All Forum Posts by: Chet Hileman

I've got a Shelter agent that I refer my clients to here in STL. His name is Bill Newhouse, i would defer to him on this. You can give him a call and tell him you spoke with me, just let me know if you would like that. Thanks!

I'm a lender in STL, happy to share any resources with you guys. 

Hey Guys, I'll chime in quickly. If you're buying in STL and buying a city property you need to go with Shelter Insurance. You don't want full replacement cost in most cases. If your 100 year old solid brick home falls to the ground you would never rebuild with the same materials so the replacement cost will be a fraction building with stick and frame so that's really what you want to insure for. Shelter has by far and away the best policies for STL investors. 

Good question! This would be considered residential and we'd only consider it a 4-unit, so typical conventional lending guidelines would apply. 

  Hi,

    I live in South City, and work and play here. I'm happy to help. I like Mogul Realty Group for property management and as the Real Estate team to find property in this area. Let me know if I can help with anything.

You can avoid the reserve issue if you find a buyer who is using Freddie guidelines and putting down 10% or more. You then obtain a "limited review" and avoid the reserve question all together.