Location independence and rental properties.

[Nick Polson]

Hey everyone!

I'm from California, but I will be moving to Kansas City Missouri in 3 months. I have a few goals for my real estate investing journey. I want to become fairly location independent through buying and managing rental properties. 

As this will be my first time seriously looking into the real estate market for rental properties in the Kansas City area, I wanted to ask you for any pointers.

What is the real estate market like in the Kansas City area?

What does the price look like for an average 3-plex to 6-plex?

How much could I expect to get for rent in the Kansas City area for the above mentioned property sizes?

Any help or advice would be great as I am very close to being able to purchase my first property.

[Fabio Salas]

@Nick Polson I own a couple rentals in AZ and San Diego, but lately I've been researching the St Louis market.  That said, in my research of the St Louis market I've come across a lot of writing regarding the KC market.  From what I've seen the KC market is very similar to the St Louis market.  Prices vary greatly though depending on which neighborhood in KC you're wanting to invest in.  You can find a decent triplex in KC that will meet at least the 1% rule for about $150,000-$200,000; double that for six plex.  However, keep in mind that purchasing a six plex is not the same as purchasing a triplex in the sense that anything above a four plex is considered commercial real estate.  Therefore loans, taxes, interest rates, forced appreciations, forced rent increases are different from each other.  Food for thought as you decide where to invest your money.