Purchased Duplex in Prime KCMO for STR

[Landen Hawk]

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $625,000

Purchased large duplex in prime location of Kansas City, MO, 1-2 blocks from the Country Club Plaza. Inheriting long-term tenants, but will convert both units to STRs in the Fall 2023.

What made you interested in investing in this type of deal?

We've had incredibly strong success with STRs in the general area of KCMO.

How did you find this deal and how did you negotiate it?

Property was on MLS for quite some time. We expressed interest several times, but they wouldn't budge on price. Eventually, we were able to get them down to our number and closed the deal.

How did you finance this deal?

25% down Conventional w/ a local bank that finances all of our deals.

How did you add value to the deal?

We'll do some minor cosmetic upgrades - interior paint, light fixtures, hardware, etc. - but the real value is our proven STR strategy/blueprint that will guide us to a substantial cash flow once they're fully functioning.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I am a Real Estate Advisor w/ Bash & Co. Sotheby's International Realty and am in charge of acquisitions and analysis for our small investment group. I'm licensed in KS and Mo and also work with many investors, both local and out-of-state, to assist them in building investment portfolios here in the KC area, regardless of strategy.