Hi from Kansas City

[Mitch Rice]

Hey everyone!

My name is Mitch Rice and currently live with my wife and wonderful kids in Lenexa which is a suburb of Kansas City. Last October, we moved out of our first home (a duplex) and instead of selling it we decided to rent it.

6 months later it's safe to say we've been bitten by the REI bug. We currently have a contract on a turnkey property in KC and are hopefully going to make an offer tomorrow on a full duplex that will be our first rehab project. If all goes well, we'll be able to purchase one more (for a total of 4) by year end.

Currently I work at a large technology corporation in the area and my 10 year goal is to replace my current income with rental properties. Over the course of these 10 years, we'll be mainly investing in buy and hold properties but are also interested in doing 1 to 2 flips per year.

I've been lurking on BP for the last several weeks and am excited to join the community as an active member. I'm always up for coffee or a meet-up if anyone in the local Kansas City area is interested.

Mitch

[Mitch Rice]

@Larry Fried Thanks Larry! I feel pretty fortunate to be in a strong investment market. I recently saw an article ranking KC as the 6th in best rental market in the US. http://www.bizjournals.com/kansascity/news/2014/02...

@Cliff Harrison My current place is in Kansas City, KS by the Kansas Speedway and the new Cerner buildings. My other (hopefully) soon to be rentals are in Overland Park. Since I'm in it for the long haul, I'm planning on mostly sticking to the Shawnee, Lenexa, Prairie Village, and Overland Park areas in B+ to A- areas. 

However, the Raytown area intrigues me with the really strong cashflow and COC return numbers that most turnkey providers report. I may try one over there but I'm a bit nervous about the potential hassles associated with owning in a rougher part of town.

Mitch