Well, hello and welcome to another episode of Passive Real Estate Investing. I am your host, Marco Santarelli, and today we’re doing another market spotlight. So I did one a few weeks ago, and prior to that I haven’t done one, I’m guessing in five months. So I think it’s time for us to do a couple. And one of my favorite markets, probably because I’m biased, and I actually have a, a good portfolio of properties in this market is the Kansas City Metro area. And for me specifically, it’s the Kansas City, Missouri side of Kansas City. But I love that market. I have loved it for many, many years. I probably fell in love with Kansas City about 15 years ago, but I didn’t actually start investing in Kansas City until about 2014, 2015. And, and I’m actually in the process in full transparency. I’m actually in the process of picking up some more property there.
So I’m adding to my portfolio as I record this video and this podcast. So I wanted to bring on Pat, who is one of our great property providers there. They don’t do new construction. They find properties that they can refurbish and renovate and bring up to like new condition in specific neighborhoods. So what we’re gonna talk about is the market. Why should you invest there? We’re gonna talk about the neighborhoods that you should be looking at, as well as where some of that inventory is that Pat is renovating. And we’ll talk a little bit about the properties, we’ll talk a little bit about the management side of things. And so at the end of it all, you’ll have a pretty good idea of why Kansas City is a great option and maybe one to consider.
FREE copy of The Ultimate Guide to Passive Real Estate Investing.
If you missed our last episode, be sure to listen to Understanding Our Economy Is Easier Than You Think, and More Important Than You Know
So with that, Pat, welcome to the show.
Thank you, Marco. I appreciate it. Appreciate your time and, and doing this spotlight on Kansas City. Thank you.
Definitely. So Kansas City is, is a cool city because number one, there are so many water fountains all over the city.
<Laugh>. Yeah. Yeah. I think
What is up with that?
We got a record of, of water fountains everywhere around the city. They’re all lit up right now, red for the chiefs. And so depending on the time of the year, they’re lit up differently. But yeah, that is one of the nice parts of Kansas City.
Yeah, I mean, literally, that’s not even a joke. You can drive all over the city and there are water fountains everywhere. It’s just you, you guys have the world record of water fountains.
Water fountains and barbecue.
And barbecue. Yeah. Well, let’s, that’s true. The barbecue in Kansas City is very, very good, right? Yeah. Been to a number of restaurants there. So Kansas City has been what seems to be almost like a perennial market like Memphis is to us. I mean, we’ve been in the Memphis market since 19 years ago, but Kansas City, we’ve also been in that market for over 15 years. And it’s just, there’s always opportunity there. There are always reasons to investors always inventory the numbers, make sense, even with interest rates, you know, fluctuating. So let’s start off at a very, very high level. Why should an investor or a person invest in the Kansas City Metro?
So, you know, I’ve been, I’ve been creating and managing these portfolios for 20 years now, and the reason people come here is real simple. It’s low entry and high cash flow. And so our market offers you know, 200, 150 to $250,000 properties. So if you have 30 grand and you’re financing, you’re a player in Kansas City, and if you have 200 grand, you can split that up between four to five houses in Kansas City and, and diversify risk. And so, you know, there’s a lot of other factors, but I think the biggest factor why, what’s, for me in the last 20 years and just talking to all my investors and talking to people who invest here, it’s simple. It’s the, it’s the price action and the low entry and the fact that they can participate and be an investor if they live in California or they live in Hawaii, or they live in New York.
You know, they got all their eggs in one basket if they can afford something there. And so the low entry to high cash flow, I would say is probably the number one reason. Employment is good. We have really good, we, the, the economy in Kansas City is just growing at a tremendous rate. I mean, there’s so much stuff happening and a, a new thing that’s coming to Kansas City is a lot of tech. And so these big tech companies are coming. I think Google was the first one to come here. We have Google Fiber here in Kansas City, so Google’s actually like a cable provider. And Kansas City was that big test city. And so now I think they’re starting to figure out, and you know, Kansas City’s in the middle of the United States, so it’s a great place for distribution, transportation warehousing.
