All Forum Posts by: David Ounanian

Hello @Todd Pieper!  You can always ask for a discount on properties so don't be afraid to.  Now whether or not you'll get a discount depends on the exact situation the seller is in.  If it's just been listed chances are they aren't coming down from list price.  If there are multiple offers chances are it's going to sell for over list price.  If its been on the market a few weeks/months or more chances they will be willing to come down but a lot of times it's within 10% of the list price otherwise they would have dropped the price by now. 

I used MLS data to determine appreciation rates across different areas in St Louis. It can be pretty eye opening. I've been a life long St Louis resident and the areas that I thought were the best for appreciation actually weren't when I started looking at the numbers! If you don't have an agent that knows how to compile the data from the MLS you can find some of this data yourself on Redfin.

Congratulations @Paul R.!!!  Well deserved and excited to see how it turns out!  I appreciate the kind recommendation!

Hi @Cynthia Dasho yes! The median home price in St. Louis is around $200k so you can find plenty of good cash flowing properties under $200k.

Hi @Nieves Soto if using conventional financing I think the lender will want you to owner occupy the property within 60 days of closing.  My thoughts are you could ask the seller if they think one of the tenants would be open to a buyout to terminate their lease early within this 60 day period from closing.  Then you would want to put it in writing in the sales contract as well as get an updated lease to provide to your lender.  Anyone have any other ideas?

@Jason Rhodewalt I have gotten a lot of requests from clients over the years so I created a spreadsheet that does exactly what you’re asking. Send me a connection and I’d be happy to send it to you.

@Allan Kuaana I have worked with a majority of the property managers here in St. Louis.  Happy to connect you with a strong referral.  I'd hesitate listing them here in stone because we are constantly updating our recommendations based on current performance and my client's feedback.

Congratulations @Malcolm Grundy!  Way to go man we are really excited for you!

Great lesson for others is to always get a sewer camera inspection.  It can be a costly repair that can't be seen without it.  In this case we are hopeful that we will be able to negotiate a closing cost credit to accommodate for the repair needed.

Hey everyone our St. Louis meetup is tonight!  Register at the link below and I will see you all on Zoom at 5:30pm!

https://www.biggerpockets.com/...

Reminder about our virtual investor meetup this Wednesday 3/3/21 at 5:30pm!  If you want to connect with like minded investors in the St. Louis or St. Charles area this is the spot!  RSVP today before we fill up!