence, MO

Grandview, MO

Belton, MO

Raymore, MO

I would like to keep my next couple deals somewhat nearby so I can use the same management company, but I will take other areas into consideration.

[Luther Wilson III]

Hey, @Rick Novotny, we're here on the ground in and around the KC area doing all kinds of fun real estate activities.  I'd be happy to talk shop with you and give you some pointers about what to do here.  I'll tell you like all the investor-buyers who I talk to about finding deals here:  If you want to TRULY find the best deals that you can, then you'll need to FIND A WAY to get into DIRECT CONTACT with the OWNERS of theses properties.  This may sound a bit strange because I am a real estate broker as well, and I do enjoy getting paid my commissions, but your best bet is to deploy some type of marketing to attract the motivated sellers for the types of properties you'd like to purchase.   :) This way when you find a deal that's worthwhile you won't necessarily have pay a realtor commission on top of a wholesale fee or the like.

There are resources out there (websites & data companies, squeeze pages, facebook & instagram marketing, radio & tv ads, direct mail postcards & yellow letters,  and on and on and on) that'll help you find & attract these motivated sellers.  If you choose not to utilize them that's your choice...  You can continue to work with wholesalers and realtors that care MOSTLY about their commissions or fees and not so much about the success of their clients.

The market has shifted here and there are TONS of buyers waiting on the sidelines and contacting agents & wholesalers on the regular to do the "dirty work", so to speak.  Just know that you can surely find good deals with realtors or wholesalers but know that they'll be less willing to bargain with you because they know if it's truly a great deal they'll find a way to do it themselves or they'll tee it up to the highest bidder.  :)

-Luther