All Forum Posts by: Manley Woods

Would have purchased it through a renovation purchase instead. Could have gotten a value based on future assessments and started the renovation now. Would have allowed you to grow rent as soon as these tenants are out. Nonetheless, as long as your ROI is green, good buy.

Sure! Yes Columbia is a great town, and my hometown. I have only been purchasing there bc I buy off market properties from a family member as he decides to sell. The Columbia Realtors association has all of their data locked down pretty tight, so I can't compare investment analysis and data to the KC market. So I am not 100% sure how it compares with KC in regard to going cap rates, cash flow, COC returns, and all of the various rules we look for as investors.

 Its a BIG College town (Mizzou, Columbia College, Stephens, along with many smaller community colleges), but also has enough industry (Veterans United, University hospitals, factory work, Cerner, etc) to be self sustaining enough (meaning the local economy is not 100% dependent on the state university) to have a healthy and growing pool of great tenants. So I would say if you are finding luck there, keep on hunting there! If you would like a referral for a great investment minded realtor there, let me know!

In 5, 10, 15+ years when you've reaped the benefits of appreciation, rising rents, tax benefits, and knowledge gained from rehabbing and renting the property, you won't worry about a few extra bucks on the purchase price.