All Forum Posts by: KJ Miller

I have the lead on a couple of properties in the 64134 zip code. On paper they look like good investments. However, i know that i am still new to this so i'm trying to get some other opinions about this area. I am interested in buy and holds (BRRRR) for cashflow. The units i am looking at are SFH, 3/2 1k sqft. I can pick them up for 40-45k, about 15k in rehab to get them into top rental shape, could spend less on rehab and rent them, but i want to own nice rentals. This puts me all in for 55-60k. Should appraise around 90k per my research.

My biggest worries are:

1: Anyone that knows this area and market, does that ARV sound too high? i see plenty of them for sale around that and even higher.

2: There seems to be a large inventory of Rental Houses in this area, is that something i should be concerned about? The last thing i want is to purchase my first investment property, and have it sit vacant and ruin my family's financial situation.

Mainly what areas to avoid and how is the rental market? I am looking at buy and hold long term rentals, I care more about cash flow than about appreciation.

Anyone here do any investing on the Kansas side of Kansas City? Specifically Wyandotte County? Curious if anyone would be willing to share their experiences there.

I am ready to buy my first investment property. If you are a wholesaler in the KC area, another investor, an investors agent, I would love to connect with you. Please respond to this thread or feel free to message me. 

@Mike D'Arrigo @Gordon Cuffe Thanks for the advice gentlemen. This site really is awesome. 

Thanks @Mike D'Arrigo I am still trying to learn the market. So your insight is great. I don't have the capital to invest around where I live, but am actively looking at trying to get into the game. Just trying to make sure I cover all my bases. 

@Mike D'Arrigo As I said in my first post. I am just trying to make sure I am thinking of things right. I am new to the real estate investment game. Mostly looking through properties, practicing evaluating them to make sure when the funds come available I am ready. I have seen that you have some pretty good knowledge of the KC market. Would you not consider 64134 (Ruskin Heights area) a C neighborhood?

@Caleb Heimsoth

I came up with that range using zillow, craigslist and rentometer. It is actually an even larger range. I know the area pretty well. Its a solid blue collar neighborhood. With lots of rentals in the area. This is the area where a lot of investors are buying and holding. Housing prices are not high in this area. Homes in the neighborhood are selling for 40-65k depending on finishes. I guess I will have to get with my agent and have a look at it so I can see in the inside better and look for any obvious warning signs. 

So I am looking to purchase my first rental property. I know that typically deals are not found on MLS or Craigslist as these are the "deals" that have made it past all the savvy investors. My question is this though: I have found a house for sale in a solid C or C+ neighborhood that is listed for sale for 48K. Long term tenant already in place. Paying 725 a month. This would easily cash flow around 200$ per month. Market rent in the area for comparable SFH is 800-950 a month. So my question is, should I look into it? Why hasnt this already been gobbled up? Is it too good to be true?

Wow! So many responses, and so helpful too! Yet another reason why I am loving this place more and more every day! I absolutely do not want to put myself or my family into and financial predicaments, after reading everyones comments I realize that my dream, is more of a pipe dream than a realistic dream. Like was commented earlier, I can still provide quality rentals without having to take on "war zones" and that will be the direction I will shoot for. I want thank everyone for their helpful and direct responses. Thank you for helping me realize that I can help others and stay out of the "war zones"