Are rental property prices out of control in your local market? Many markets are at or above all time highs while the inventory of available properties are at an all time low. Have you have been priced out of high flying markets like Denver, Seattle, Portland, Los Angelos and San Fran?
Maybe it is time to consider the Heartland? Johnson County Kansas and the Kansas City Metro offers an incredible opportunity to purchase solid income producing properties at a fraction of what properties are selling for in other markets. Here are 3 major reasons why you should consider adding KC to your portfolio.
Kansas City is a major hub of the Midwest, it has become a destination city for those from Iowa, Nebraska, Oklahoma and St Louis. It is the home of many major companies including Cerner, H & R Block, Sprint, Black and Veach and many more. KC offers a vibrant downtown with many highly desirble niche neighborhoods surrounding the city
Johnson County Kansas is KC's largest suburb and is consistently on most Top 10 lists for Best Places to Live in America. It is known for its amazing schools and high quality of life. Cities like Overland Park, Olathe and Shawnee are hot spots for renters as they seek to place their kids in the high quality schools.
While the prices have increased recently, income producing properties are still selling at very affordable prices. You will find that your average duplex properties are selling at prices between $150,000 and $250,000. With Rents avereraging between $750 and $1250 per month.
Occupancy and rental rates
Johnson County and Kansas City occupancy rates have been very consistent, even during the reccession vacany rates remained below 8% and have been consistently under 5% for several years now. With the high occupancy rate we have seen rental rates increasing at an average of 5%.
If you are looking to add to your investment portfolio, you should consider JohnsonCounty and Kansas City. Mike Russell & Associates can identify, evaluate and negotiate the perfect income property for you. We have a team of property managers who can take care of all of the day to day details and keep your investment performing at its highest potential.