About two months ago I started saying that winter was going to be a great time to pick up good investment property here in the Johnson County, Kansas area. And I like it when a plan comes together.
Over the last two months inventories have swelled from about 42 multi-family housing units for sale in Johnson County to today’s number of 72 multi-family housing units for sale. Many/most have starting prices too high and that is to be expected.
Realty is quickly setting in on many of these sellers. They are trying to sell at premium prices, above and beyond what was reasonable even 18 months ago. How do I know? Because their rent to purchase price ratios are out of whack. Numbers don’t lie. I know I can show each of these sellers the past three years of pricing trends and get them down.
Most of these investors own these properties and know the real numbers anyway, even if their REALTORs don’t. I just need to start picking and choosing.