Kansas City has been a booming metro for a number of years, and continually growing. Home to the Kansas City Chiefs, enough BBQ spots for any native or tourist, and the spectrum of culture from City Market farmers market to The Country Club Plaza shopping district. There is literally anything for any type of person. I've been in Kansas City for six years now, and have had the opportunity to live and experience a large quantity of what this city has to offer. I've rented in the Northland near Zona Rosa, all the way to Westport, and a number of places in between. So, I'm pretty familiar as a consumer what the varying areas offer and what's been growing.
Now, let's get into why Kansas City is one of the best cities to invest in for multifamily apartments!
#1 - Kansas City is in a growth phase
There is so much money going into infrastructure and improvements all over the city, especially in the city core. The first National Women's League Soccer stadium is planned to be built in the Berkley Riverfront park. This is causing large investment in the Historic Northeast and River Market neighborhoods. The free KC Streetcar is being extended further north to this new stadium, and as far south as the UMKC campus. Essentially connecting all the major districts of the metro and making it more accessible. This corridor is going to go through major growth and will be a great time to get in on the ground floor.
#2 - Low cost of living, higher renter demand
Having rented in KC for six years, I can honestly say it is pretty affordable. Unless you want to live in the center of downtown, there are a variety of options for any kind of tenant. Because it is so affordable, the demand for apartments and places to rent has only been going up. With the way the housing market has been the last two years, more people than ever are renting. This gives way to always having someone looking for a place to live, and when you have a nice apartment building that's both affordable and updated, that's where they are going to want to go!
#3 - Value-add all over
Kansas City is a very old, having been founded in the 1830's. As an apartment building real investor this means there are a large quantity of older buildings that could use a facelift and some renovations which would allow for forced appreciation. Forced appreciation will provide much greater returns when we sell in the future after making the building nicer and fixing any issues the building may have. Essentially adding value to the building.
Summary
That's why I think Kansas City is one of the best places to invest right now. Are you interested in investing in real estate and want to find out more? Send me a message on the contact page, email, or even a text. Let me help you start your real estate investing goals!
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