All Forum Posts by: Donald S.

@Justin R. @Jennifer Petrillo thank you for the responses. I'll go check the property and keep an eye out. I think you're right I probably did answer my own question. I should be able to check out the property next week and make a decision on that.

Hey guys, so I'm looking at a property, 4 family, that's been on the market for over a year. raw numbers look good, and its fully rented out. My question is what should I be looking for as to why its been on the market so long? it is in a fairly bad neighborhood, c- type area almost d area. There's no photos except for the front of the place, So maybe structural or foundation issues? anything else I should look out for when doing my due diligence?

following because I'm looking into HML and never heard of this. the HML I'm working with will be funding 100% of the rehab so if I had to come up with the funds first, I wouldn't be able to.

@Mark Elkins thanks for the advice. I grew up here and know the area's pretty well. I'm looking more at the 50-150k housing. Got 1 place I'm looking at today that is 130k rents are~2300/mo, HVC rent would be closer to 3k based on the hud website info. it's a triplex.

@Mark Elkins thanks for the advice. I grew up here and know the area's pretty well. I'm looking more at the 50-150k housing. Got 1 place I'm looking at today that is 130k rents are~2300/mo, HVC rent would be closer to 3k based on the hud website info. it's a triplex.

Originally posted by @Thomas S.:

@John Underwood 

"I would never chose to rent to any of them, not only as a business decision but also as a moral decision. They should be in government housing."

"They should be in government housing"? The closest thing to government housing in the USA is Section 8, and even if there was full blown government housing, it'd still be tax payer funded. So why is there a moral qualm over section 8, but "government housing" is ok? 

Anyway, Once I get my first rentals going I'll be looking at Section 8 in St. Louis. Anyone have experience in south St. Louis city with our housing authority? Feel free to PM me. 

@Joshua Tikal I don't know how to help you then, I live here so I guess I haven't had that problem. I would think just having the registered agent in MO would satisfy that requirement though. If you need a physical address that you actually have to occupy, I don't know what to tell you. 

@Arissa Pedroza if you're talking about wholesaling send me a PM. I'm interested in the S.A. area, always eyed Texas.

If it really comes down to it, an LLC in Missouri cost like 52 bucks to set up. but I'm surprised you haven't found a bank willing to work with you. what area of Missouri are you looking at?

I think that's great. And responsible landlords are a big reason for the improvement as well. Together with the 4 mentioned neighborhoods I think pockets of Bevo and Carondalet have been getting better. But we'll have to wait and see.