South St Louis realtor help for out of state investor / LL

[Cynthia Dasho]

Hi BP community,

Wanted to get your input for the St. Louis area. I’m a completely new to the thought of RE investing but have wanted to do RE in some way for almost 15 years now (and finally have the cash to really make it a reality),

My father decided to retire in Maryland Heights and is renting. He'd like to stay for a year at least to sort out his health now that he's on Medicare. (All of his kids are in CA or FL). I am thinking of purchasing a SFR for sub $200k. I have yet to run all the hard numbers but if I were to look in south St. Louis , does that sound feasible with the hot market? Is the market crazy hot?

Looking for a turnkey property with some charm and cash flow.

I figure during the year my father lives there I can get my feet wet in this business.  Thank you! 

[David Ounanian]

Hi @Cynthia Dasho yes! The median home price in St. Louis is around $200k so you can find plenty of good cash flowing properties under $200k.