So all these companies, Amazon and, and Google and Meta, there’s just such big developments with, with warehouses and data centers and just all kinds of jobs just creating here in Kansas City, there’s a, there’s a project 587 you can Google. It’s a big project up north, which is a big area that I provide houses in north of the, the Missouri River. And that thing is like a, a multi-billion dollar project that’s going on. And then they have a data center getting built. I think Facebook and Google are the tenants, it’s like 5.5 million square foot. It’s an 800 million data center. So these are all jobs that are gonna be coming straight to the areas that, you know, I’m providing, you know, houses. And so employment is strong. You’ve got low entry, you’ve got high cash flow. You know, another thing a lot of people don’t realize is there’s a lot of universities in Kansas City.
So like, I was born and raised in Hawaii. My wife’s from Los Angeles, we come to school in Iowa. Her last two years was in Kansas City, and you know, she’s from LA, I’m from Hawaii. And, and we’re like, we can own a house here for 200,000. I mean, that’s, you can’t do that in Hawaii, in Los Angeles. So I think a lot of people there’s like 150 universities within a hundred miles of Kansas City. So I think a lot of people are coming to the Midwest area and then they’re figuring out, oh my God, I can have good job. I mean, your average pay over here is, you know, 70,000, 60, 70,000 with a degree. You’ve got, medium house is 250, 300,000. So you can actually own something, have a 401k, have life insurance, and you know, just graduate out of college and be 21, 22 years old and be doing something where in LA you make 150 grand, you’re a renter. You know, you’re not owning anything out there in, in Hawaii or Los Angeles. So there’s a couple reasons right there, Marco on Hawaii, we’re doing pretty well out here in Kansas City.
Yeah, it seems like over the years, every time I look at, you know, what’s going on in Kansas City, kind of the news, usually it’s, it’s leans, you know, economic news, there’s always talk about high employment, like low unemployment, but high employment, there’s always jobs and expansions. Companies moving to the Midwest and they’re, you know, they, they pick places like Kansas City and Indianapolis. It’s, you know, flyover country. It’s like you said, it’s in the middle of the country. And you know, there, there’s always just positive economic news, which tells me that there’s growth, there’s momentum, there are jobs, it’s a business friendly environment. There are all those things you want in a market to sustain growth. It brings growth, but it sustains growth. You know, another thing I like about Kansas City is it’s a logistical hub. It actually is a major railway hub, so it connects pretty much every corner of the country in one place. So, you know, you can have transportation from a port in New York or LA bringing goods, you know, to the other side of the country. They have to go through Kansas City. You know, there’s, so there’s a lot of employment around logistics as well. And I like that.
I think there was almost 27,000 new jobs this year, and you’ve had 2300 new jobs just come on in in November. So I mean, our employment is, like you said, it’s really high compared to, you know, the rest of the states. And these are, these are really good, you know, good paying jobs when it comes to, you know, distribution and transportation and education, healthcare. And so these are, you know, are tenants and, and so picking areas in Kansas City is really important. Kansas City’s a real cheap city as well, so you got a lot of like $50,000 stuff, but those neighborhoods are pretty tough, you know, so you gotta be real careful on where you’re taking positions in your real estate and, and what you wanna manage and your wherewithal for fevery and burglary and, you know, stuff like that in certain areas. Yeah,
Yeah, for sure. So I have an internal tool that talks about, or shows me, you know, different trends in different markets. Housing trends, you know, kind of a teaser or maybe spoiler alert, however you wanna look at it. But it is a tool that I’m looking to release as a publicly available tool. There’ll be a free component, but there’ll be a subscription as well. And it just shows you, you know, what each market is doing and how it ranks compared to other markets, and whether it’s in a wealth phase or not. So, Kansas City, I, I’m just gonna throw out some quick numbers for the audience here, but I’m sharing it with you. Kansas City is still in a wealth phase. It has been for a long time. Right now we’re showing, you know, year over year appreciation on our charts being around 7%, which is very healthy number.
