Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Vicki Stewart

Vicki Stewart has started 2 posts and replied 42 times.

Post: Troost Park, Kansas City

Vicki StewartPosted
  • Real Estate Investor
  • Kansas City, MO
  • Posts 43
  • Votes 16

@Omi C. I drive a 5 mile stretch of Troost every day to and from work and pass through the intersection at 31st multiple times each day. I work on Troost just a few blocks north of there. I also go into the war zones frequently and this is not one of them. The "murder factory" is 64130. I typically advise all investors not intimately familiar with KC to avoid 64130, 64131, 64132 and all 6412-anything zips. Troost Park is 64109. 

You've seen the data so you know it's still a higher risk (and higher crime) area than the typical or inexperienced investor should consider, especially if you're out of state. But, you are correct, there are definite signs of gentrification. I've driven this route almost daily for 12 years now and have seen significant improvements and signs of more to come including new builds. There are some exciting things going on but any investment in the area requires extensive research and the right team.  I say, if you're up for all that, more power to you!  Somebody's gotta do it. :-) Just proceed with great caution. 

I'm happy to try to provide more details, the good and the bad, if you're seriously considering this. Just PM me.

Post: Duplex property in Kansas City

Vicki StewartPosted
  • Real Estate Investor
  • Kansas City, MO
  • Posts 43
  • Votes 16

@Josiah Mosley I agree with Brady. I'd advise any out of state investor to avoid the 64128 zip code without thorough knowledge of the area and a local team that has already proven themselves to you. In addition, 6412-anything will be the same. Sorry to burst your bubble but don't give up, KC has a lot to offer. 

Post: Good tenants but getting annoying

Vicki StewartPosted
  • Real Estate Investor
  • Kansas City, MO
  • Posts 43
  • Votes 16

Thanks everyone for the helpful replies!

@Matthew Paul removing the disposal has definitely crossed my mind!

@Arthur E. @Sylvia B. @Randy E @Josh Bakhshi @ Stephen E @Nathan Duncan (the @ feature is only working sporatically?) Thanks for validating my thoughts! Since these are the first unreasonable tenants I've dealt with directly, I admit I lack a little confidence. 

They did view the entire place before signing the first lease, I did provide them with a new microwave and the rent is smack in the middle of market rate. So, I will stick to my guns thanks to your responses. Yea BP!

Post: Good tenants but getting annoying

Vicki StewartPosted
  • Real Estate Investor
  • Kansas City, MO
  • Posts 43
  • Votes 16

This is my first "landlord problem" post. Sorry it's long but I'm at my wits end. I realize I could have bigger problems because the tenants take care of the property and pay on time. But, the husband is getting annoying. 

The background is that they moved in 17 months ago (18 month lease) after my first tenant abandoned the house. The current tenants discovered a few repairs were needed because the first tenant hadn't reported problems. My PM was slow to respond and when I finally became aware of this I contacted tenants directly to apologize and then straightened things out including firing the PM. I now self-manage.

I have now paid to have the garbage disposal side of the kitchen sink snaked 4 times, each time giving them verbal and/or written preventative instructions and told them to use it minimally (I've already decided to remove it before my next tenant, if not sooner). After the 3rd time I told them to stop using it and any future problems would be at their expense. I provided mesh screens to catch debris. The 4th time, he was "sure" there was a bigger problem with the plumbing, that the disposal needed to be replaced and there was an odor coming from the drain. I figured I couldn't make them financially responsible since it wasn't in the lease, so I had another plumber out to check for things like a flat line and a problem with the vent pipe. The plumber said, as the others did, they are abusing the disposal. They said they had been "barely" using it but the plumber reported the wife said she had cleaned corn a few days earlier. Who knows how much of that she put down there? He explained the pipes are smaller than what is used these days so a new disposal wouldn't solve the problem.

I relayed this to them and told them not to use the disposal at all. I explained that I live in a condo about the same age as the house (65yrs) and I don't use mine for the same reason. The husband said the drain is still slow sometimes but drains better if they turn on the disposal.They seemed ok with all that and I didn't hear any more about it. Until now.

They told me they want to renew their lease at the end of the month so I emailed the new lease for their signature. And, yes, it makes them financially responsible for drain clogs! I did not increase the rent because the market is stable and all the hassles they went through early on. He sent the following reply:

I was thinking that there will be a change in the Monthly Rents because

- Kitchen sink is not functional and the occasional bad smell,

- Microwave was not the size we met when we came in and now we have to use ours

- During entry, we were told it has double ovens, but we realized it doesn't

The sink is functional because it's only the disposal side that is slow (not clogged). IF anyone told them there was a double oven it was the PM. Also, when I bought the place, it was obvious to me it was a microwave, not an oven. The microwave/oven combo quit and had to be replaced with separate units because the old dimensions were obsolete. The first replacement microwave quit already. It was covered by warranty but that unit wasn't available so was replaced with a slightly smaller one. A few weeks later the tenant told me to pick it up because they bought another, slightly larger one, without complaint at that time.

Am I being unreasonable in some way by not wanting to LOWER the rent? How would you respond to his request?

Thanks in advance for any feedback you may have.

Post: Take the money and run???

Vicki StewartPosted
  • Real Estate Investor
  • Kansas City, MO
  • Posts 43
  • Votes 16

@Andy Mink My thoughts exactly. The farmer and even other owners in the area could make it difficult to keep the place rented. I'd counter to see if I could get 80,000 out of it. 

Post: Wholesale Success Smashed it!!

Vicki StewartPosted
  • Real Estate Investor
  • Kansas City, MO
  • Posts 43
  • Votes 16

Nice!

Post: Wholesale Success Smashed it!!

Vicki StewartPosted
  • Real Estate Investor
  • Kansas City, MO
  • Posts 43
  • Votes 16

Congratulations @Christopher Goldie !

How much was the rehab? 

Post: New to land flipping--seeking advice

Vicki StewartPosted
  • Real Estate Investor
  • Kansas City, MO
  • Posts 43
  • Votes 16

@Douglas Larson 

Podcast #39 is what opened my mind to land investing. :-)

Your 2nd paragraph describes the strategy I had in mind with this group. Of course, I don't plan to rely solely on builders but thought it might be a good idea to try to include them on my buyers list. Judging by the feedback here, I'll just devote a small percentage of my efforts on this approach. And, set aside the idea of partnering unless an obvious opportunity presents itself.

Thanks for the advise!

Post: Have Signed Raw Land Contract, Now What?

Vicki StewartPosted
  • Real Estate Investor
  • Kansas City, MO
  • Posts 43
  • Votes 16

Post: New to land flipping--seeking advice

Vicki StewartPosted
  • Real Estate Investor
  • Kansas City, MO
  • Posts 43
  • Votes 16

@Jay Hinrichs 

Thanks for your input, much appreciated. I'll adjust my sails accordingly.