All Forum Posts by: William T.

@Justin Escajeda Have you had much success with marketing these properties because I have considered doing the same thing?

Have you considered financing a Single Family Home because more people will want that over a condo. Without knowing too much about your market, IMO I would want an investment I can market to a single person, a couple, or a family. Pending the number of rooms, you are most likely to only market to a single person or a couple. This is just my 2 cents... Also think about your exit strategy, a condo will be hard to sell possibly depending on when you want to sell it. This is very true for my market. So please review the purchase and the exit stragedy.

Are you buying this property from an agent, wholesaler, or another investor? Here in St. Louis, the wholesaler or the seller because the buyer requests them to pay. I know this is kinda vague but more details is needed to understand your situation.

@Sean D I am not sure if this is what your original post was referring to. I didn't know what bird dogging was until I started on BP. Now that's what I am trying to do when I connect with out of town wholesalers/investors. Feel free to contact me if you would like to partner up.

I have read several articles of becoming a broker's assistant without becoming an agent to access the MLS. How accurate is this information because could help @Doris Logan and myself.

Wow... you are the first person I have seen on BP from St. Louis. How can I help you?

$500 is the average rent in St. Louis depending on the area. North, Mid, and South county will obtain you a nice one bedroom. This will not get you anywhere in West County or Clayton. You could also use Rent o meter if you want to find out the rent in a specific county or street.

I don't have any experience doing rehabs so I would have to visit the house to see if a second bedroom is an option. For most of the houses I have seen from the outside, a second bedroom does look like an option but I will start to investigate.

I am seeing a lot of 1 bed 1 bath houses for sale almost at 50 to 60% ARV. Is it possible to market to rehabbers to turn these into two bedrooms for a nice spread? The property is in a nice neighborhood and it is still up and coming. The average house before the bust was averaging $150 to $350, now most are $50 to $200,000.

@Chris Piper I will have to start using this formula from now on, this is great.