All Forum Posts by: Bob Woelfel

Try the National Real Estate Insurance Group or REI. They have a vacant dwelling policy that we use while we are rehabbing. Once we place a tenant we can change the policy and coverage.

I am not in any way affiliated with them. 

We just did a small 6 unit with Farmers Bank of Kansas City.  They've also financed our single family properties as well. 

I'm in KC and most of our properties rent between $7500-$1200 per month.  A 3-5% increase in that price range is around $25-$50 a month give or take.  Probably not a deal breaker for most of my people if we needed to bump it.  I keep a pretty close eye on rentals that come on the market close to mine and base my decision more on where I am relative to other properties than a general % increase.  If the tenants are good and things are going well I may not raise it at all for another 6 months or year as the relationship and investment is working.  Whenever a property becomes vacant though I am definitely going to advertise at market rent.  Others will differ in their approach.

Hey BP!

Our local tenant laws say no more than 2 persons per bedroom, except for children born during tenancy.  We will be renting a smallish (600 sq. ft.) 2 bedroom apartment in the next few weeks.  I'd be curious to hear from other landlords what their comfort level would be with a single parent and 3 kids with another on the way.  My partner and I have our thoughts as we both have kids, but would love other opinions.  Thanks.