Investing in the Kansas City Market

[Isaac Hanai]

Hey I am looking to get my first Multi-family investment in Kansas City and Missouri area. Looking for building from 1950-2010 anywhere from 10-100 units. Ideally a 3 star and under. I am an out of state Investor and I know a lot of you live and invest in Kansas City/ Missouri.

What have you been paying for utilities? How much are you having to pay the management companies? How much are you having to pay staff, ect?

Any referrals or recommendations for good and qualified brokers, sellers, property management companies, loan brokers, insurance brokers, mortgage brokers, contractors, etc. Would be much appreciated.

Thank you in advance and looking forward for any advice! Excited to join this market and work with you all!

[Alex Olson]

Property management is typically 8%. Leasing is around 2%. If you buy more townhouse style which is what I recommend for first time investors into kc you have no utilities that owners pay other than vacant. You will pay a bit for lawn care and it is up to you if you want to do snow removal. I am a broker here in KC that works with multifamily investors. There is a great network of service providers here in KC.