All Forum Posts by: Melissa Robbins

@Mason Blake - I'm a new investor that's chosen KC. I have three SFHs in the area but live in Denver. I have one in Blue Springs, one north of the river (in The Coves) and my recent purchase was in KCK - Wyandotte County, just east of the speedway. The taxes are high there but rental inventory is low so I was able to ask for a healthy amount for rent.  I'd love to join groups via zoom and share what I know. But I am new at this so not an expert!  

The resources shared in this thread were helpful for me too. 

Congrats!  I can also attest this does work. I did this with my own home in Denver and saved money.  I have one rental in Jackson Cty so will keep my eye out for my next statement. 

Hi Brandon, 

Thanks for sharing your excitement. I'm a new investor myself and also chose KC. I purchased three SFHs this year and rented each quickly, and am planning for more purchases. Love that you spent the last year or so reading books, listening to podcasts - I can totally relate!  I live in Denver but would love to network, share tips, and learn more about your plan. DM me and let's connect. 

@Joe Splitrock Thanks for your feedback. This company charges a $400 termination fee if I term before 12 months but I think my case is big enough that they would let me out. I'd pay the $400 though, it's worth it due to the additional stress and headaches the company causes. 

@Scott M. - Thanks for your comments. I think the tenants will be ok overall. I am concerned about one because the relationship seems strong.  But I work in multi-family and I can find a way to communicate the change so it doesn't come across as accusatory. The current management leans heavily on fees throughout the lease for ancillary income so they may be happy that I don't charge these. They charge $10 per month for a/c filters, $75 for inspections twice yearly and $300 for pet inspections once per year, none of which I receive. They were supposed to charge $20 pet rent for me but they missed this so the PM is crediting this to me each month but even that is not worth the headaches they cause in other areas. Thanks again!

Thank you @Nathan Gesner, @Peter MacKercher, @Bjorn Ahlblad. Your feedback has been very helpful. @Michael King - I'm in the KC area. @Drew Sygit - Thanks for sharing the blog, I will check this out. 

I'm contemplating a management change on two SFHs in Missouri. We are three months into the agreement and they found renters for both. But the problems with overcharging for maintenance, poor communication, and bad record-keeping are overwhelming. I'm very much regretting my decision to select this group.  If I terminate the contract early and select another PM, I believe the lease signed between them and the tenant is still valid, correct?  Has anyone had problems enforcing lease terms if the owner changed management companies during a lease?  The lease is signed in the name of the management company with the word- Owner - in parenthesis next to it. 

I realize this is an old thread but curious which company @Alexandra Sales selected.  I'm a new investor with two SFHs in KCMO.  I selected a management company and am having serious doubts about my choice. The three providers mentioned in this thread look interesting.  Would love to hear more about your journey, Alexandra, if you have time to update. Thanks! 

Investment Info:

Single-family residence buy & hold investment in Kansas City.

Purchase price: $242,000
Cash invested: $60,500

Four bed, 3.5 baths, 2900 SF.

What made you interested in investing in this type of deal?

Increasing home values in the area. Bought as-is for $30K less than area comps.

How did you finance this deal?

Conventional

How did you add value to the deal?

Updated paint, lighting, and carpet.

Thanks, Mike. I appreciate the post. I researched several KC area banks and it ends up Caliber, my previous loan company on my own personal home, had the lowest amount with a $25,000 minimum. I won't need a loan quite that low and still need to compare fees and closing costs. But at least I know where I can go when I need it.