Rent growth is very strong. You know, our metrics show 61%. What that means is not 61% increase, it’s showing that it, the rent growth is strong compared to 61% of other markets in the country. Median house cost is growing. The cash flow potential is still very strong. In fact, we were talking about this offline and maybe comment on that. What, what’s going on with rents and rent growth there? I mean, I’ve loved being able to increase rents over the last few years. My property manager there is like always asking me every year, you know, we can raise the rent, here’s what I recommend. Do you wanna raise rents? And so it’s like, always no problem. But yeah. What were you telling me before we, we recorded?
So we have a vertically integrated model here where, you know, we have a big real estate brokerage. We have a construction company that handles all the maintenance, and then we have property management, full service management. So on our management side, we’re doing one year leases. Right now, I can get two year leases easy, but the rents have been going up so much that we were pigeonholed or stuck in this lease that we could raise even more. So we just started doing one year leases again. And at every lease renewal, I’m going out 5% easy, 5%, sometimes more, but five percent’s the, the minimum, you know? And, and I’ve got nobody walking away from, you know, the the leases or leaving. They can’t go nowhere. I mean, they’re, it is just go, it’s just going up everywhere. So I think in the beginning, they want to go out to the market, look at it, see, and then they come back and like, okay we’ll sign the lease renewal.
And so 5% on, on a minimum, you know, our, our median, I’d say our median price point, probably about $230,000. You know, you’re talking 142 bucks a foot, that’s really cheap for mm-hmm. <Affirmative>, you know, and so I think people are starting to figure out and here’s another big kicker that just happened within the last five years, and I just got this stat from KCRER to Kansas City Association of Realtors. And so this time last year, so we’re, we’re down 15% in pending sales, right? So sales that are happening is down 15%, but the price of a home is up 16%. So that means the appreciation of houses is up 16% this year from this time last year. So our homes that are selling are selling for 16% more money than they were last year. So Kansas City’s always been that five to seven type market, you know, and in the last three to five years, all of a sudden now we’re experiencing this 10 to 16% appreciation bump on top of low entry and high cash flow, and the, the dual exit strategy that Kansas City offers.
I love that. You know, the fact that you can sell or you can rent. And I think my average, you know, I’m, I’m at 98% occupied and I’m at 96, 90 7% of my rents collected. You know, so another thing is Kansas City’s a really landlord friendly state mm-hmm. <Affirmative>. And so I can <laugh>, I mean, I can, it, it sounds bad, but like, I can evict people in 60 days. I mean, so it’s not, you know, I don’t have rent control. I don’t have, if I wanted to, you know, I, I just bought five duplexes and the, the man who owned it before was pretty old. He’s renting for $600 month to month. I mean, the first day I bought the place, I raised the rents to a thousand dollars and everybody left, which was great. And I just, you know, that’s a big jump. And so, but that’s what I’m gonna rent these places for when I get done with it. Yep. But you couldn’t do that in other markets, you know, you’d be stuck with that tenant. Right. You can’t get ’em out. You can’t. And so the movement in the market like, you know, like that example to me is just powerful.
Yeah, no, that’s huge. It’s huge. Yeah. So there’s a lot of good stuff going on in Kansas City, Missouri, A lot of opportunity. The momentum is good. Let’s take a minute or two talk about what types of neighborhoods you’re focused on in terms of acquisition and renovation. Because neighborhoods as, as you know, are very important. They can range from the low C class neighborhoods to the high A class neighborhoods. I think a lot of the product is in the BBB plus a minus category or class of neighborhood, which is for me, kind of the sweet spot. But talk about the types of neighborhoods you’re focused on and why.
Okay, so I’m gonna be in that a b type area. I’m in that area that’s between 150 to no more than 300,000. I’m not doing homes, you know, over 300 grand. I like staying there. I call that the honey hole, like the sweet spot where, you know, I have a big pool of renters and you know, some of my investors been with us for 15 years and now they wanna sell. I’ve got a big pool of buyers in that market, you know, in that 150 to $300,000 market. And so I’m focused on pretty much anywhere up north, you know, north of the river. I’m a, I’m a big buyer, a big supplier there. Raytown, Missouri Independence Missouri, blue Springs, Lee Summit. I’m buying a ton of stuff out that way. Little bit in Grandview. So, you know, in that Kansas City metro area, you know, within maybe I’d say 20 to 30 miles of Kansas City, I’m almost 20 to 30 minutes away from any one of my projects or any one of my houses.
