All Forum Posts by: Sofia Sharkey

@Roger Poindexter get the biggest bed the room can have. Cleaners will prefer all sheets to be the same color - I do whites for all of my rentals but this depends on the owner and the cleaner.

I haven't heard great things about Evolve. It really makes all the difference when you find high quality and honest management. 

@Rafael Ramon It’s fantastic for real estate. Kansas City is growing fast so demand keeps increasing yet it’s still affordable; and since it’s not a vacation rental market, we don’t see as much competition, especially now during Covid.

The active booking season ranges from March through October / November. I have been posting a monthly market update with specific numbers so feel free to check it out here:

https://www.biggerpockets.com/topics/892134

The pandemic has impacted tourism and work travel which tends to be strong in KC. Despite all the obstacles of 2020, all the properties were cash flowing nicely and we’re excited to see better numbers in 2021.

@Jay Hinrichs it has been a fantastic market despite the pandemic and all the obstacles of 2020. I’d love to help if you’re interested in investing in KC.

@Rafael Ramon congratulations, the wall paper is gorgeous! Sounds like you’re doing it right. We manage STRs in Kansas City and have a few investor clients from San Diego :).

@Sam Johnson hi Sam, I am well versed in STRs compliance and regulations in KCMO as I have submitted many applications for my places - not a lawyer but reach out if you think I can help. Happy new year.

@Cindy Craft first do a market analysis. Really figure out how much you can rent for and what your revenue would be. Once you are confident in your numbers, then you can compare vs your LTR. Make sure to include: expendable supplies, furnishings, a budget towards linens, electronics, utilities, maintenance, str insurance.

Then, figure out what platforms are the strongest in your area for the audience you’re looking to attract. Is it VRBO, furnish finder, Airbnb, or all direct bookings with HR agencies?.

Look into the regulations for your city and house, get permits and licenses as needed.

Once you can see the full picture you will know if you want to keep it long term or go for the extra cash flow. STRs are more work than LTRs but if you enjoy it then it’s worth it.

Good luck!

@Tony T. Event space, art gallery, or a fantastic restaurant with shops inside. For parking, is there no parking on the surrounding neighborhood?

@Sofia Sharkey they *live* in different states.

@Sonya Wachacha one of my first STRs was in partnership with another 3 investors. They put in most of the capital and I put a smaller amount. We created an llc for that property where the %s are stipulated and I do the management since that’s my area of expertise. One of my best investments and looking to do more partnerships this upcoming year. It’s a powerful strategy I definitely recommend. I’ll add that I’ve never meet the other 3 members in person and they don’t live in different states. Totally doable, Good luck!