All Forum Posts by: Adam Rothweiler

Bryson Pennock I'd be interested to hear about your St. Louis properties. I'm looking for Multifamily in the area! We have a great market here, you're smart to put focus into it!

Hi and welcome to BP! I'm a new investor living about 40 minutes south of St. Louis, trying to get myself my first deal. Would love to talk about this property. Do you reply to text messaging? 

Ahhhh ok. I haven't looked into the county too heavily. Lots of my focus has been south city but I'll keep an ear to the ground for any deals I may be able To send your way! Hope things are going well for you, maybe we'll connect in the future!

Hi Rebecca! Are you in the market for mixed use properties? I've had my eye on one in south st Louis city in the 63111 zip code that could use work but looks great. Contact me if I can help in any way! :)

@Matt Motil I've been on CL daily looking at ANY mfr listings and talking to whoever I can get in touch with.  I've had good conversations with property managers and agents for investment companies who are doing transactions on properties of their own and for the properties they manage. I simply tell them who I am, what I'm looking for and in what area.  I give them my email and hope they contact me with something that comes across their desk.  

@Chris Soignier In St. Louis, our market is bonkers. Inventory is low on the MLS but there are TONS of dilapidated properties from the last x-amount of decades of population decreases. It's just simply a matter of finding who's got control of them and the status of each. I did attend a tax lien sale a couple of months ago and liens were selling for 10x their owed value. What I'm getting at is that finding deals for me is difficult and I want to steer clear of bank financing if possible. BRRRR method via owner financing on a multi is my goal.

Ideal Scenario: Owner finances price, I make interest only payments on 30 year amortized, 7 year balloon, refinance it after the market corrects itself from the shift we're headed towards, cash out my note holder and use some extra money to reinvest in another deal through a bank and hopefully a good interest rate. 

A young man can dream, right? Haha. 

Thank you both for your replies. I'll definitely be keeping your advice in mind!

Hi everyone! I was wondering what avenues you've found to find deals with property owners who are more likely to seller finance/own their property free and clear. I'm a new investor and I've been analyzing deals for wholesale, looked into low money down options like FHA, but since I have little capital to get myself started with my first house hack, I believe my best option to be a seller financed multi family. Finding MFR with full equity seems to be a shot in the dark though. I was wondering how you all have found seller financing deals in the past. Do you go to the city and look at property records? Do you call a massive list of property owners and just hope one Of them owns free and clear? I did call a few companies who manage a large number of properties for their owners and asked if they have any clients who are looking to sell through seller financing and was told I'd be emailed should something that was similar to my criteria become available, but I want to be more proactive than that. Any advice helps! Thanks!

Originally posted by @Kris Haskins:

wow,  I thought creative RE is the best way to go for you, just get the right mentor/training to do it the best way that fits you.  I can send u a copy of my sub to contract if you like.  

If you're open to sending a sub2 contract for reference, I'd LOVE to see one! I'm new to REI and am trying to get creative with a manufactured home but I'm worried about the likelihood of refinancing after buying as payment. First deal, trying not to get scared off!

I don't have direct access to the MLS listings, but I have a close friend who is a licensed agent and does have access. For the sake of my own productivity and self reliance, what are some methods you guys have used to find deals outside of the MLS?

Bigger Pockets, the only place where you will get REI and marriage advice through the same medium! Haha. In all seriousness, I'm 22 and have no advice to offer on this matter. I was just entertained by the thread. Good luck to you and your wife and I hope your next move makes the both of you very happy!

Also for the locals, I'm sure you're aware of it but I know that Southside Invest Club is a very key group in our community! If you havent checked it out yet, you definitely should. My current business partner has been attending and gives the highest of praises to it. I'm timid and have yet to go, even knowing how crucial networking really is, but I know how great this club is.  I just need to take the leap!