New Investors in St. Louis, MO

[Tim Kappel]

I am hoping to purchase my first property this year.  Still going through all of the learning and calculating numbers.  Are there any brand new investors around the St. Louis, MO area?  It would be nice to connect with people who are on the same journey and just starting out.

[Aaron W.]

@Tim Kappel and @John Whitfield Welcome to the community! St. Louis is a great market. I do not live there but have invested in that area.

Before you begin your journey, you'll want to determine why you want to get into real estate. From there what are your goals in order to accomplish the why? Are you investing for cash flow or appreciation?  Do you need the cash flow now or can it wait? What is your appetite for rehab? 

From there, figure out what criteria to you makes a great deal (cash flow, cash on cash, IRR, etc.)? Start analyzing deals everyday, even you don't plan to buy them yet. Deal analysis is one of the most important skills you need to learn as a real estate investor, even if you work with turnkey or wholesalers to bring you deals. The more you analyze and practice, the better you will get at it and the faster you will be able to analyze.

If you find a great deal, it may help to partner up with someone who is more experienced to guide you through. What you may give up in equity will be invaluable experience that you can take into future deals.

Good luck with the journey!