MTR in a rough side of town

[Misael Herrera Granados]

Hello all, 

I purchased a property in the KC, MO area and have spent the last 10 months remodeling it. The property is almost finished and the interior has a full modern look with brand new paint, flooring, carpet, bathroom, kitchen, etc... One doubt that I keep running into though, is the fact that the location is not the greatest. Personally, I'd give it a C rating and the houses around it aren't all in the same condition as mine. I realize I did not hunt out location as great as I should've when I was looking, but the purchase was made BEFORE I learned about "location, location, location". On top of this, I was rushed with the fear of increased interest rates. 

My question is, would it still be possible to put my property as a MTR in a C-rated location? Pros to this area are:
- The plaza (nice area) is a 5 minute drive
- Downtown is an 8 to 10 minute drive
- KU Medical Center is 8 to 10 minute drive
- UMKC and Rockhurst University are 3 to 5 minute drive
- Furnished Finder shows 59k searches for MTRs in the area, and my property is at the edge of the heavy listing location (see image below with the red circle)

Overall, it makes me nervous to furnish this property if it's not even worth it to put it up as a MTR if I don't even get any bookings. Any advice?

P.S. I'm open to network with local MTR investors! I'm new on this path and want to grow with others in my real estate journey. So, if any of you are open to meet up in person to chat, I'd love to take you out for coffee or lunch! :)

[Jamie Banks]

One of my MTRs is in West Philadelphia in a C neighborhood. First off, why is the neighborhood considered a C neighborhood? C doesn’t always mean high crime, by definition a class C neighborhood is a working class neighborhood with a mix of tenants and owner-occupied homes in below average school districts. 

My MTR is doing great but I admit I get questions about the area all the time. The immediate area is fine but there’s a few blocks several streets away that should be avoided and I communicate this to potential guests. I also provide a guidebook that shows them the best places to eat, shop, site see, etc that are in the safest areas of town. I even include a security system through Simpli Safe because you can never be too safe.

An MTR in a C class neighborhood could still be very profitable just make sure you take steps to ensure the guests have a positive, safe stay to the best of your ability. If the area is crime ridden though it’s probably not the best for MTRs.