All Forum Posts by: Brandon Heimsoth

I'm looking for multi-families in the St. Louis area and still haven't found my first deal yet. I'm wondering--what is the minimum cash on cash return you look for. In my analysis, I'm assuming a 30 year loan with 25% down, 10% for vacancy, 10% for property management, 10% for repairs, and 5% capex (+ water/sewer, garbage, lawn care, and insurance). I was initially shooting for 10% but maybe that is unrealistic. I've seen a few at 7-8% but a lot are even negative. I'm looking in C neighborhoods.

I'm still looking for my first property. I've seen several two-family and four-family properties with shotgun 1br. What is everyone's thoughts on the shotgun style? Are they harder to rent out (higher vacancy). Is the going rent usually lower than a normal 1 Br? Or both?

I'm just now hoping to make my first investment. But, I'd like to get an LLC setup. I can't remember where I read or heard this but someone recommended setting up an LLC where your rental properties are located. Can someone tell/remind me why this is beneficial?

@Wes Young

I'm right there with you.  I've been listening/watching Leo Laporte since the days of Tech TV.  I caught Clayton Morris on there a couple weeks back and have been hooked on his podcast ever since.  I have a phone call tomorrow with Morris Invest.  As much as I love programming, I'd love to be my own boss someday.

Ok, I've decided to take the plunge into real estate investing. It's a little scary but also a little exciting. I've decided to stay simple for now and start with turn key properties. Maybe later, I'll be able to quit my day job and do more of the work:) I'm in the St. Louis (MO) area and was wondering if anyone could refer me to some that specialize in turn keys. I'm thinking that may work better than just googling and picking the first one I see. Also, I'd like some referrals for CPAs that specialize in real estate investing. Up until this point, I've done my wife and I's taxes but they've been pretty simple. But, I've began to learn that there's a lot more to it than W2s. I'll need some walking through as to how to setup my finances (accounts, loans, etc) and possibly set up an LLC. Thanks for any info/referral/words of wisdom you can give.