1542-44 N 63rd Terrace
Kansas City, KS
This duplex for sale has cash flow!
Located in Kansas City, Kansas this duplex for sale features 2 bedrooms, 1 full bath, 1 half bath and 1 car garage for each side. Priced at $119,999 with rents bringing between $665 & $685 per side. One side is currently occupied with tenant and the other side has someone moving out very soon that we will be renting. Vacancy in the area is low as I saw only one "For Rent" sign on the entire street filled with duplexes.
This property has been managed professionally and if interested I can put you in touch with the property manager. The Wyandotte County, Kansas tax appraisal says this income property is worth $130,700 but the out-of-state seller says SELL! So we've priced it to sell. Inspections are welcome but this home will be sold "as is" due to the favorable pricing.
Do not hesitate to contact me if you have any questions about this duplex for sale with good cash flow in Kansas City.
Offered for sale by Chris Lengquist of Keller Williams Realty in Olathe, Kansas. For all real estate investing needs please feel free to call Chris at 913.322.7515.
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Chris,
You are absolutely correct about the cash on cash thing if the person is investing to build a retirmenet portfolio while maintaining their JOB.
But if you want to get out of the JOB, you need to have rentals that put money in the pocket today to save up for future repairs and to pay your bills today.
I don't have the time to run through all the calculations. But let's say you have a current income of $2000 a month for your job and you want to leave the full time job. If you can acquire 20 units that are putting $100 a month in your pocket after all expenses every month, then you can replace that $2000 a month from the job. Granted you need more than $2000 a month in rental income to replace the income from the job, plus the benefits, and to bank a reserve for potential repairs and to buy more properties.
So here is my summary:
Buying to build the retirment portfolio while keeping the current JOB to pay the bills and having the source of funds from the JOB for more down payment moneys to add properties is a good plan, if you don't plan on leaving the corporate world (or what ever job you have)
But if you are like me and don't want to punch a clock every day, cash flow now is vital. And selling a few properties from time to time for cash doesn't hurt.
Kim Tucker
Mid-America Association of Real Estate Investors
www.MAREInet.com