All Forum Posts by: Jonathan Sher

I live in saint louis, I'd be interested in seeing what area is being called a B area.

If you guys have any specific questions, feel free to send me a message.

I live in St. Louis and own 10 single family rentals. Like Ed said, you have to be selective of the area you invest in. There are plenty of areas that have unaccredited school districts, but on the other hand, there are areas where the school district is still accredited.

The rental market is strong here. I've been buying 3 bed 1 bath houses in accredited school districts and getting anywhere from $800-900 a month with an all in cost in the high 30's

The demand by investors here was increased dramatically. Any house that's in decent shape will have multiple offers on it immediately.

The rental market

Hey Ann,

I'd expect this house completely rehabbed to Fitch about $120,000 if the bathroom up stairs wasn't so small. The median home in st Louis is around $115,000 so this would be a middle market in my mind

Hey BP fans, I wanted to get your opinion on something. I might make an offer on a 2,000 sq ft house that has 4 bedrooms on the second floor with a cramped hallway bathroom upstairs that has a shower, toilet and vanity (no tub). The house also has a large bathroom downstairs that has a bathtub, tiolet and vanity. I was thinking about taking the fourth bedroom that shares a wall with the already large master and make it into a master bathroom and extra closet space, essentially make the house a 3 bed 3 bath with a master suite. What would you do? This is a flip so im looking for the best value creator to a homebuyer.

Would you rather have 4 beds upstairs with a cramped hallway bathroom, or a 3 bed 3 bath with a hallway bathroom and a master suite bath.

I'm leaning towards the 3/3 conversion.

Thanks!

Hey stanley, according to the MLS, the property went Contingent Sale the day after you posted this and it was fairly undervalued even if it had to been gutted.

Thanks Josh!

Well I'm going to hit the pavement running. I'm going to start utilizing my license to acquire more rentals and I'm currently flipping a house that I will list. I also have several people that are friends and family that want me to help them find homes for them.

Hey BP fans, well its been just over 1.5 months since I made this thread and I'm proud to say that today I officially passed all the required tests for my Missouri real estate license, I just need to submit the paperwork and wait for the license to come in the mail!

I'm super excited to start working!

Hey Larry,

Right now my rentals certainly don't put off enough cash for me to be taking any significant payout from them yet. Fortunately I have reserves that I can comfortably live on for some time while I build up not only my rental portfolio but also obtain my RE license and start pursuing deals.

Everyone's financial situation is different. I'll certainly do a little belt tightening since I'm not making a salary anymore, I think you will just "know" when you are able to make the leap.

Thank you everyone for the kind words. It's truly a great feeling when you feel like you are taking your life in the true direction you want to go. I have support from all my close family members so that is also a huge help!