Questions for investors with rentals in St Ann, MO

[Kevin C.]

Currently have a few rentals in the North Dallas area and am looking to do the long distance landlording thing in St Ann, MO.

Why St Ann?

Wife and I are from MO, been in North TX almost 20 years now. Wife is from St Ann, her mother and sister still live there. She has other family members near St Ann and we have friends in the St Louis area too.

We know the area of St Ann near where Northwest Plaza used to be and would be focusing on the area South of the Rock Road, West of Ashby and East of Lindbergh.

We're working with an investor agent that knows the area, just wondering if anyone has rentals in that area and would share their experiences.

Specifically, things such as DOM you're experiencing when you turn a unit over. From comps I've seen, DOM is all over the map, from a few days to a couple hundred days.

There are a lot of 2/1's in the area, if you have any 2/1's, how have they worked out for you? 3/1's seem to bring maybe an extra $75 to $100 a month, but then garages and/or larger lots don't seem to add much in the way of rent - is that what you're seeing?

We'll be looking at several houses next week and would like to get a feel for what is working for others in that area. We'll be looking at homes listed in the $25K to $50K range in areas where rents are in the $750 to $900 range.

A lot of these homes are distressed and/or REO's.

Any input would be appreciated.

Thanks,

Kevin