That’s kind of the neighborhood I’m in. I feel like most of the, the dual working family is what I’m looking for, you know, and tho those people are bringing in, you know, maybe 90 to a hundred thousand, 120,000 a year. So they can afford that 1200 to 15, $1,600 rent range. I stay away from things under 1200 bucks. I, I just don’t want to deal with an $800 tenant, got $800 problems and I don’t want to deal with that. And so I’m sticking in that, you know, 12 to 16, 1700, maybe some two grand type stuff. But in the markets where you look at the last 30 days, I pull up Raytown, I look at the last 30 days. There’s 50 sales in Raytown in a month. So I mean, those are comps. And so the market’s moving, there’s trading going on, there’s sales, there’s buys happening, the market’s fluid and the lending is good.
And so those are the, the markets and why, and I got 22 years of doing this in Kansas City. Like I know what works and I know what doesn’t. I’ve been there, I’ve done that. You know, I played in that inner city market for five years. I sold everything and never went back. And yeah. You know, I just got out of that area. For me, in managing people’s money and managing assets for people, being able to hit my numbers every year is important. And for me, I’m a five to 10 year guy, you know, so most of my clients stay with me for five to 10 years. And so year over year, I have to hit these numbers and it’s real hard to hit certain numbers in certain areas. Like I, I wanna pick areas that I know year over year I’m gonna be able to get ’em mm-hmm. <Affirmative>, you know, six, 7% return after all their expenses are paid. And I got a, you know, a 10% appreciation bump right now. So that’s that’s kind of why I choose those cities and those areas and just kind of stay out of certain areas in certain cities.
When you’re talking about a six to seven to 8% return, I assume you’re talking about cash on cash return? Yeah. Yeah. Okay. Yeah. Yeah. And plus, so, well that’s great. I mean, if you’re doing six to 8% cash on cash, that’s what you wanna end up with when you’re investing in residential real estate, especially if it’s leveraged, you know, that would be your minimum is six to 8%. And then, you know, and then it’s better than that because you’ve got the equity growth, right. You know, through appreciation and amortization. So that’s the beautiful thing about real estate. Plus you can leverage it, plus you’ve got the tax benefits. I don’t know where I heard this Pat I long ago, and I don’t remember when or where I heard someone say that they don’t buy rental properties that rent for less than a thousand a month. Now, you know, you have to keep that in context cuz it depends on the market. Some markets a thousand is like a lot, and then some markets a thousand is not even a, a shed, you know, can’t even get a garage for a thousand a month
<Laugh>.
Yeah. But it was kind of an interesting rule of thumb. And you know, my other comment is I’m not married to the so-called 1% rule, but it just doesn’t work in many, many markets. Right. But it’s a rule of thumb, it’s just a litmus test. Right. But I still see areas in Kansas City that are pretty close to pulling off a 1% Yeah. Rent to price ratio. Are you still seeing that?
Yeah I mean, maybe not the 1%, but you know, I mean, we’re close in some of the areas like Raytown, independence, the Northland, you’re not gonna hit that 1%, but I mean, we are close, you know, on a $200,000 house, I can catch a 1500, $1,600 rent and so mm-hmm. <Affirmative>, we’re close to the 1%. And another thing like a real easy underwrite for Kansas City, you know what I tell my out-of-town people is buy homes where all your neighbors have two car garage. That’s the real simple underwrite for Kansas City. I mean, if you talk to anybody from Kansas City and you ask ’em what crappy neighborhood? Do you know where all the homes have two car garage? There really isn’t any. And so a real simple underwrite for somebody who’s from out of town is just ask your agent or ask your property provider, does all the neighbors have two car garage?
