All Forum Posts by: Gunnar Teltow

Getting some pressure from employer to divest these units. Cutting price to:

$139,000

That's for all four units. 2% rule ;)

If interested, please PM/email me and I'll give you access the data room with rent rolls and other info. Thanks.

Two duplexes (4 units total) on nice single-family residential street. Convenient parking up front. All units rehabbed in 2016. Tenants are current on their rent payments. Excellent local property management in place. These are 2/1s but have partially finished walk-out basements, which the tenants like very much. There's also a bus line out front, another strong selling point for current and future tenants. The units back to a park.

Please do not disturb the tenants. Tour/inspection available when contract is in place. Happy to share additional pictures and financials. No seller financing but willing to work with Buyer's lender. Will pay commission to Buyer's agent, if any. Thank you for your interest!

The other one looks pretty much the same!

I once had a few properties managed by Bob Dees. This local TV video pretty much summarizes my experience:

http://www.kmov.com/story/32742794/news-4-investig...

@Jay Hinrichs LOL I didn't even check who the OP was. Would have saved me the time to write that comment ;-)

Second that. Eaton manages several units for me in C areas and they have done a good job with them. If you don't already own units in C areas, I'd recommend looking into more B areas. This is based on a few years of experience with several dozen C units in North County.

Florissant is great for renting, it's the bread-and-butter of our St. Louis portfolio. Flips work there also, particularly in 63034, which is the higher price point area in Florissant.

I don't do much flipping but am in the middle of two, one in South City (Blow St.) the other in Maryland Heights (Redcoat). Maryland Heights is tough with the inspections, make sure you have permits for EVERYTHING. And yes, they will know that you changed the panel, even if you remembered to scuff up the new one a bit.

Personally, I'd rather shoot for making $15-20k on a few small flips rather than trying to successfully flip a half-million dollar house in Chesterfield. Others who have more experience would probably prefer the latter, which makes sense once you're good at it.

@Tim Walsh - Thanks! I wish they were mine but they're owned by a fund that I work for. Personally, I only have two duplexes in Normandy and one SFR each in Florissant and Riverview.

Net of all expenses (tax, insurance, property management, repairs & maintenance, vacancy/delinquency). Unlevered meaning no debt, equity only. Levered returns in the mid-teens but that number will be different for each investor based on what debt terms they have access to.

450 units bought over the last 12 months or so, most of them on the West side of North County (Florissant).

10.5% net unlevered across about 450 units, most of them in North County. We buy as low as 8.5% for AA assets, and it goes as high as 15%. Anything above that you probably have to compromise too much in terms of the area, or you're able to get a great one-off deal here or there. The above numbers are realistic for a fund that needs to buy consistently and can't wait to take only the fat pitches. Hope that helps!

@Alex Tillman yes we are. Currently we're up to about 400, a lot of them in Florissant but other areas as well. PM me and I'll connect you with our local acquisitions guy. Thank you.