Kansas City?

[MAC-W]

What can you tell me about Kansas City?

Hubby and I are investigating the possibility of taking advantage of the AUD/USD near parity rates and buying a small investment property in USA. (we'll basically be gambling that the parity situation doesnt last long term and comes back to the 'normal' levels of the last 20 years) (and of course that the US economy recovers long term but I think that one is a no brainer)

Our criteria for the chosen location are
1. Good mix of industries - not dependant on only one or 2 large employers or a single industrial base.
2. High / strong levels of ongoing municipal investment
3. Reasonable rental returns
4. Steady long term capital growth (no peaks and troughs)
5. Affordable property prices (under $100k US for a 2-3 bedroom property in a good/reasonable suburb)

From the limited research we've been able to do Kansas City looks like a good bet and seems to meet all our criteria, but I'd be interested in hearing from locals and others what their thoughts are.

Would it be a good long term investment or are there other areas we should be looking at that better fit our criteria?

Any info (good and bad) anybody can give will be much appreciated.

 

[OUpearlgirl]

I can't help with your questions, as I've never lived there, but I have visited it several times.

I'm in love with the city. The people are fantastic, it's beautiful, and the homes are to die for. I would absolutely love to live there. My best friend is from KC, so I will shoot her an e-mail with your questions and get back to you.

 

[Loves Vintage]

The primary question I would have is whether you would have a reliable property manager there, who would perform or coordinate repairs that he or she bills for and who would collect rent, in accordance with a written agreement with you, i.e. actually pay you what is collected, minus their fee. Unfortunately, in some locations (I cannot speak to Kansas City specifically), it is rather common for shady property managers to bill out-of-state or out-of-country investors for work that is not performed. That would be my primary concern.