Like, put me in a neighborhood like that. And if you’re just in a two car garage neighborhood in Kansas City, you’re gonna be all right. Like, those are, they’re newer. Kansas City’s an old city, you got homes built in 1900. And so those homes become some money pits and maybe, you know, in the older neighborhoods, older areas. So, you know, I I, I try to stay maybe in that, maybe the oldest, I’ll go maybe 1950, the 1960, and you want to stay in the two car garage type areas. Well, at least a one car garage. I know good tenants usually have good cars and they want to take care of ’em. You don’t, when I’m parking on the street, parking with the salt, shoveling snow off your car, having garage base and staying in that, I prefer two, staying in that at least one car garage, maybe two car garage, and then basements.
You know, that’s another big thing. I know a lot of places around the country, they’re just sitting on slabs, but Kansas City, you got tornadoes and stuff. And so having basements, I mean like a, like a three bedroom, two bath, one car garage house on a slab, you know, you might sell that in certain areas for maybe 130, 140,000. That same house with a basement, you know, you get in 1 65, 1 70. So the basement really makes a difference. So when you’re underwriting property in Kansas City, that’s a huge question to ask is like, you gotta know, you gotta comp slabs with slabs and you gotta comp basements with basements mm-hmm. <Affirmative> and finish basements with finish basements. I mean that’s there, there can be a huge disparity in your value of your property just on the basement alone. So that’s, that’s another good a good pointer for the listeners to understand.
Yeah. You’re actually answering <laugh>. One of the questions I want to ask you, and that is the types of properties that you focus on. Oh, describe the types of properties. I mean, you’ve given us an idea, but are they like three bedroom? Just describe what you’re renovating and, and what you’re producing as like new rentals.
Yeah, so I’m buying a lot of distressed foreclosed. Yeah. I got 20 years of network here. Everybody knows, you know, there’s probably five or six really big buyers in Kansas City. We all know each other. And so we’re buying a lot of stuff. And the stuff I’m looking for is like three bed, two baths, two car garage that’s split level, maybe 1200 to 1600 square foot, that type house. That’s like my preferred buy box. Then I’ll go into three bed one bath, one car garage. We got a lot of those, like a ranch style house. For me, I have to service people who have 25 grand to invest and I can service people who have millions to invest. And like, so that 25, $30,000 guy is gonna need 140, $150,000 house. And so I try and stay away from homes on slab or crawl.
I prefer to one to two car garage. I might go into a two bedroom, but that’s very rare. So I’m, I’m usually staying in that 3 1 3, 2, 1 to two car garage, maybe 1950 to about 2000 maybe sometimes a little bit newer. But that’s that honey hole at price point rate in that 150 to $250,000 market. And the rents work really once you get over 300 grand, three 50 in Kansas City, the rent numbers are trash. I mean, they’re not, you know, and your pool of renters is really small, you know, you’re looking for like the divorce doctor or something, you know, <laugh> like, and so I like playing with the numbers and playing with the masses. And so I just kind of stick in that one 50 to 2 53 bed, two bath, two car garage. Yeah. 3 1 1 car garage. And I prefer basements. I will buy slabs and crawls in certain areas. Yeah. But if I can get a basement, I’d prefer a basement.
Just real quick, what does a typical renovation look like when you pick up, you know, these properties, whether they’re distressed sellers or distressed properties?
So for us, we’re, you know, I mean, we’re not like custom build. I do about a hundred to 150 homes a year. And so I use the same gray paint on the walls. I use the white trim. We got gray cabinets, we got the gray and white tones with the countertops and the lvp on the floors and hardwoods, if there’s hardwoods in the floors. If not, we’re putting carpet in the bedrooms. We’re updating the kitchens and the baths and the electric. I mean, most times anything maybe over, I’d say seven to eight years old is getting replaced. So like furnaces, acs, water heaters roofs, you know, that kind of stuff. So, and for us, it, I’ve done so well and I’ve done this for so long, I was talking to you earlier about that. I just kind of stick with my game plan. I don’t do the new construction stuff and I’m, I just, I stick with the rehab of the houses.
