Beginning RE investor. Tips from the first 2 years!

[Janett Lewis]

I thought I would share a personal conversation I had with someone on Bigger Pockets tonight: The (st. louis) market is sooooo different from San Diego. I do negotiate all my own deals and I feel if you can read a contract you can put a deal together here. The prices are amazing and my better half is a licensed contractor. I’ve purchased several properties and rehabbed them. They are now rented and Cashflow positive! Things to look out for are: occupancy requirements vary from municipality to municipality. Taxes can be a bit tricky. From time to time they jump quite a bit. If your out of area it’s important to work with someone you trust. I haven’t found an honest property management company yet. They will milk you for repairs and take a lot of your profits. Other then that, I think it’s a great area. You can buy in cheap and Cashflow quickly. I couldn’t have purchased all these homes in San Diego for less then 5 million dollars lol. Most important is you have a good contractor who’s honest and will let you know the reality but not price gouge you. Buying at the right price is how you make your money but improving the right way is how you keep it. Last note. Vet the HECK out of your tenants! Tons of luck to you and please let me know if I can help you in anyway!