All Forum Posts by: Brianna Reynolds

Oh yes, like @James Furlo mentioned above, rentometer is an excellent resource. 

Price high, see what kind of feedback you're getting and then lower if necessary. Top three mistakes you can make on your rental listing will be price, photos and condition of property. 

Is there verbiage is in the lease regarding a rental increase? 

Was their initial lease a month to month or a 6 month? In most cases it's a 30 day notice minimum, but you'll need to verify with your state laws on rental increases. 

Congrats on your first investment! 

You'll want to pull rental comparisons in the area to see what everyone else is doing and go from there. 
Facebook marketplace, Zillow, etc... Go through and compare what's for rent currently. Be sure to match square footage, how many bathrooms or bedrooms, and amenities. 

Kansas City, MO student rental areas are doing great. KU/UMKC Midtown, etc. A lot of that area has had some amazing improvements in the last few years. 

I believe @Kim Tucker is the one to ask for local meet-ups. I know she's mentioned a virtual and an in person that regularly happen, you may search the forums for her posts. 

If you have someone you like for the property management I would absolutely utilize them for the purchase. 

When we complete similar deals for clients we'll be able to look at what rent they should expect along with any rehabs that will be needed prior to rental and have a more thorough timeline than if they were using separate entities for each. Your PM/Realtor should be able to do the same. 

 I love referring people to that blog, it's an EXCELLENT resource for out of state investors especially. 

I know Blenheim is great location for an investment property, the area has been increasing lately. 

Personally our investors have mainly stuck to north of the river. NKC, gladstone, platte, independence, liberty, etc... Although if you can find the right deal in that area I'd go for it. Be sure to pull market comps though, especially noting how long some of the listings have been available. 

 I 2nd Julie & Jamie, we use them and they're amazing 

I would absolutely recommend checking out the following blog by James, he does an excellent job breaking down the different neighborhoods and what to expect. It's hard to have blanket terms like "lower end" and "high maintenance", perhaps I misunderstood what you meant. (I'm a little behind on my coffee intake for today, lol) 

Kansas City itself is very broad there are different neighborhoods which will bring in different kinds of income/tenants. Our investors have had a lot of luck in Gladstone, Platte, Independence & Liberty with not one problem tenant (largely due to our screening conditions). Although, I know this can apply to most places, you may be looking at different conditions from one street to the next. That's why it is imperative for OOS investors especially to do their research on what areas they're purchasing in and have people they can trust handling their properties.  

I'm very familiar with the various sides of Kansas City if you have any questions I'd love to help in any way I can. Good luck!

  https://www.biggerpockets.com/member-blogs/4704/88461-the-ultimate-guide-to-grading-kansas-city-missouri-neighborhoods

If you have someone applying to live in one of your properties, how do you handle employment verifications that are outsourced and charge a fee?

For example The Work Number holds a $50 charge and unless the $$ is paid the employer is unable to verify anything. 

Can you request the applicant pay the fee themselves?