All Forum Posts by: Afsheen S.

@Peter Kozlowski 

Between Poepping and Davis. Would love to hear ur experience thus far. Let's talk sometime!

@Ken Bohnert

@Zach Stillman

@Peter Kozlowski

I own a rental property in 63111 as well. A 4plex on S Broadway. Cash flows very well when I'm not dealing with issues (i.e. break-ins). Would be great to connect with other investors in the neighborhood! 

I use Shelter insurance. Many other investors here in STL do as well. I'd get quotes from several different providers and go with what's best.

@Dylan Bond    (....and everyone else)

Nice to see an STL thread with so many new investors. I also recently started investing here about 6 months ago. I currently have two 4-plexes in South City. Got lucky and found both off-market. The one I just closed on requires quite a bit of rehab so going through that process for the first time. Good luck with your rehab. Let me know if you ever want to chat. 

Nice! Where is this located?

I was looking forward to meeting you all today but unfortunately just got home from work. Hopefully next month! It's great that you guys usually meet at Pat Connolly as its walking distance from my place!

Above a certain income level ($150k i think), there aren't many options to shelter W2 income from taxes. Passive losses from real estate and elsewhere are "suspended" unless you have REPS (real estate professional status). For some people, maximizing 401k contributions is one of the primary ways to lower their taxable W2 income.

Additionally, an "employer match" is essentially free money. For example, my employer puts $2 in my retirement account for every $1 I contribute (2:1 match up to 10% of income). 

Why would I keep the money in my 401k in the long run? .... Mostly for diversification. I only invest in passively managed low cost index funds. Historically, the S&P 500 long-term inflation-adjusted average return is ~ 7-8%. I wouldn't say that's bad. But I guess you can never predict the future so who knows how the next few decades will play out. 

@Naomasa Hase 

I don't really have a compelling reason to go with a local bank I guess. Based on the quotes I've gotten, I'll probably end up going with one of the WCI recs. Thanks for the advice.

@Account Closed

Thanks for the advice regarding WCI. I do follow that blog and other similar ones. I have reached out to several lenders on their lists...and ur right the offers do vary a lot. I guess the purpose of my question was to see if there were any STL-based institutions that offer the same lending options because I'd rather go with something local if possible. 

I was hoping to get some recommendations. I am a new investor just starting out. I would like to buy a small multifamily in South City in the next few months if a good opportunity arises. I've gotten preapproval through a mortgage broker, but I was wondering if you guys obtain preapproval from multiple sources or is one typically good enough? Also, who would be your top recommendation for a residential mortgage lender? (investment only -- not owner occupied)

Unrelated to the above --- Any recommendations for a portfolio lender specializing specifically in physician loans? This would be for a primary residence (not investment). We are looking into potentially buying a single-family house in STL County within the next year. Since I'll be using my cash reserves for a downpayment on an investment property, I won't really have much left over for myself. I've reached out to a few local banks/credit unions and the only one that has said yes to "physician loans" so far is Peoples National. Still waiting on several replies though.

Any advice would be greatly appreciated...Thanks!