152: Missouri Markets: St. Louis and Kansas City RE Investing
Get Rich Education
Keith Weinhold
4.3 • 602 Ratings
🗓️ 27 June 2018
⏱️ 39 minutes
🧾️ Download transcript
Summary
#152: I recently made a real estate market field trip to St. Louis, Missouri. As one of the 20 largest U.S. metropolitan areas, its job growth and diversity of business sectors support durable rental income streams for real estate investors.
Typical price points are $1,100 rents and $110,000 purchase prices for single-family income property in St. Louis.
St. Louis has city housing inspectors - upside: this supports neighborhood condition, downside: they must be complied with.
Kansas City, Missouri is also experiencing steady job growth amidst varied employment sectors. Visitors to the city remark about the area's cleanliness.
Both St. Louis and Kansas City have investor-advantaged rental neighborhoods that consist of about 65% owner-occupants. This promotes good curb appeal and safety.
Missouri has Landlord-Tenant laws which favor the investor (landlord) more than the tenant.
We're discussing investment in turnkey income property: typically single-family homes that are already renovated, tenanted, and under management on that day that you buy.
Learn more at: GetRichEducation.com/StLouis and GetRichEducation.com/KansasCity.
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Listen to this week's show and learn:
00:57 Apartment building investors have more interest rate risk than 1-4 family investors.
07:32 St. Louis, Missouri is a Top 20 U.S. metro.
09:48 St. Louis' technology and medical sectors.
11:01 Not many St. Louis turnkey operators. City inspectors.
14:30 Neighborhood safety.
16:08 Tenant income $40,000 to $55,000 in St. Louis.
17:10 1% rent-to-value ratio.
18:44 Renovation extent.
23:30 Kansas City overview and their substantial job growth.
26:50 Relatively low property taxes.
27:03 Missouri Landlord-Tenant Law: 30-day evictions.
27:31 Kansas City cleanliness.
35:04 Investors are assigned an "Investor Concierge" as your one point of contact.
Resources Mentioned:
Transcript
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| 0:00.0 | Get Rich Education is brought to by Nerata Real Estate, Mid-South Homebuyers, and Ridge Lending Group. |
| 0:10.0 | Welcome to Get Rich Education with Keith Weinhold, giving you information and ideas on the investment that has turned more ordinary people into millionaires and billionaires than |
| 0:22.1 | anything else and can provide you with more wealth and happiness than you ever thought possible. |
| 0:28.4 | Now, here's your host, investor, entrepreneur, business owner, and educator Keith Weinhold. |
| 0:39.5 | Welcome to GRE, Get Rich Education, episode 152. |
| 0:43.6 | Hi, I'm your host, Keith Weinhold. |
| 0:45.0 | Back to help you build massive, passive, durable income streams for yourself. |
| 0:50.8 | Both St. Louis and Kansas City are strong real estate investing markets. We're going |
| 0:55.7 | to discuss that today. One thing that you need to be mindful of as a real estate investor in |
| 1:01.4 | these times is your interest rate risk. There's really a potential interest rate divide |
| 1:07.7 | emerging between single family homes and apartment buildings. Look at what apartment building |
| 1:13.3 | investors do. They typically buy a building with an interest rate that's fixed for a period |
| 1:19.0 | of only five to ten years. Your rate is only going to stay put for that long as an apartment |
| 1:24.8 | investor. Well, right now, there's really very little room for interest |
| 1:29.0 | rates to go down, of course. So in five or 10 years, it's pretty likely that when a long-term |
| 1:34.7 | apartment investor goes to refinance, they're going to be paying a substantially higher interest rate |
| 1:40.9 | than they are today. And they have that uncertainty that they'll have to |
| 1:45.2 | deal with that entire time leading up to that as well. So, well, now you might say, well, if that type |
| 1:51.7 | of apartment investors sees rates going up, they can just sell, say, two years from today. |
| 1:58.0 | Well, apartment buildings take some time to sell, and really at that time, |
| 2:02.0 | rates are already going to be higher, and that's going to put downward pressure on how much your |
| 2:06.9 | takeout buyer can afford to pay at that time. Besides the fact that as an apartment investor, |
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