Couple with capital interested in out of state rentals

[Matt Goudreau]

We have not purchased a rental property before. We are looking to buy a few in the midwest, preferably in the Kansas City area because I have family still there (making visits would be a two-birds one-stone trip). We currently live in Alaska. We've looked into Norada Real Estate because "turn-key" rentals seem good for the first one or two especially long-distance.

Do BP members recommend Norada in this case or have first timers done well on their own being long distance?

We would also like to make connections in the KCMO area for help in our property search

Excited to join the BP community

Laura and Matt

[Marco Santarelli]

Hi @Matt Goudreau-- Welcome to BiggerPockets.

Just to address your question, turnkey rentals are a good option for most people, especially those who are looking for a more passive investment strategy and maybe don't have the experience or contacts to actively build a real estate portfolio from a distance.

If ultimately you plan to be a more active real estate investor where you assemble a team, acquire distressed properties, renovate them, and place them under management, then you can grow into that role.

Many if not most investors opt to stay on the passive side so they can focus on their family, career, and lifestyle activities.

Remember, having the right TEAM is critical.  So if you can move towards achieving your investment goals while working with the right team, you'll be far better off than trying to do it alone. 

Kansas City is a great market. One we are very active, and help investors acquire a lot of property in. I am personally in escrow on three properties there myself right now.

I have a lot of great contacts and resources in KCMO if interested.  Just send me a private message or contact my team. 

Continued success!