All Forum Posts by: Chandler C.

@Brent Matthews a simple google search pulled up this previous BP post. Not good to say the least...

@Carl Flint well said. I can't agree more! 

Hi @Jason Rhodewalt! There's a good amount of data available online. It may take some research and mental equity, but it's worth it. It just all depends on your criteria of a A & B class neighborhoods. Typically, that means low crime, great schools, access to parks, plenty of dining/shopping options. 

Or connecting with other's in the market (boots on the ground types) and gain a sense of clarity. 

Hi @Marcos Walters! Like others have said in this thread, you're doing exactly what you need to! Being active on BP is a great tool to connecting with investors, agents, lenders, etc. Once you start getting those connections, the best thing to do is to keep them growing through conversations (DMs, phone call, text). The STL community is a small, but growing group; people love to chat about their passions and goals! 

Hi @Nathan James Smithee. It's great to see you getting into real estate after listening to the BP podcast. I was in your exact position about a year ago, and decided to take the leap into real estate investing. I'd be glad to connect with you! The St Louis market is an awesome community, especially on BP. A lot of opportunities to meet other investors. 

Hi @Darrell B. it's tough to evaluate your deal based on your description, especially in St Louis where property values vary block to block. But my main thought is South City tends to be more cash flow than appreciation, so that should be your main goal if you decide to invest in that part of town. In my opinion, 7% cash on cash seems low. And that's with all your assumptions hitting. A bad tenant situation or a large capital expenditure can destroy your coc. 

There tends to be more opportunities in South City. Because of that, you can grab a SFH or MFH and expect good cash flow. I would keep looking, or see if the Seller would be willing to drop his/her price.

Feel free to message me to discuss in more detail! 

Definitely sounds like a pretty crappy situation. The disclosure statement wasn't accurate and the seller had prior knowledge of an issue, so you may have standing as your agreement was violated. And I also agree with @Peter Kozlowski. Best to consult with a lawyer. 

@Kent Meentemeyer did you figure out a solution? I haven't run across this situation yet, but I'm interesting in hearing an update if you have one.  

Hey @Jerell DeCaille congrats on your duplex! It's awesome to get that first deal under your belt, especially a house hack. 

I am an out of state real estate investor in the St Louis market. Feel free to message me if you'd like to chat! 

@Alex Babayev ah that makes perfect sense! Thanks for the information. I am approaching my next deal through the BRRRR method, and have been researching exit strategies.

One risk I am trying to avoid (as much as possible) is having capital tied up in a investment for too long, and the method you described mitigates that risk! 

@Alex Babayev sounds like a very successful BRRRR deal! How were you able to cash out refi in under 6 months?

For a Freddie Mac cash out refi, I know the borrower must have been on title to the subject property for at least 6 months, hence the typical 6 month seasoning period.