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Updated about 8 years ago, 09/14/2016
New member from Kansas
I am a new member. I am interested in renovating houses and renting them out. We live right next to Fort Riley. Rents are really high in this area.
Welcome to BP, Paul. There's a wealth of information here and the real life scenarios discussed are invaluable.
Thank you Kevin. I have found about 5 or 6 houses between $17K and $35K that need some repair work done. The $35K is actually an apartment complex with 3 1br, 2 2br, and 1 3b. I will just keep reading the blogs and posts to get an idea on how to get started. I work a full time job and attend college online for my MBA, so not much time and no money to get started.
Paul, welcome to BP! I'm not completely familiar with JC but I do know they have areas you probably don't want to invest in. Also if the gov decides to pull the Big Red One out of Fort Riley the rental and housing market will have a flash crash. With the price tag you mentioned it more than likely is worth a look but only for cash flow and not appreciation. I would be happy to help you dig deeper.
@Paul Slaght welcome and be careful up there in Junction - if the new president decides to make major military cuts or we get in a new war etc with your proximity to Ft Riley the rentals up there could be cyclical. I havent studied the area much but what little I do know is it operates on a different wavelength to some extent due to the amount of military personnel there.
I believe with the drawdown of troops from overseas areas around Junction 2-5 years ago were on a building boom - not sure if it's still happening like that or not.
Originally posted by @Dustin Hawks:
Paul, welcome to BP! I'm not completely familiar with JC but I do know they have areas you probably don't want to invest in. Also if the gov decides to pull the Big Red One out of Fort Riley the rental and housing market will have a flash crash. With the price tag you mentioned it more than likely is worth a look but only for cash flow and not appreciation. I would be happy to help you dig deeper.
Dustin,
I totally understand what would happen if they decide to close Fort Riley. I don't really want to cater only to soldiers anyways. There is always a need for a quality rental. I agree that it would be more for cash flow. I would like to get something started and then eventually turn to flipping and selling just to get myself out of the job that I currently do.