All Forum Posts by: Bill Florence

@David FaulknerWell said ! Seen a couple cycles here. Personally I like to specialize on only one phase of the REI life cycle and locally this is no longer it. So I have moved to other markets. However if history repeats, I'll be back.

I am starting a portfolio in St Louis and have been evaluating turnkey deals in multiples states.  Feel free to send me a message I will be glad to share what I can.

Looking to connect with licensed agent who specializes in areas SW of St. Louis MO 

I am not a new investor but evaluating a few TK's for remote investing. I quickly realized how important it is to scrutinize every property, the property management company, and the selling business. So far about 18 of 20 properties presented to me are class-D properties that were purchased for pennies, given a little lipstick rehab, a questionable tenant put in place and marked up 2-500% and priced way over fair market in some cases. Not to mention all the due diligence that goes into researching the TK business, the property management company, finding a licensed inspector, contracts, leases, etc, etc. For me it has been much more work than investing locally, but I see some potential.

I personally feel a business plan is step #1

Suggestions: Consider having a written business plan to include the minimum acceptable numbers you will accept for all types of RE investing you are considering. Think about having at least 3 different profitable exits in order of preference (eg. fixnflip, cash flow, wholesale). Stick to said plan.

I personally feel my business plan has been the key to my success.

Hey Kurtis

Those numbers meet my buy and hold criteria on paper. However a few questions come to mind. When you sell in the future, what are the odds you could give back years of cash flow due to falling property values ? When you sell, will your buyer pool be limited to investors in that neighborhood ? If it is a Class C or D area then you could also have a bumpy ride in the meantime. What is the school district rated ?

Personally I would spend a small advertising budget on bandits. 1 bandit could get 100's or even maybe 10,000 views (before it gets removed or vandalized). However 1 postcard = 1 view. Just my opinion

Hi @Camron Cottam

Any risk/reward investing venture in a free market will have winners and losers, doesn't matter what you are investing in. Sounds like you spoke to people who had bad experiences - so ask those folks why they have a bad opinion - what went wrong? - and learn from that.

Have you tried dehumidifiers ? I have used portable stand alone units (per room or level basis) and I think you can get whole house units as part of HVAC systems