All Forum Posts by: Max Grust

Thank for your reply. Immediate red flag on this one regarding the quick one month flip. Sellers agent is saying the only immediate repairs needed is one the units needs paint and flooring and mold issues due to no sealing on one of the chimneys totaling $6K-$8K. 

Problem with this deal seems to be eviction of MTM tenants and raising rents to market during COVID. COC ROI was wrong...supposed to be around $115 a door once we have raised rents.

I'm looking at buying a duplex in Grandview, MO for $183K. Both units are 3 bedroom/2 bath and are rented. $850 and $760. Unit rents can be bumped up to ~$950-$1000. Both tenants are month-to-month. Selling as is. Problem is that Seller bought the property as a wholesale for $145K a month ago. No previous inspection report available. Below is the analysis:

Thanks.

I'm a rookie out of state investor planning to make my first investment this year in KCMO.  I'm interested in the buy (preferable off-market), hold, and sell strategy with a cash flowing property that I will need to be rehabbed $5K-$10K per door. Preferably the property will be a Class C property in a Class B neighborhood with a solid school district. Looking at neighborhoods such as Raytown, Riverside, Parkville, and Grandview.  I will be partnering with 2-3 other people so our budget is ~$400K and we are looking at anything from a duplex to a fourplex. I currently live in LA and work in real estate finance. 

I welcome all contacts and/or advice from fellow investors or people who live in KCMO! Thanks!

@Mike D'Arrigo Thanks for your insights. Do you think the distance from LA to KC would put me at a disadvantage for sourcing deals, especially off-market ones? 

@Janani Kalpathi Thanks. Vacancy adjusted price to rent ratios are ideal in Kansas City. The rest of the cities that top the list of that ratio are much farther away from Los Angeles. Also Kansas City is relatively landlord friendly plus its a cool city. 

@Bill B. I travel to Vegas occasionally for work/leisure and Phoenix very sporadically. No desire to retire or move to either unfortunately 

I'm looking to invest in my first RE deal at age 26. I live in West LA and work in commercial real estate finance so have experience with analyzing deals. I'm interested in the buy, hold, and sell strategy with a cash flowing property. I will be partnering with 2-3 other people so our budget is ~$400K and we are looking at anything from a duplex to a fourplex. 

Not sure if an out of state (i.e Las Vegas, Phoenix, Kansas City) property for our investment is the correct decision or to stay local in Los Angeles. Also would preferably like to find an off-market deal so not sure how plausible that is with being out of state. Thanks