All Forum Posts by: Alex Flaugher

I am familiar with this area as I have one rental property about 25 miles away. This is a C or D class area of STL and not the most desirable. If you found great tenants you could make it work though! Only other note is that a lot of these buildings are very old (100 yrs +) and sometime require additional maintenance costs. Feel free to shoot me a DM if you have any other questions about STL

Hey all,
This was a property that I recently submitted an offer on and did not get. I wanted to receive some feedback to see if there was anything I missed. Thanks!

https://www.biggerpockets.com/calculators/shared/783367/3dcf8e54-4db2-4a08-82fc-2071d6eac53a

I have a rental property in my area that does not have a basement. It has a crawl space that is about 3 feet high. The previous owner had some water issues that they fixed. I have not had any issues since. I would advise that when getting an inspection they carefully check out the crawlspace.

I am looking for a spreadsheet or calculator where I can analyze the performance of my rental property over the previous year. I really enjoy using the rental property calculator but I believe the primary use for that is projecting future performance. If anyone has any tips or can point me in the right direction that would be greatly appreciated!

Hey Zach,

Gori Property Management and Meyer Properties are the 2 biggest management companies in Edwardsville area. I haven't personally worked with either before but I know they have good reputations. Do you have properties in this area?

Awesome! Thank you @Thais Marineli

Hey All,

I am in the process of looking for my next real estate property. I have been drafting examples a direct mail letter to target small multi-family homes in my area. I would love to hear/see some examples of other letters that have worked well for you all. I will be hand-writing these letters as I see those have a better connection to property owners.

Any recommendations would be greatly appreciated! 

I am wanting to bring on investors for the first time in a multifamily property. Here is what I am thinking:

$1,000,000 cost and putting $200,000 down. If I bring on 5 investors to fund the deal, how should I structure the deal for them? 

I have read many different stories of offering a preferred return, waterfall return, etc. What has worked best for you in terms of structuring these types of deals with outside money? I want to make sure I structure this in a way that all parties can benefit from the deal. This is new to me and open to any recommendations on routes to take.

Thanks,

Alex 

I am getting ready to close on my first rental property. I have been trying to get things organized and prepared before the closing date.

 I am looking for a simple way to track all expense for the rental property. I have browsed through a few of the spreadsheets in the FilePlace section but nothing has caught my eye. If anyone has any recommendations or templates for tracking expenses please let me know.

Thanks for the input!

Thanks for the feedback! I was using the Bigger Pockets calculator and changing the property taxes turned it from a desirable property to a undesirable property.