Originally posted by @William Robison:
Pay close attention to the demographics of the neighborhood that you are buying. Expectations within each are as expected, but as much as the provider will share details, its always good to ensure that your expectations are met. Our company has a lot of focus in Lees Summit, Blue Springs, very defined areas of Independence, for reasons that I just explained. Independence, as just a single example, has homes ranging from $50k to $400k. Its a broad area. The location within the suburb is as critical as the suburb itself. We also work in areas of the northland, very small, specific areas of Grandview, Grain Valley, Liberty and more. Over the years, we have refined and changed our expectations within these areas so we locate properties that meet the expectation of the investor. Kansas City is on the heels of Denver and I-25 real estate. We are lagging, but I see us landing in a similar spot. What that means is that we have room for appreciation that I-25 already experienced.
Best wishes with your investments. Let us know if you have any questions we can assist you with.
The median home price in KC is about $160k, while in Denver it is about $460k. I don’t see KC getting anywhere near that range in my lifetime or my 6 years olds, but KC is a great market for cash flow and appreciation. Having lived in both cities, there are many similarities and KC reminds me of Denver circa 2005-2008, but it will never see the growth Denver has experienced the last decade. Be careful where you invest, as William suggests. Zips and towns vary greatly from neighborhood to neighborhood and a lot of people find their niche area and focus there. Definitely take a trip out here to explore the city before you invest.
Not sure your price range or goals, but Lee’s Summit, Blue Springs, Liberty, Northland are all good areas to look. Taxes on the Kansas side can be quite a bit higher and make cash flow difficult so I would stick to Missouri.
