All Forum Posts by: Astrid Dymond

I just had a prospective tenant tell me that he would want to pre-pay the yearly rental fee in cash upfront because "that is just the way he does business."  My gut tells me that this is a red flag.  I would still screen this applicant.  Is it ok to accept the yearly rent upfront in cash? What are the potential pitfalls?

Hi Kristin, 

I started pursuing the BRRR strategy in St. Louis last year, so far so good. One of the big challenges I had was putting good teams in place - finding the right contractors takes time (and in my case plenty of 'tuition' paid along the way). I think it is best you start by investing in your "backyard" in an area close to your home so you can closely monitor project progress while learning the ropes.

Hi Jason, hi Megan & Max, I would love to hear more about your StL real estate investment experiences.  I have been here for just over a year now and am trying a number of different things (holding both SFHs and MFHs for rental and trying a flip). Peter's Meetup meets next Tuesday evening, perhaps we can all get together in that forum to exchange info. 

Congratulations Andrew, sounds like you bought in a good location.  I hope you find a reputable contractor to handle your renovations.  Let me know if you need "boots on the ground" to give you independent feedback on project progress. 

I am interested in meeting up - let me know time and place please, would love to meet other Bigger Pockets members in St. Louis. 

Hi Mike - have you considered using used appliances?  StL seems to have quite a few good used appliance stores and you could put the savings towards new cabinets. Perhaps check out Hoods on Natural Bridge for cabinets and countertops and Airport Appliances (pretty much next door to Hoods) and see what your options are. 

Thanks Deanna, I appreciate the feedback that no business can be run out of it.  I drafted the lease to specify that. I suppose I can install a sub-meter to determine the electric used by the garage tenant.  The garage is connected to an apartment, so definitely the apartment tenant has to be reimbursed for garage electric usage. Trying to figure out how to elegantly do this since I do not want to have the space go to waste...

Hello, I have a duplex with a huge, detached garage which I want to rent out separately since my tenants do not want to use it. 

Does anyone have experience on sub metering electric services? The garage tenant should pay for their electric service separately. Do you vet a garage tenant in the same manner as an apartment tenant? 

Hi Derek, Ben's approach is what you are looking for - a contractor who will give you an idea of what the house needs and what it will cost.  Inspectors use a slightly different angle and in my experience will not give repair cost estimate.  Good luck!

Thanks Clint - I am still shopping and will call your bank now!