All Forum Posts by: Greg Miller

Carrollton Bank, but they only have branches in Missouri and Illinois. 

Awesome to see you get your first deal under your belt!  Hopefully many more to come for you Matt!!!

If my math is correct, you will only receive $71/month/door for cash flow.  This seems way too low for myself.  I would push for ways to cut cost and raise rents (if possible).  The market is hot right now and multi-family units are selling very well.

I grew up outside of Sandusky on a family farm but now live in St. Louis.  

My local bank in St. louis will issue loans in my the name of our LLC. However, you will have to personally guarantee the loan, which is a very standard practice. You will have to present the state certificate, operating agreement, and any other document that the bank requests. It is a paperwork effort on your end to get everything set-up with the bank. Good luck!

If you are going to pay $40k per unit for a two buildings constructed 70 years ago, then I would have a roofing company walk the roofs and a HVAC company review the a/c units, condensing units, and hot water heaters. You need to subdivide the water and utilities, so each tenant pays their own bills. This will greatly increase your net operating income and CAP rate. The initial numbers looks solid. One last thing...get a copy of the January and February rent rolls to verify the income yourself.

I am a local St. Louis investor.  DM me and we can set-up a time to chat to help you get you started.  

Send me a DM and I will send you a great contact. Local bank that will give you 75% ARV with little costs to get it completed.

PM me.

DM me and I will send you a great St. Louis contact.