All Forum Posts by: Ryan Fox

I have another suggestion for a company that sells something similar to what PIP Mgmt sells.  Feel free to PM me.   

Hi BP - 

I'm new to investing in KS and was wondering if 66112 is a good area to invest for a long term buy and hold.  It seems to be outside the inner city but I'm still concerned about crime and tenant quality.  

Thanks -

@John Clark - I found one study that showed home values were 11% higher than the national average.  Can't find anything about rents.  I find it hard to believe.

This is a pretty good thread about good / bad areas in KC to use as a starting point:

https://www.biggerpockets.com/forums/48/topics/276800-kansas-city-missouri-zip-codes?page=1

Yesterday, I learned that numerous former Chicago public school district schools on the South side are going to be auctioned off this fall.  The listing agent believes that the most likely bidders will be Chicago "affordable housing" developers.  Apparently, the most likely use of these properties would be new-build construction for affordable housing.  I'm not sure how such an "affordable housing" program works thru the city.  As someone who owns rental properties on the South side, and very near one the properties to be auctioned, I am concerned about a potential increase in supply of rental units which would drive up vacancy.  However, I've seen very little new construction at all on the South side.  Should I be concerned?  Is there a city program that encourages new-build affordable housing?

@Ibn Abney- Excellent work!

How do you know if the plumbing has to be replaced?  Is that something that's covered by the inspection?

Is it in a flood zone?

I would inquire as to whether any of the tenants have given notice to vacate, as that may be why the owner is selling - large rehab costs.

@Justin Greene- You might consider Gladstone and any areas further north than that. Inventory for BRRRR-ing is pretty thin. I haven't looked there specifically lately.

@Lee Ripma @Jim D. - These are all really good points.  Thanks for the info.

I'm considering buying some 100-year-old SFRs in the Kansas City area for potential BRRRR. I already own two properties in the KC area, but none as old as this. My question is whether I'm going to be inundated with maintenance issues on these properties, even if I do a full rehab in the beginning. While I intend to own them long term (approx. 10 years), will they have any resale value at that point or will they essentially be tear-downs? They are wood frame construction. Thanks in advance -