Real Estate Agent · Kansas City, MO · Member since 2018 · 262 posts · 250 votes
Hello, I am moving to Kansas City in a few months and am starting my real estate investing career with a 3 bedroom SFH house hack. I put an offer on a home in the Blue hills/North Fork area. I am sitting on the offer while I continue to look for homes.
The home I offered on I would like to hold for the long term and Air BNB. The home is 10 mins from the plaza, 15 mins from Power & Light district, 15 mins from Arrowhead Stadium, and 10 mins from Brookside/Waldo area. I am wondering if anyone has experience with Air BNB in this area.
Also, those that are more familiar with the area, do you see homes appreciating like the overall KC market is supposed to?
@Steven May A couple of things come to my mind that you might want to consisder.'
1. It's great that you already have room mates lined up but what happens when they move out? I agree with @Zac Lester that you might have a tough time getting qualified tenants. Some of the area around The Paseo are improving but it's still a little rough. What it has going for it is that it is close to the University and can draw students if that's the kind of renter you are looking for.
2. I don't have experience with AirBnB but I don't see this as the kind of area that will attract short term rentals, at least not the kind of short term renter you want.
3. I'm also not sure that it's proximity to The Plaza, Power & Light District etc is going to be a draw. People who want to be near entertainment centers and nightlife are generally young, hipster type millennials. I'm not sure this area will draw that type.
Give a lot of thought to the longer run when your room mates move out and you have to replace them.
I have a few questions. 1) When you say house hack a SFH does that mean you'll be getting roommates? 2) Have you driven through this area before? There are some decent spots near UMKC and Rockhurst but in my opinion you might have some trouble finding quality tenants in the areas you mentioned. Also, just FYI - that part of town is not considered North Kansas City like your title seems to indicate.
I have a few questions. 1) When you say house hack a SFH does that mean you'll be getting roommates? 2) Have you driven through this area before? There are some decent spots near UMKC and Rockhurst but in my opinion you might have some trouble finding quality tenants in the areas you mentioned. Also, just FYI - that part of town is not considered North Kansas City like your title seems to indicate.
Zac,
Thanks for reaching out. Yes, I have two roommates lined up already and their rent will cover my mortgage. It is down the road from Rockhurst, right off the side of Highway 70. The house is a newer house, 2008, yet the neighborhood it is near are about half the market value of this specific home. The area is descent, not my top choice though but the location with close proximity to multiple KC attractions makes me desire it. In regards to the tenant issue, that is why I was thinking the Air BNB route and actively managing it. I am very new to KC, so what would this area be considered? Let me know thoughts. Thanks again.
Hey Steven. I've got a duplex around 49th & Woodland & it does pretty well. Not my best, but the proximity to the Plaza & highways does help. My PM did have a hard time renting 1 side in the fall, so not sure if that's the area or the PM or both. 3 bed, 1.5 bath in decent shape at 775/795 a month per side. I'd bet long term, this area has good potential for appreciation, but we'll see.
I have a few questions. 1) When you say house hack a SFH does that mean you'll be getting roommates? 2) Have you driven through this area before? There are some decent spots near UMKC and Rockhurst but in my opinion you might have some trouble finding quality tenants in the areas you mentioned. Also, just FYI - that part of town is not considered North Kansas City like your title seems to indicate.
Zac,
Thanks for reaching out. Yes, I have two roommates lined up already and their rent will cover my mortgage. It is down the road from Rockhurst, right off the side of Highway 70. The house is a newer house, 2008, yet the neighborhood it is near are about half the market value of this specific home. The area is descent, not my top choice though but the location with close proximity to multiple KC attractions makes me desire it. In regards to the tenant issue, that is why I was thinking the Air BNB route and actively managing it. I am very new to KC, so what would this area be considered? Let me know thoughts. Thanks again.
That's great you already have roommates lined up! I'm sure you've checked other airbnbs in the area by your prospective house right? If not, I would check that out and make sure they are getting booked (they'll have grayed out dates on the calendars). As far as I know this area doesn't exactly have a name like Westport, Crossroads, Waldo, etc. I would just call it north east of Brookside and east of Rockhurst.
@Steven May I would call Jeramy at Second Door. He manages all of my AirBnB's and is a great resource. I am not familiar with the area you are speaking about, I live in Brookside. However; you need to be careful about the STR municipality rules and regs here in KC. Happy to help in any way I can.
@Steven May I would call Jeramy at Second Door. He manages all of my AirBnB's and is a great resource. I am not familiar with the area you are speaking about, I live in Brookside. However; you need to be careful about the STR municipality rules and regs here in KC. Happy to help in any way I can.
Logan, do you have a resource on the STR rules and regulations in KC? Or is it best to get ahold of Jeramy at Second Door?
For STR be sure that you can actually turn the property into an AIRBNB it has to be zoned in a certain way and you will need to get approval from the adjacent neighbors and then get approval from the city.
To have it as a house to live in and have roommates you should be fine.
For me personally, to hold rentals in that area, near UMKC and Rockhurst - I would want to be on the east side of the Paseo
I know the area has improved somewhat from when I was investing in that area. And quite a bit since family members attended Rockhurst. But the family car that the kids going to Rockhurst drove had no windows or a radio after it was broken into several times and fixed, they just stopped fixing.
I would check out crime stats for the area, go drive around a bit - While its only 15 minutes from those places.
@Steven May A couple of things come to my mind that you might want to consisder.'
1. It's great that you already have room mates lined up but what happens when they move out? I agree with @Zac Lester that you might have a tough time getting qualified tenants. Some of the area around The Paseo are improving but it's still a little rough. What it has going for it is that it is close to the University and can draw students if that's the kind of renter you are looking for.
2. I don't have experience with AirBnB but I don't see this as the kind of area that will attract short term rentals, at least not the kind of short term renter you want.
3. I'm also not sure that it's proximity to The Plaza, Power & Light District etc is going to be a draw. People who want to be near entertainment centers and nightlife are generally young, hipster type millennials. I'm not sure this area will draw that type.
Give a lot of thought to the longer run when your room mates move out and you have to replace them.