All Forum Posts by: Alex Keathley

@Gail Greenberg

Interesting conversation. IMO Small value add BRRRR (light rehabs) in small MF (Under 4 units) or SFHs in C+ or B- neighborhoods would be a good place to start. I bring up SFHs because there are a lot of markets who's small MF is non existent. They have SFHs and 50+ apartment complexes. No in between.

Then once you feel comfortable start moving into the 5-10 unit space. Big fan of smaller MF. I think you can potentially get there in 3-5 years if you play your cards right. I would get your strategy worked out with a good portfolio lender in you area first though. They will be the key to your success IMO. Hope this helps! 👍🏻👍🏻

@Ryan Fenton

Southeast Missouri is a great region to get good Cashflowing properties. Just like everywhere else inventory is extremely low right now, but there are still deals to be made! I’ve heard KC area is a great area to get into as well if your family is from that area.

My primary market is about 60-80 miles south of STL, but I know a lot of investors who have had great success up north. Very landlord friendly state as well. Hope this helps! Good luck! 👍🏻👍🏻

@Cameron Chambers

David Greene's book on BRRRR strategy is a must read imo. Really changes your mindset. After you read that, you will know exactly what it takes to become a BRRRR investor. Hope this helps! 👍🏻🎉

@Stephen Jones

If you get water switched to tenant paid I really like the deal. Make sure to run it by your portfolio lender for refi. Being on the outskirts of Saint Louis can either be a good or bad thing. 5 minutes one way or another could really hurt property value. Since you are already in the area, I assume it’s a good or up and coming neighborhood. So I say go for it. Maybe this guy or gal has a few other properties you could get as well. Glad to see another STL/MO investor in the forums. Good luck! 👍🏻👍🏻

@Whitney Robert Caldwell

Congratulations on your first rental!! That’s awesome!

IMO I would get a qualified tenant in there sooner rather than later. Lowering rent to draw in more interest is upsetting, but sometimes it’s what you got to do. Maybe try it at 1500-1600 and see what you can get. It’s possible that place down the street is just undervalued because they are wanting to fill very quickly. Hope this helps!! 👍🏻👍🏻

@Kyle J.

If you are not buying in an LLC, your spouse must be on the deed in the state of Missouri. Only way around it is a $50 marital waiver your spouse can sign. Title companies can work one up in one business day max. Some out of state investors avoid MO just because of this law. Silly I know, but it's the truth. Lol Hope this clears up the confusion!! 👍🏻👍🏻

@Maria D'Aura

Just have the title company draw up a marital waiver that the spouse who is not wanting to be on deed signs. Your agent is correct, if you are not buying in an LLC in the state of MO, your spouse must be on the deed or must have a marital waiver. It's very common for couples that be fully divorced and one of them wants a new house. The marital waiver is a way around it. The waiver basically states the spouse will have not ownership interest in the property. Costs maybe $50 and your title company should be able to mail or fax it to you. Hope this helps! Welcome to the Show Me State!! 👍🏻👍🏻

@Harman N.

Congratulations on your purchase Harman! 25+ years is typically the max on all appliances. I’m surprised the water heaters are still in good shape. I typically replace them upfront if I am fully renovating the house. Even with that being said if they are serviced and the tech says you have more life in them and in good working order, I don’t see why you should replace them immediately if you plan to renovate in the next year or two. If you have capex reserves and you are saving extra capex each month from your Cashflow, you should be just fine. Interesting strategy! I like it! Good luck Harman! 👍🏻👍🏻

@Joe P.

Couldn’t have said it better myself. Taking out your emotions and focusing on the tasks at hand are imperative to success in this industry. Patience and persistence are key!! Thank you for sharing Joe! 👍🏻👍🏻

@Ivan Maldonado

I would see if a family member would be willing to Refi the car into their name or pay it off for you and you make payments to them. Some parents or grandparents are not keen on co-signing on a Mortgage, but they will Refi a car into their name usually. But ultimately paying off the car is in your best interest before buying a home. I don’t agree with Dave Ramsey completely, but his ideals on debt align with my beliefs. I hope this helps! Good luck Ivan! 👍🏻👍🏻