Turnkey Kansas City

[Christle Stezskal]

My husband and I have been researching real estate investment opportunities for about 6 months now and we’re hungry for our first deal. We’re from the Chicago area but are looking for out of state investments.

We think some sort of turnkey opportunity may be best for our first deal. We’ve talked to a couple different providers and have looked at true turnkey and also upfront rehab turnkey options.

We have been most serious about the Kansas City market but we’re wondering if anyone has experience that they would be willing to share? Specific to Kansas City would be great but if you’ve got an amazing reference in another market, we would love to hear!

Thank you in advance!

Christle and Alex

[James Wise]

Originally posted by @Christle Stezskal:

My husband and I have been researching real estate investment opportunities for about 6 months now and we’re hungry for our first deal. We’re from the Chicago area but are looking for out of state investments.

We think some sort of turnkey opportunity may be best for our first deal. We’ve talked to a couple different providers and have looked at true turnkey and also upfront rehab turnkey options.

We have been most serious about the Kansas City market but we’re wondering if anyone has experience that they would be willing to share? Specific to Kansas City would be great but if you’ve got an amazing reference in another market, we would love to hear!

Thank you in advance!

Christle and Alex

 Welcome to the site folks. I don't have any market specific info for you but just wanted to shoot out a punch list of things you should do when buying your 1st out of state rental property. Follow this punch list & you'll keep your risks as low as possible no matter which turnkey market you choose.

• Don't buy in the roughest neighborhood in the urban core. Pick a solid B-Class suburban area. Perhaps a nice 1950's built bungalow.
• Always hire a 3rd party property inspector to give you an unbiased feel for the home. The reports are 40-90 pages long and go through the entire house in great detail.
• Get an appraisal. If your using financing the bank requires this. This is good. The bank isn't going to let you blow their money. They have more skin in the game then you do.
• Make sure you get clear title. If using a lender this is a non issue. They will make you do this. It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.
• Make sure your property manager is a licensed real estate brokerage.
• Understand you can not eliminate all risk, only mitigate it. If you are risk adverse real estate, (especially out of state) is not for you.