It’s, it’s easy for me to get ’em done. I can get ’em done faster. Permitting and contracts and all that stuff is easy when you’re rehabbing. And so just totally different ballgame. And, and for me, all my homes are, I would say cook. I mean, all the homes are different, but the way we rehab ’em, I mean, same lights, same paint, same floor. It’s like a machine, you know, just kicking ’em out and getting ’em done. And what’s good is my vendors always have my paint colors. They always have my L V P <laugh>, they always have my shingles. I’ve always done a labor only, you know, so I pay for all my own material whi, which is great because I can control the vendors and I can negotiate my costs. So when you’re sitting here buying and rehabbing houses and you’re doing labor and material bids and you’re given all your material choices to another guy, he’s gaining all that volume.
So now I can go to Lennox and negotiate my furnaces and my acs because I bought $250,000 worth of them last year. I can negotiate my paint, I can negotiate my flooring, I can negotiate and cut my costs and rehab in houses because I, you know, I, I controlled that for 20 years. I’ve controlled all my costs and I pay, I just do labor only on all the stuff that we do. So right now we’re running about, I’d say 20 to 25 crews going at any given time. We’re managing over 600 houses now. And so, you know, every month I got 20 people moving out. I gotta get those homes ready. I’m buying five to 10 new homes, I gotta get those homes ready. So the construction pipeline’s loaded with 20 to 30 jobs every single month. And so figuring out, I figured out real young how to do it and then do it in scale, you know, so that I can provide a lot of property for a lot of people. And then I figured out management was hard to find in Kansas City, and that was a piece that I needed to control. So when you come to Kansas City, you know, I mean, it’s like we’re small enough that we’re family owned. You’ll have me and my, you know, my wife Marty, you’ll have her phone number. You guys can get in touch with us, but we’re big enough to make some moves and negotiate contracts and pricing and vendors and stuff like that. So it’s been a ride for sure. <Laugh>.
Yeah, yeah, for sure. Well, you do run a big operation and it’s more than one operation because you’ve got a couple different companies. You’re also a principal in the property management right side of things, which is certainly an option for our clients, the investors that are you know investing in Kansas City. And as you know, property management is very important, especially for a long distance investor. Briefly describe the property management services your management company offers so that way people have an idea of what they’re gonna get, what they can expect. Because, you know, it’s not the only option in town, but it is a very good option.
Yeah. So on the management side, the company’s called kc, commercial Residential Management. And we manage primarily, I only manage the homes we sell. We’re kind of selective on what we manage because we don’t wanna manage in certain areas. But, you know, we are starting to take on some outside management. And the, the management fee is a 10% is what we’re managing for right now. We’re collecting the first month’s rent, 10%. And I, that’s like the going rate in Kansas City right now. I mean, across the board. I mean, I think pretty much everybody’s doing that. We don’t charge like a, a door fee. We don’t, you know, so the way I’ve aligned all my companies is I don’t make money until you’re making money. So if we’re, if you’re not, if your home’s not rented, we’re not getting paid. And if half down on the construction and in the second half when it’s completed and stuff like that, you know, so it’s like we’re not fee-based.
We’re not heavy on the fees. We use a software called AppFolio, which is a pretty big software in the, in the property management industry. I love the software. It’s like all inclusive. I can, I can, my phone calls are in there, my text messages are in there, my emails are in there. Every conversation you have with a tenant, every conversation you have with a text message, an email is all in, in that data center. I can pull credit through AppFolio, I can underwrite all the tenants through AppFolio. And so, speaking of underwriting tenants, let’s jump on that real quick. Cause I think that’s really important. And so we’re doing three to three and a half times the monthly rent. So if rent’s a thousand dollars, they gotta be able to show net at least 3000, 3,500 bucks for the income side. And then, you know, we’re not no, no felons.
They gotta have good verification of rent. I’m not too credit score driven. Kansas City, we don’t have a lot of people. It’s not like California where you have 750 credit score and you just can’t afford the house. So a lot of the people in Kansas City are gonna, they’re not like priced out of the market. If you have a six 50 credit score and you live in Kansas City and you make 50, $60,000 a year, you’re a homeowner. And so what I’m looking at is really the credit report. So if I’m dealing with a lot of medical collections, I kind of leave those to the side. I don’t really underwrite those. I’m just letting you know, if you owe T-mobile money in the last y you know, six months you can’t pay your phone bill, I’m probably not gonna rent to you. And so, you know, we’re kind of looking at the the credit file verification of rents.
