All Forum Posts by: Luke Russell

I also think that's a good idea, Sam! (Mostly because I'm doing something very similar and I'm glad I did) I bought a single family residence last year and have been house hacking while renting out the other 2 rooms in the house. It's in a fairly desirable area of KC so I had to pay a little premium for it, but it depends on what your goals are and where you want to live. It doesn't cash flow but I just about hit even each month, while gaining equity and making improvements along the way... which is way better than throwing money into rent!

I also agree with @Lee Ripma that a small multifamily can be even more lucrative since you can gain more in rent, but affordable inventory of 2-4plexes in desirable areas in KC seems to be low right now, which makes it tough to find a deal. (I'm looking for similar properties in KC right now as well for my next investment)

Let me know if you want to chat some time

Hey BP,

I'm looking for my next buy-and-hold property in Kansas City and am realizing that acquiring properties can be a pretty slow process when you don't have a ton of capital to work with. I'm fine with slow accumulation of wealth, but it seems to me like there are quicker options out there - the BRRRR method being one of them, since (if done correctly) you can pull out money during the refinance and use it on your next deal.

My question is if anyone has had success with the BRRRR method in the Kansas City market, and if so, which lenders have you used for the hard money, refinancing portion, contractors for the renovations, etc. or if you've had issues with the BRRRR method, I'd love to hear that too. The process seems to include a lot of moving parts and if I go that route, I'd love to get some recommendations!

Thanks!

Thank you, everyone!! @Marsha Hill, that's an interesting article about the current conversation the city is having around Airbnb. It doesn't look like there are any major laws in place against Airbnb (to an extent) in Kansas City, but they are continuing to evolve legislation around short-term rentals since it's somewhat unprecedented. Though there aren't currently any laws on the books that would deter Airnbn, it makes me a little nervous that they could pass legislation at any time that changes everything. It's a volatile situation, for sure.

Does anyone have experience with Airbnb in Kansas City? I'm looking for advice on a couple things as I'm considering utilizing Airbnb for investment properties in the area:

1. Are there any local laws (on the Missouri OR Kansas side) that prohibit short-term rentals such as Airbnb?

2. Have you noticed any seasonal trends?

Thanks!

I would also be interested in any property management companies in the KC areas as well. I am handling my current rental on my own, but I know that I will need a reliable PM company as I continue to expand. If anyone has experience with a good (or bad) PM company in the area, any info is appreciated!

Hi @Christian Salazar, would you mind sending me the name of that agent as well? I'm looking to invest in a small multi-family property in Kansas City, but I would like to connect with a good agent regardless. Thanks!