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All Forum Posts by: Laura Marks

Laura Marks has started 3 posts and replied 125 times.

Post: Nothing in Market meets 1% rule

Laura Marks
Posted
  • Real Estate Broker
  • Independence, MO
  • Posts 127
  • Votes 111

@Sarah Bridges

Hi Sarah, 

You may have to go to another city. We see a lot of investors coming to the KC area but I think it's getting a bit harder to hit the 1%. Rents are strong though and just going to increase, get that investment purchased before house prices go up much more and you still have great interest rates. Let me know if you'd like to take a look at our area.

Post: kansas City B Neighborhoods

Laura Marks
Posted
  • Real Estate Broker
  • Independence, MO
  • Posts 127
  • Votes 111
Originally posted by @Jason Malabute:
Originally posted by @Marc Edwards:

This is a very good question! The avg. rents for a an 2/1 apartment is around $875 or so depending to give you a good number to work with. A couple of sources that you can check out are www.rentometer.com or www.rentcafe.com The rents in Kansas city are increasing and in my opinion will continue to rise for the next few years. The cap rate varies especially in this market where wholesalers are acting like listing agents and asking retail prices. The cap rate is a nice number to look at but do not let that be the sole determining factor in your purchase. Sometimes it does not reflect the strength of the investment. The cap rate does not take in account certain things like leverage, future cash flow from forced appreciation and things like that. I would love to chat more with you. Looks like you have picked out some nice zip-codes.  I wish you the best with your investments!

 Hi Marc,
I saw your response that the average rent is $875 for 2/1. Is this for all of the zips i mentioned? Would you know the price per unit and cap rates? I tried calling you, but was unable to reach you. 

The reason why I don't depend on rent-o-meters rent estimates because it includes SFH in estimates

Thank you

HI Jason, 

I'd love to chat with you about your rents. I know the area very well, as I managed about 500 sfh in these area's. I can tell you what will rent and how much you can go over the market in these areas. Feel free to message me, I'd love to help. 

Laura

Post: The best general contractor in KC area.

Laura Marks
Posted
  • Real Estate Broker
  • Independence, MO
  • Posts 127
  • Votes 111

https://www.betterplacesllc.com/

Post: Highest and best offer...on a rental property? Is this a thing?

Laura Marks
Posted
  • Real Estate Broker
  • Independence, MO
  • Posts 127
  • Votes 111

It is a thing and I use it often when I have multiple applications who are equally qualified . 

Post: What’s your opinion of self-righteous investors?

Laura Marks
Posted
  • Real Estate Broker
  • Independence, MO
  • Posts 127
  • Votes 111

You should really listen to your local property management company on rents and not decide your market rent from the internet. We KNOW the market by talking to hundreds and hundreds of renters. If I tell you a house will rent for $1100, I'm already pushing it a bit, please don't come tell me you need $1500 rent despite what I tell you, since you decided it needed to be more. We have very successful out of state owners because they trust us and listen to our 20 years of success.