He kept in touch with local contractors, and one tipped him off about a homeowner who ran out of funds mid-renovation.

Affordable relative to the rest of the US so great place to work remote or just enjoy a reasonable life without being hugely cost burdened Cons: A lot of older than 1980s construction (you 100% can be successful with these properties just have more to check during due diligence) Need to be mindful of market rents in the area and not overspend on renovations where there is not ROI to do so, you can’t usually exceed $2 sf on rental rates and average price per sf is 1.25-1.5 sf (neighborhood, unit type, and finish level specific).KC is not a boom and bust market, you don’t get the high highs or the low lows.

Renovated: Added granite, high end finishes and fixures, landscaping, new flooring and painting throughout.

But I’m 16 years into the game and did all of the maintenance, renovations and management myself for the first 10 years.

@Kendric BufordRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I want to refurbish the entire house, including a complete kitchen and baths renovation, add an addition on the east side, new roof and siding, new flooring everywhere, paint inside and out"Then ask the GC to go over and put this into a more formal document.

You can get into a home for little or even nothing down, perhaps add some value by renovation, then hop to a new primary residence in a year with little or nothing down, and repeat.

I insured a residential property that we are renovating with Obie.

I’d just recommend reviewing the renovation requirements for the historic district since they can add time and cost, but the right team can help streamline the process.Good luck with the deal—sounds like a solid opportunity!

The property was well-located and priced under market value, offering a clear path to profit without needing significant renovations.