Where TO invest in Kansas City Real Estate!
There a many areas that are seeing great investment opportunity while the market is down. One of the ones I often mention to potential investors in Raytown, MO. Raytown is a suburb or Kansas City, in fact Raytown is almost completely surrounded by Kansas City.
The Raytown School District is well respected and highly sought after by renters and home owners. Working with renters in the area for decades I have seen an increase in interest in the area. While Development in Kansas City staggers, large commercial development and improvements continue to come on-line in Raytown, MO.
While Raytown has tossed about a rental property licensing theory, they have yet to implement it. Housing has become much more affordable since the "bubble burst", and home prices are great in relation to rental rates.
Doing a search for rental rates in the Raytown area I checked Rentometer for some averages. While I know the area very well I found pretty much what I expected. rates for a three bedroom range from $600 to $1200. cruising Craigslist I found many three bedrooms in Raytown advertised in the same price range.
My experience has shown the typical three bedroom, one car garage home in Raytown will rent quickly, to a well qualified tenant for $700-800 a month. Given that I am now finding homes listed for sale for as little as $29,000 the time is right for investing in Raytown, MO!
Since most of the Raytown housing market is made up of post-war era homes, many of them will require some improvement to be suitable as rental property. Upgrading things like floor coverings, interior finishes and kitchens will improve your rent-ability and even your saleability when the market returns.
With sales typically in the $70's and up prior to the crash, I can foresee Raytown real estate values returning to those figures in the near future.
Raytown has a significantly lower rate of violent crime than much of the rest of the metro area. According to some Internet sourcesI found that violent crime in Raytown is rated at 223 incidents per 100,000 people.
The same site rated the state of Missouri at a staggering 787 per 100,000 people, and Kansas City, MO at 1,444 per 100,000. That means that your tenant or you are 84.56 percent more likely to be a victim of violent crime in Kansas City than in nearby Raytown. (If I did my math right).
How does that relate to your investment property, tenants who feel safe stay longer, property values tend to improve or remain constant in lower crime areas. Raytown even has a bus service call the Raytown Circulator that connects with the KCATAbus lines. So even in Raytown you can catch a city bus to get where you need to be.
With foreclosures everywhere, and lenders being more particular, the rental market is booming! get in now while the interest rates are low and the prices are at historical lows, waiting until the market corrects will only leave you out of the game when it comes time to sell.
Let us help you find an investment property that will offer future potential and cash flow now.
Turn-Key Properties LLC