landlord friendly Kansas City, MO

20 Replies

How landlord friendly is Missouri?

How is the Kansas City rental market, especially the rougher areas?

@Rayan Faris  

 There are a lot of investors on here in Kansas City, so hopefully some will chime in soon. 

I've been wondering the same thing about the KC area.  I've tried looking into on Google, but can't find anything specifically addressing whether or not KC is landlord friendly, coddles the tenant or is somewhere in the middle of the road.  

I have not managed anywhere but Kansas City so I don't know how to compare it to other markets very well. If I would guess it is somewhere in the middle, the only thing I know about other markets compared to Kansas City is on the speed of evictions. They can take awhile here, much longer than a market like Dallas,  but its not so hard you can't manage it, nothing like New Jersey.

As far as quality of residents, it all depends on location, how well you screen and how well you manage.

I have gotten a couple turnkeys this year in KC, no problems so far, decent areas, my turnkey company got me good renters. Fingers crossed! 

I live in LA and was reluctant to make a purchase in Kansas City but over a year later I couldn't be happier.  I bought a sfr 3+2 for $63,000 and it rents for $850.   I bought it as a buy and hold and for cash flow...if it appreciates, great...if not, that's ok.  I have a few properties in LA that I'm counting on for appreciation, as they cash flow for crap...The property mgmt. company I use is in KC is CJ Properties http://cjproperties.org/ they treat me very well even though they only make $51 a month from me!! lol (I'm hoping to buy more in KC so they'll make more money later as well).  I found the property by exchanging info with Bigger Pockets member Mike D'Arrigo www.investwithpinnacle.com -   I may have paid a little more than if I had found, rehabed and found a new tenant but all of that work was taken care of for me through Mike.  At the end of the day I believe we both benefited from the transaction

@Roman Gwin  

Where is the location of your property? I got one 4 bedroom, 2 bath at Manchester Ave Kansas City, MO 64134 that rents for $1000.00. Wondering if I paid too much for it?

Thanks

@Rayan Faris  Kansas City is very landlord friendly. Arkansas and Indiana are rated the 2 most landlord friendly states but MO isn't far behind.

@Roman Gwin  Thanks for the kind words. I'm glad it's working out so well. BTW, Kansas City is ranked 4th in the nation of highest rent increases in the last year at 8.5%. I'm not sure it's that high but it's over 5% for sure.

I like KC for investing, have a good contact there who has done very well. I am not in that market righ tnow. 

I'm in Kansas City, so I'll chime in and try to answer a few things...

In my opinion Kansas City (Missouri) is landlord friendly in the sense Missouri is a relatively quick eviction and non-judicial (faster) foreclosure state. 

In my opinion Kansas City (Kansas) can also be landlord friendly as an eviction is relatively quick too, but foreclosures are judicial and take a lot longer.

A lot of the timing on evictions is determined by not letting the tenant get behind months in the first place. 

Kansas City is a huge metro area so you want to make sure you know first which side of the State Line you're referring to and then go from there :)

@Rayan Faris  the rough areas are rough :)  Same types of issues any investor deals with in rough areas in any city. Cheap properties but they come with their own problems.

@Phillip Syrios  I usually have an eviction done in about 6 weeks or less does it take you longer than that on average? Just looking to compare because I don't think that is a long time in the grand scheme of things.

@Chris Hair  I think all courts "cuddle the tenant" and hold the landlord to the higher accountability so I don't think it's just related to an area. 

@Account Closed  good luck to all of you with your endeavors in Kansas City. If you ever have any questions I'm happy to assist any time.

Personally I own a lot of rentals in the Greater Kansas City area and I love it for long term investing and consistent returns.  

@Account Closed  

6 weeks sounds about right from my experience, if something goes wrong it can take a bit longer. Its not a long time in the scheme of things but not receiving rent that whole time can get expensive fast.

I only say it seems long relative to other markets I've worked in. Kansas is closer to 3 or 4 weeks and Oregon more like 2-3 as well as Texas. I have heard of other states taking a lot longer but don't have any experience in those markets.

Can anyone tell me the eviction process?

Time from start to finish and cost?

Can you do the eviction yourself or do you need a lawyer? 

@Dave Fontana it takes about 6 weeks for the eviction process in the Greater Kansas City area and that would be uncontested. 

I would expect to spend around $300-$350

I don't do the evictions myself, I use an attorney. I am sure some investors will do the eviction themselves. For my time and the sake of doing it correctly I go with an attorney, plus we recover those costs in judgments if it comes to that.

@Account Closed ","user_avatar":{"medium":{"url":"https://biggerpockets.s3.amazonaws.com/assets/avatar/no_avatar.svg"}}}" href="/users/jjpawlowski">@Account Closed  

what is your assessment of Manchester Ave Kansas City, MO 64134 area? what neighborhood classification would assign this area and what would you pay for a 4/2 two garage SFR, fully rehabbed with new roof, new HVAC, kitchen?..just probing :)

Thanks

Thanks a neighborhood called Ruskin, we have a few rentals there but we don't buy there anymore. Its a pretty rough area and most people really don't like it. I personally would not get involved in a full rehab in that area, I wouldn't think I could get my money back out.

There are definitely some investors there but we have moved out of the market for the most part.

Ditto the comments about Ruskin.  Its an area that we strongly avoid.  Tough to succeed in that market area without being extremely hands on.  

Finding good paper returns might be just that....paper returns.  Getting a tough area to actually hit projections is often a challenge.

@William Robison @Phillip Syrios @Account Closed

sorry this is a little off topic but what do u guys know about buy and holds in eastern Jackson county? whats the market like as far as being able to get good deals on the houses and what the renter market is like? specifically Independence, blue springs, raytown and lees summit?

Originally posted by NA Onyido:

@Account Closed ","user_avatar":{"medium":{"url":"https://biggerpockets.s3.amazonaws.com/assets/avatar/no_avatar.svg"}}}" href="/users/pickettj1970">@Account Closed  

what is your assessment of Manchester Ave Kansas City, MO 64134 area? what neighborhood classification would assign this area and what would you pay for a 4/2 two garage SFR, fully rehabbed with new roof, new HVAC, kitchen?..just probing :)

Thanks

 Manchester Avenue runs through some areas that I think are solid enough for the money, like around the Bannister intersection.  Give the address to the property or the closest intersection for a better response.

Originally posted by @Rayan Faris :

How landlord friendly is Missouri?

How is the Kansas City rental market, especially the rougher areas?

MO is a pretty landlord friendly state. You can generally get an eviction done in about 4 weeks if you have to. How are the rough areas? Well, they're rough. Stay away from them unless you can locally manage them yourself. Kansas City is a great cash flow market but you have to be in the right areas. As an out of state investor, I would strongly suggest buying outside of the 435 loop in the suburbs and stay away from cheap, inner city stuff. It might look good on paper, but it rarely pans out. I know the Kansas City market well, Feel free to reach out if you'd like more info.

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