And then another big indicator for me is just job history. I’ve noticed in the last 20 years, like people who’ve been on the job for 5, 10, 15 years, they, they’re like the best tenants, you know? So like having good job history is probably a great indicator on what kind of tenant you’re gonna have. You know, if you have a tenant that’s just been working for a year or two years, ki I try to find tenants that have a, a longer job history if I can. That’s a really good indicator for me. I’ll take job history and if anything was to happen, you know, they’re not gonna leave their job <laugh>. You know what I mean? So those tenants seem to be more solid. They have a control of their income, they know what’s coming, they know what to expect, they know how to budget. And so that’s a real big indicator for us is the job history as well.
That’s a very good way to underwrite. I mean, it makes sense. Yeah. You know, just the longevity with their employment. You don’t wanna see a lot of turnover. Right. But that’s a really good way to underwrite. So, makes sense. Very cool. Pat, anything else you wanna share with our audience about the Kansas City market and the opportunity there before we wrap it up?
Well, I feel like the market is ripe. The market is good. I’m continuing to buy, you’re buying the smart money is coming to Kansas City. I also own a real estate brokerage that has 300 agents. We close a lot of transactions and I see a lot of movement, like family just moving to Kansas City, from la, from New York, from Seattle. They’re just mo getting out of these places and moving to Kansas City because of the median home price. I mean, things are cheap here in Kansas City, relatively compared to the rest of the country. And as people figure out Kansas City and as they start knowing about it, as the secret gets out, price action is gonna continue to grow. And so I think getting in now, getting in before everybody else gets in and create good portfolio here, you know, five to 10, 15 homes.
And then the other good thing is you have the feet on the ground. So you have a great team and I feel like that’s super important for the out-of-state investor, right? Having people you can trust, somebody you know, somebody that has a proven track record and somebody that knows exactly what they’re doing, how to get it done, where to go. You know, that’s all the questions that I answered for all my investors. The who, what, when, where, why, and how. And like I’ve got those answers and we’ve got this proven track record of hitting our numbers year over year for our investors and going through the whole covid mess going through the recession. I mean, we’ve been through everything. We’ve got 20 years of doing this. And so that’s a real importance. So you have a, you have a great area, you have great numbers, you have great employment, but more importantly you have a good team behind you that I control and manage to help you with your assets.
Very well said. I couldn’t have said that any better myself. Pat <laugh>. Great summary. Very cool. Well I appreciate you taking the time to come on and give us an update on what’s going on in, in kc. I will just remind our listeners that if you’re interested in learning more about that market and the opportunities available, contact your investment counselor, whether it’s email or just give them a call. You know, just work with my team here and we’ll connect you with everybody you need to be connected with and show you what’s in the pipeline, which changes very regularly, sometimes daily. But you know, the inventory’s there cuz pat has a big operation. So again, pat, thanks for coming on today. I appreciate your time.
I appreciate you Marco. Thank you for everything you do and, and I, I love the way you look out for all these investors giving ’em advice on where to go, what to do, and finding the best people in the best cities. So that’s a, you do a great job of that. Marco,
Thank you.
Well, thank you very much. Appreciate you sharing that and saying that.
So that’s it. We’re gonna wrap it up today. Again, thanks Pat. Contact your investment counselor. If you have any questions or you wanna learn more, remember to subscribe to the show. If you haven’t done so already, it takes a whopping three seconds to do. Share this show with your friends and family and other people you care about that you want to help create wealth because this is all about creating wealth and financial freedom, which leads to time freedom. And that’s what we all want, so we can spend time with our friends and family. Thank you for listening. We will see you all on our next episode.
Download your FREE copy of: The Ultimate Guide to Passive Real Estate Investing.
Get your FREE coffee mug by leaving us a Rating and Review on iTunes. Here’s how.
See our available Turnkey Cash-Flow Rental Properties.
Please give us a RATING & REVIEW (Thank you!)