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Old 01-29-2008, 04:42 PM
 
11 posts, read 44,291 times
Reputation: 24

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I own a few homes here and there. I am thinking about buying some inexpensive homes in KC to be used as safe, modest rental properties for section 8 tenants. I need some preliminary info before I make the effort of traveling to KC to house hunt.

I am not very familiar with KC. I have no knowledge of race relations or crime there. Before I get started and someone gets bent out of shape, let me be clear about a few things. I'm white. My husband is Hispanic. We don't care what color you are. So please, don't anyone call me a racist or get your feelings hurt. My questions are based on reality not on some PC utopia. I have no agenda.

I see a lot of homes listed in KC for five to fifteen thousand. Some are red tagged and need work. The demographics are predominantly black and hispanic with a few whites.

There is crime everywhere but there is a difference between petty theft and home invasions. I need to know if the following areas are very dangerous, have gangs or high crime. While renovating a house or collecting rents in the areas would I be a target simply because I'm white? Some of the asking prices are unbelievably low but I'm not sure if that's based on race and crime or on very old housing stock.

The zip codes in question are:

64109
64123
64126
64127
64128

Last edited by Tristan; 01-29-2008 at 04:43 PM.. Reason: reword
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Old 01-30-2008, 11:24 AM
TGS
 
360 posts, read 1,721,715 times
Reputation: 217
Please reconsider. Some of the areas you are targeting are gentrifying and an influx of Section 8 tenants with a landlord who doesn't live in the area will have a serious destabilizing effect. I beg you to stay away from 64109 and 64123. If you do buy, then spend a little more and do market-rate rentals. These areas can give you a better return with market-rate if you take into account the fact that there will be less maintenance.
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Old 02-04-2008, 02:32 AM
 
82 posts, read 275,950 times
Reputation: 46
Quote:
Originally Posted by Tristan View Post
I own a few homes here and there. I am thinking about buying some inexpensive homes in KC to be used as safe, modest rental properties for section 8 tenants. I need some preliminary info before I make the effort of traveling to KC to house hunt.

I am not very familiar with KC. I have no knowledge of race relations or crime there. Before I get started and someone gets bent out of shape, let me be clear about a few things. I'm white. My husband is Hispanic. We don't care what color you are. So please, don't anyone call me a racist or get your feelings hurt. My questions are based on reality not on some PC utopia. I have no agenda.

I see a lot of homes listed in KC for five to fifteen thousand. Some are red tagged and need work. The demographics are predominantly black and hispanic with a few whites.

There is crime everywhere but there is a difference between petty theft and home invasions. I need to know if the following areas are very dangerous, have gangs or high crime. While renovating a house or collecting rents in the areas would I be a target simply because I'm white? Some of the asking prices are unbelievably low but I'm not sure if that's based on race and crime or on very old housing stock.

The zip codes in question are:

64109
64123
64126
64127
64128
How about just finding someplace else to go? We have enough ghetto here as is. Why not find property in your own state? How about your own neighborhood? As the poster above said, some of those areas you mentioned are making a comeback. The last thing we need is some out of towner coming around trying to screw it up. I'll make sure to pass this on to some folks that are a part of that gentrification so if they see you around they might have some friendly words for you.

Last edited by Thrillcekr; 02-04-2008 at 03:46 AM.. Reason: forgot something
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Old 02-04-2008, 02:42 AM
 
120 posts, read 127,960 times
Reputation: 15
hehe, who needs another slumlord? Some peeps sure got some nerve. Sad, sad!
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Old 02-09-2008, 11:02 AM
 
2 posts, read 8,639 times
Reputation: 14
Default ThousandLakes

Hello, Readers!
Several negative comments imply that investors only care about themselves. Fact is, in many cities across the nation, including San Francisco and other larger cities, gentrification has provided for improving quality of houses, and not been a detraction nor caused a reduction in housing valuations.

Many investors put an awful lot of effort into making a house improved, which uplifts neighboring houses, and helps improve conditions for everyone ....and that process, one by one, can totally change the character of a neighborhood, irrespective of prevailing race(s) as residents. Race really has little to do with a neighborhood's appearance, and the pride of home-ownership felt by most home owners, or even renters!

As for HUD-rentals, that's a choice that owners or investors may make, though perhaps not always the soundest, since many HUD or Sec-8 renters have so very little disposable income, and simply cannot afford to ever "keep up with the Joneses, or Smith's, or Lopez's". Some Sec-8 renters do care about the appearance of their homes, be it an apartment/condo, or single family house -- they make efforts to have the interior and exterior of their homes kept nice and neat; and sorry to say, all too many others simply do not have the appropriate training or ability to assess how they might improve their surroundings!

With regard to single family houses, mostly the owners must accept responsibility for exterior upkeep; and provide for penalties for Sec-8 tenants who simply destroy property, or downgrade property.

