Chris Lengquist, RIPS

I'd love to have you go on over to my new facebook page promoting real estate in and around Olathe, Kansas. As regular readers of this blog and of BBQCapital know, Olathe is a fast growing suburb of Kansas City, Missouri. The name of the site is Olathe Real Estate Keller Williams Realty.

Now, it's a new page so there aren't very many bells and whistles...yet. But I'd love to have you join if you are a facebook member and a regular reader of Kansas City Real Estate & Investing. What I discuss here and what I discuss there could be, will be, two different things.

Fan me!

http://www.facebook.com/home.php?#/pages/Olathe-KS/Olathe-Real-Estate-Keller-Williams-Realty/166719317560

This Independence half duplex for rent is available to the first qualified tenant that says "Mine!"

Located at 1400 S Harris Ave, Independence, MO this half duplex for rent is being leased for $625 per month and a $575 security deposit. We are an equal opportunity housing provider.

Downstairs you will find a size-able living room, dining room, kitchen (with pantry), half bath, utility room and a very large storage room. Upstairs to the two bedrooms, one full bathroom and plenty of closet space. New interior paint, clean carpet and homey atmosphere.

There is a very large yard to play in or grill in or whatever. There is a two space private parking area right in front.

This investment property for rent is being offered by Chris Lengquist of Keller Williams Realty, Diamond Partners, Inc. Chris is acting as the property manager for the landlord.

To schedule your private viewing please call Chris at 913.322.7505.

This Kansas City house for rent in the Waldo neighborhood is a winner! Featuring 3 bedroomsand 1.5 bathrooms, wood floors, a HUGE basement and a heating & air conditioning system that is less than 18 months old. Did I mention the heating & air is high efficiency? That should help with the bills. Oh, and there is a one car garage.

Located on a corner lot across from a popular but quiet city park this home is a short walk to the bus routes of Holmes and 85th Street. And to all that Waldo has to offer. The yard has a dog walk and dogs are permitted with a $200 non-refundable pet deposit.

The address of this house for rent in Kansas City is 8301 Oak St., Kansas City, MO 64114. The asking rent is $845 per month with an $800 security deposit. We are an equal opportunity housing provider.

To view this home you need to call Chris at 913.322.7505. Chris is a licensed real estate agent in the states of Kansas and Missouri with Keller Williams Realty, Diamond Partners and is acting as the property manager for the landlord.

Olathe Duplex For Sale

This is not my listing. But I am really liking this Olathe Duplex that is for sale. Priced at $184,950 the price has been lowered from an original asking price of $200,000...which I thought was a little high. Each side is 2 bedrooms and 1.5 bathrooms with a one car garage per side. (Not my photo so sorry about the quality.)

The really good news? It's in Olathe which is still a healthy real estate market. It's across the street...literally...from Mid American Nazarene University. And just minutes from I-35 and everything Johnson County, Kansas has to offer.

I think you can expect rents in the $750 - $775 range. The duplex is currently not rented and is owned by the Nazarene Church from what I understand.

If you are in the market, can qualify for the investment loan and have the cash on hand to make this work I strongly recommend you take a close look at this place. Contact me today if you are looking for an investment property in the Kansas City area. My phone number is 913.568.1579.

Kansas City Real Estate: A Glimpse At The Current Market

I'm going to break for this post from talking about Kansas City real estate investment property and talk about a specific part of the Kansas City real estate market and that is Johnson County, Kansas. You see, a real estate investor client of mine who has purchased a few homes from me has asked me to help his son and fiance to buy their first home. They are looking for something that will give them the warm and fuzzies but also be a solid buy and a good investment.

What they want is a home in the Overland Park/Leawood area of town priced between $175,000 and $200,000 with at least 3 bedrooms, 2 baths, 2 garages...you know the drill. Most of their money will be spent on the down payment, closing costs and move-in expenses so they don't want or need a fixer. So what can we find them "under-valued?"

Let's break for a moment and talk about mindset. With all the bad news thrown our way day after day after day (by the way, go back and read my posts from a couple years back...you'll see I never bought in to the whole "boom" thing for KC, either) you'd think you could pick up houses on the cheap all day every day. So what exactly does "under value" mean?

In my humble opinion Johnson County, Kansas is, has been and will continue to be the economic engine of Kansas City. Oh, I know KC has more population and business headquarters and all that. But the money and exec types have always ventured over to the Kansas side. (Calm down Missouri. I didn't say all the money and execs and I didn't say we were better than you.) ;) Although our football team beat your football team...

Real estate values in the Kansas suburbs simply have not dropped the way people have seen real estate values drop as little as a few miles away on the Missouri side of the line. There are only 45 homes available that meet the criteria of these new buyers and really only 9 of them look all that appealing. Days on market? Looks like about 122 is the average...throwing out one on the market for about 2 years.

A closer look reveals some more interesting thoughts about our current real estate market in Johnson County, KS...or at least this part of JoCo. In the last 6 months (that's what appraisers are looking at, right?) the average days on market for homes in that price range has been 73 for the solds. Average asking price has been $187,421 with average sales price right at $181,738. That's still 97% of asking price!

Does that sound like a depressed real estate market to you? No. Houses are not selling in a week or two any more. No. You can't just ask whatever you want price wise, either. But ask yourself this the next time you are hearing all the bad real estate news: What does this have to do with me and my current situation? Maybe everything. Maybe nothing. That's why you need professional help when trying to decide.

One last note. And this will concern Kansas City real estate investing. I've been accused of being a snob when it comes to helping people buy residential investment property. But if you'll look at the rental properties I've sold to my buyers over the last few years I'd put their current values next to any current values in the country. Some have actually appreciated even as we stand today. Others are even and a few are actually a little depressed. But in all cases rent covers the costs as we initially calculated. So even the depressed houses have the wherewithal to ride this storm out.