Looking for first Rental Property

[Jamie Carter]

Hello all! I'm looking for my first rental property in the St Louis region! I'd prefer to buy duplexes in South City or Shaw, but am also looking into single properties in U. CIty, South City, and perhaps Lafayette Square. I've been reading about what I need to know, but I think I need to just do it to experience what it's actually like! I also want to spend no more than $100k

Any advice for this newbie would be greatly appreciated!

Thanks BP

[Mackal Smith]

Hi Jamie, that's the exact market I'm in. I buy small multi-families in South City (mainly around the Dutchtown area). I have picked up some nice little properties over the past year all positively cash flowing and all (except 1) under $100K. Go take a look at them in the portfolio section of my website .

My advice: The market here has been getting tighter. You have to move faster to get a deal, but they are still there. Work your numbers, don't forget to put back money for CAPEX stuff. Be prepared to move quickly when you see a good deal. Make sure your financing is in place and you are ready to go. Don't be afraid to ask questions and reach out to others.

If you find something you like and just want a second set of eyes, I would be glad to take a look and tell you what I think.

- mac