When you are investing in real estate in Kansas City you need to understand the fundamentals of owning investment property. (Also true wherever you are in the country.) As I sit here and read that average sales home prices have declined a little but that existing inventories are shrinking I’m continued to be amused at the conflicting data being offered by everyone.
We all agree all real estate is local. But we love to throw out broad numbers that cover an entire region. Go figure.
Whether buying in an up market or a deflating market the fundamentals do not change. There are 4 Benefits to Real Estate Investing that I write about time and time again;
Relying on any one of the 4 Benefits without taking into account the other three is borderline foolish. In the case of relying solely on #4, well, we’ve seen how that’s worked out. But I am able to make the same case on relying solely on #1.
Make sure that at whatever price, whatever down payment and whatever interest rate you buy an income property at that the numbers “work.” It is really as simple as that.