Suggestions needed to sell my rental in Kansas City, MO

[Yippi Jim]

Hello all,

I am consider selling a rental property in KC, MO. The location is not one of the good areas (64130) so it is relatively cheap. I bought it around 85K in 2021. Currently, there is a tenant in the property. 

How is the current market in the Kansas City, MO? Do you recommend that I start the process when the current tenant's lease ends, or when the tenant is still in the property? And do you have recommendations for the agents that I can reach out to?

Thank you

[Milton Chamberlain]

Hi,

I would recommend making it vacant.

Traditional Owner occupant financing requires the buyer to take possession within 60 days. Having the tenant  makes it:

A) harder to show the property, making it harder to sell

B) prevents a majority of owner occupant buyers from being able to offer on the home. So with only a majority of investor buyers, your sold price will be lower.

You can sell it occupied, but if lease ends soon, I would suggest making it vacant, painting interior, cleaning it, etc. this will get you the most money.

I have connections for all those services

This year will be like the last two years. Which means we will start to slow down in late July, and then enter the winter slow season in October.

Assuming rates remain above six percent, I’m guessing the spring market will kick back up in February. Just like the last two years.

Right now we are still in the sellers busy summer market.

You can of course sell from September to February, but there is less buyer demand. So your sold price would likely be less than selling in spring/summer

reach out if you want to discuss more