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Old 12-08-2011, 05:00 PM
sev sev started this thread
 
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Hello All,

I may be moving to the South KCMO area for work (near 71 & 435) and I am interested in some areas that are not too far away and are thought of as 'up and coming ' and improving. Utimately, I would like to buy a fixer for and be able to put some sweat equity into it and make a profit.

My wife and kids will be staying in California, so I am not overly concerned about schools or some crime, as long as they are improving.

I've read about Brookside here and it sounds interesting to me. Would you consider it to be a neighborhood that is improving or declining? Also, any other neighborhoods that I should look into, or streets that I should not look north/south of or east of?

Thanks in advance.
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Old 12-08-2011, 05:50 PM
 
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Sounds like you're basically looking for hoods that are underpriced or hoods that have homes that could be flipped higher if rehabbed. Brookside tends to have homes that are already remodeled but is worth checking into as some may not be. UMKC to W Gregory area next door is something to check out as there are a lot of cute bungalows. Or maybe Waldo (75th/Wornall 1 mile radius), but Waldo doesn't really have a momentum - though they have a Trader Joes nearby and people will actually move in that area because of it.

The housing market isn't expected to return for a while but it seems to have bottomed out and some older areas that are moving forward from the doldrums are W of downtown - 19th/Summit area, Longfellow just E of Crown Center, around 27th/Holmes. Parkville and Riverside just N of downtown might be already relatively hotter as in not an opportunity to flip for higher but there might be some fixer uppers. Maybe even Columbus Park, E of City Market if you want a challenge - not sure how ambitious you're considering.
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Old 12-08-2011, 06:00 PM
 
Location: Old Hyde Park, Kansas City,MO
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I would look for any fixer uppers in the 64108, 64111, 64112, 64113, 64114 and certain parts of 64110 zipcodes. If you fixed the house up in any of these zipcodes you could easily rent the house out to college aged people if you didn't want to sell
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Old 12-08-2011, 06:08 PM
 
Location: Old Hyde Park, Kansas City,MO
1,145 posts, read 1,998,962 times
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Here are a couple id consider
3918 Terrace St Kansas City MO - Home For Sale and Real Estate Listing - MLS #1756661 - Realtor.com®

4204 Mercier St Kansas City MO - Home For Sale and Real Estate Listing - MLS #1738841 - Realtor.com®

47 E 32nd St Kansas City MO - Home For Sale and Real Estate Listing - MLS #1746726 - Realtor.com®

3331 Wyandotte St Kansas City MO - Home For Sale and Real Estate Listing - MLS #1714798 - Realtor.com®

2004 Jefferson St Kansas City MO - Home For Sale and Real Estate Listing - MLS #1729095 - Realtor.com®

4400 Campbell St Kansas City MO - Home For Sale and Real Estate Listing - MLS #1715283 - Realtor.com®

None of these areas are in slummy areas, these probably just need major fixing
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Old 12-08-2011, 08:09 PM
sev sev started this thread
 
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Thanks, this will help me to start researching.
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Old 12-09-2011, 12:10 PM
 
Location: Washington, DC area
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This would be VERY close and it's only 20k (zillow says it's worth 66k and it sold in 2006 for 120k). Not sure how in the world you could wrong here. It would be like buying a mid range car. I wouldn't call this area ghetto, just down on its luck and it may have bottomed out long ago and has nowhere to go but up especially when the bannister mall redevelopment breaks ground, which I think should happen in the next year. Regardless, 20k? You would probably easily make something off this house pretty quickly and something like this would fit your needs (one person, don't care about schools, can deal with "some" crime issues etc). It's not like the houses around it are all 20k, homes go for 90k and up in the area. Only been on market for four days. Somebody will snatch that up quickly. Actually, if I lived in KC still, I would probably go look at that house myself and see just why it's priced so freaking low. That would be a great investment property so long as the house isn't on a sink hole or something.

5404 E 97th St, Kansas City, MO 64137 MLS# 1756897 - Zillow

Last edited by kcmo; 12-09-2011 at 12:25 PM..
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Old 12-09-2011, 05:32 PM
 
Location: Overland Park, Kansas
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The house on East 97th may be a good deal, but its location is not an "up and coming" neighborhood.
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Old 12-11-2011, 10:13 AM
sev sev started this thread
 
14 posts, read 50,632 times
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It seems like it would be hard to go wrong with a house for $20K. Considering that if I don't buy a place, I would have to rent, and that would probably be at least $500 month.

Makes you wonder why it is so cheap. I guess if you can buy a property that is that far below the comps, then it does not matter too much if the neighborhood is up and coming.

I'm not sure that it would even be possible to get a $20k mortgage, but if you did get one at 5% interest, that would be $107 month. LOL. I pay more for my 10x12 storage unit.
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Old 12-11-2011, 02:21 PM
sev sev started this thread
 
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Recent article on the area Cities moving beyond segregation
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Old 12-23-2011, 11:39 AM
 
Location: Kansas City, MO
27 posts, read 43,826 times
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Quote:
Originally Posted by sev View Post
Recent article on the area Cities moving beyond segregation
great article sev, reading this and it helps me a lot. thank you!
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