Oftentimes when a house has been improved, substantial benefits to investors will occur 'down the road', usually after five years; however, during that time, if NOT renting to Sec-8 tenants, they will also reap rewards of having better class of tenants, as well as potentially increasing their monthly income, and having their property rights better respected -- we know, we've been through this process a number of times.

In that regard, we've taken extremely neglected houses, and made those houses shine; and have won approval of neighbors who also became our friends over the years, too! The demand for rental housing is usually quite high in most cities, and there is no real need to turn to Sec-8 renters, especially when a house has been nicely improved.

Specifically, to Tristan: You may wish to consider that Sec-8 tenants may not benefit you, nor your neighbors, unless very carefully screened, and going to their present rental home/apartment, to actually see how they may keep their home, and if they appear to have concern for property, their own, as well as other's property. You may discover that the best of worlds can occur by taking the time to screen for best tenants possible, which will not necessarilly be derived from the pool of most Sec-8/HUD tenants, unfortunately.

Sometimes, however, even the highest degrees of education worn by some well-heeled tenants, with well-paying jobs, will NOT assure you of having tenants who give a damn about property appearances or upkeep -- as incredible as that may seem.

Good luck!

And oh, by the way: A major magazine rated Kansas City Metro (including outlying cities) as eighth best city for rental investments, due to market conditions, etc.

ThousandLakes, seeking a fishing pole.
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Old 02-13-2008, 11:54 AM
 
11 posts, read 44,291 times
Reputation: 24
Wow! You people are way off base. Section 8 housing doesn't bring in bad people and I am not a slum lord. The homes I own look better than the homes around them. They have new roofs, Hardiplank siding, landscaping, etc. My tenants are screened carefully and I know how to be a landlord. As for "market rate rentals"........I'm paid more rent for my houses on section 8 than non section 8 rentals. I'm not "turning to section 8 renters" because I'm desperate. It's the right thing to do.

You need to alter your view of Section 8 tenants and landlords. It's greatly insulting. People on section 8 are not bad people. They are tax paying citizens like you and I. They are single mothers, low income families, the elderly and disabled. Shame on you for acting like they are all drug dealers or criminal trash. Really! You should be ashamed! The government takes our money. It is a wonderful thing that it can help citizens with much needed housing instead of spending it to start wars and kill people.

You should be thankful that people want to move into ramshackle neighborhoods, fix them up and provide affordable, clean housing for the less fortunate around you.

I asked for specific information about the area. Instead, I got attacked and insulted because I help others for a living. I'm so disappointed that my fellow Americans have such unkind attitudes toward those less fortunate than them. While some of you may want to ignore the poor and drive the homeless out of town so you can pretend they don't exist, I am actually doing something to make a difference in the world. I don't just pretend there is no need. I go out and meet the need as a part of walking my faith.

Most Americans are a few paychecks or an illness away from homelessness. They look and act just like you do. People like me are trying to help them. What are YOU doing?

Last edited by Tristan; 02-13-2008 at 12:32 PM.. Reason: add to
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Old 02-13-2008, 12:06 PM
 
Location: Tower Grove East, St. Louis, MO
12,063 posts, read 31,621,105 times
Reputation: 3799
Quote:
Originally Posted by Tristan View Post
You should be thankful that people want to move into ramshackle neighborhoods, fix them up and provide affordable, clean housing for the less fortunate around you.
I agree, but I should think you would know that most landlords who look specifically into section 8 housing are doing so in order to make the most money while providing the fewest amenities and services - i.e. slumlords.

When you ask about the cheapest places in a city you don't live in, it's not a big jump to guess you're a slumlord. If you're not, that's great.
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Old 02-13-2008, 12:44 PM
 
11 posts, read 44,291 times
Reputation: 24
How do you know I won't move there? How do you know I don't keep a close eye on my homes? You're making a lot of assumptions.

I guess I wasn't clear. I am doing PRELIMINARY RESEARCH. I can't move somewhere until I know something and I thought this might be a good place to start. I've always had civil conversations on this board. This just shows how deep petty greed, snobbery and the hatred for the poor runs in this country.

I simply asked about crime and race relations in a few zip codes. I see that race isn't the issue. The attitude of residents toward their neighbors is the reason the area has declined so badly.

Last edited by Tristan; 02-13-2008 at 01:18 PM..
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Old 02-13-2008, 01:38 PM
 
Location: Tower Grove East, St. Louis, MO
12,063 posts, read 31,621,105 times
Reputation: 3799
Quote:
Originally Posted by Tristan View Post
I own a few homes here and there.
This in no way makes it seem as though you are looking to move to the area.

You're a pretty sad person if you think the people of this board hate poor people. What they hate are slumlords looking to make an easy buck on the backs of the poor of this community.
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