Scarritt Renaissance Fourplex

[Kevin Yoder]

Investment Info:

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

Purchased this fourplex in the Scarritt Renaissance with a friend, with him bringing the money and me bringing the deal and asset management piece. This property will be a success if we can successfully reduce utility costs from $150/unit/month at all (while not reducing rents) or getting any rent appreciation in the area, which we LOVE.

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

Craigslist directly with the owner

[Kevin Yoder]

@Brett Rounkles, @Chris Trupiano one the area:  the further north and west the better.  We're a few blocks from the KC Museum and half a block off Gladstone Blvd.  Those houses on Gladstone are in the $200k+ range so you know you're getting good neighbors there.  Also, the development on Independence Ave should only encourage people to move to these more affordable areas close to downtown.  In the meantime, the rent to price ratios in the area are great, so get some good tenants and you're set.  I say that, we just purchased last week, so we'll see!