All Forum Posts by: Mark Struckhoff

@Matt Conrad  I think it's important to know your risk tolerance as with any investment.  The higher the risk, the higher the potential reward.  There are several advantages/disadvantages in investing MFs vs single families which I'm sure you are aware of.  Only you know, what your risk tolerance level is . Gather as much information as possible, and then only invest when you're 100% comfortable.

The problem with FHA financing is that it brings another party into the contract.....the FHA appraiser/inspector. Any issues found by the inspector, must be remedied or the buyer won't be approved for the loan. Most sellers in my experience don't want this headache.

As @Chris Mason mentioned, conventional is usually the better financing . I would recommend conventional if possible.

A properly worded escalation clause can be a lifesaver.

@Don Powell welcome to BP.  I'm a local agent and would be happy to discuss the various neighborhoods that St Louis offers. Look forward to connecting 

@Brant Hampton  As a local St. Louis real estate agent, I'm very familiar with the Kirkwood suburb.  I don't have to tell you that is a very desirable area to live in and you shouldn't have any problems selling there (assuming it's priced well).

I think where agents earn their commission is after the sale.  Juggling inspections, appraisals, title company issues etc is where the "real" work begins in my opinion.  My experience has been that I usually save my clients money at the end of the day.  One example is when we discovered a broken sewer lateral......estimated cost to repair $15k.  My seller didn't realize her municipality was in the sewer lateral program so it didn't cost her a dime.  A transactional broker wouldn't have informed her of this and she would have been out that money.

@Stephen Taul  a local real estate agent can easily provide you with this information.  Message me the property address and I'd be happy to run a quick report for you. Take care

@Jeffrey Mckeil  I'm a local realtor in the area and can help.  PM me.  Talk to you soon

I did a quick MLS search and found: 51 homes for sale and 6 for lease in Webster Groves. Kirkwood had 76 homes for sale and 2 for lease. Obviously this wouldn't include any FSBOs.

Also, keep in mind Kirkwood is approximately 9 square miles while Webster is only around 6.  This makes sense as to why more homes would be for sale.

IMO, these two areas are very similar.  I do believe that Kirkwood School District is thought of better than Webster.  Again, just my opinion

If you have any more questions or need help in your property search, let me know.  I have my MO real estate license.  Take care. 

My wife and I want to move into a new home in a better school district.  Instead of selling our current home, I was thinking about turning it into our first rental property.  I'm in the process of figuring out what kind of rent we would bring.

The next home we would buy would be modest.  We would live there for maybe 5 years and continue to repeat the process.

Has anyone used this strategy and have any experiences (positive or negative) they can share?

Thanks.

Count me in too.

@Bob Hines 

Thanks for the feedback.  Please message me your friends contact info.  Thanks