All Forum Posts by: Hai T.

Hi Melanie, I've just had many investment opportunities elsewhere so still haven't been to U City yet so hopefully someone else can chime in.

I've been investing for quite some time usually buy and hold and some rehabs but have never invested in University City. I've been looking at some houses near 170 and olive. I was wondering if anyone can share some of their experiences with occupancy inspections and inspectors and if they are difficult to deal with. I've heard that they make you pull permits for light fixtures but not sure if it's true or not. What about things such as furnaces, hot water heaters, ac units, electric panels. Do they nitpick everything? How does the city compare to some of the neighboring ones such as overland? Thanks in advance 

Hello BPers, just wondering if any foundation experts have any idea if this crack is a major concern on an exterior brick building that I'm interested in potentially purchasing.  I've never seen one like it on any building that I've bought previously.  I'll be looking at it tomorrow and this is just one of the pictures but just wanted to do some homework beforehand. Thanks in advance!

Agree 100%. Most people are good people, it's always a few bad apples that spoil the bunch.  Even Ferguson has good areas as my father has property over there. 

Yuko, I agree with most of the comments so far. I'm a st louis based buy and hold investor for over 17 years.  If you are willing to take risks, that property could work well for you  BUT that most likely won't happen. Personally, I wouldn't buy in that area.  The tenants in that area tend to be rougher around the edges and you will most likely end up having to evict onee of them a year and when they move out, expect to spend 3-4 k to rehab it on top of losing rent.  

When a deal seems to be too good to be true, most of the time it is. I have a friend who has property in that neck of the woods, but he says after 5pm, he won't go over there to collect rent.  Just hearing that he has to pick up his rent should tell you enough.  

Frank,

Glad things worked out for you, a contract is a contract and sure circumstances happen, but when you get nasty how can you expect anyone to even give give you part of your earnest money back? 

Justin,

Thanks, that's what I was leaning towards.  Hate to do that but I guess the seller has left me no other options.

Thanks for everyone's advice and have a great week all!

Frank,

I'm not sure what you mean by a recorded contract but there is a title company involved if that's what you mean and they are holding my $2,000 escrow and say they cannot release it to me without his signature.

Theresa,

He didn't think he owed that much and in the past, the government took a few of his properties so he thinks they have it out for him.  His agent said he was told he could fight it but I think in the end he has just given up so that's why he fled to another state.

I doubt he will try to sell to anyone else, he's a bit mentally unstable but at the same time, I would like to protect my interest in the property if possible, or at a minimum be able to recover my earnest money.

Hello fellow BP'ers, I am new to BP but am not new to REI. One thing that I've never experienced in the last 17 years of doing REI is a seller that refuses to go to the closing table. I've got a fully executed contract and the seller has many liens on the property and owes a ton to the government. He didn't realize this when he signed the contract and will essentially be breaking even or even going into the red at closing. So he has decided to just abandon the property and I assume let the government take it. I am attempting to get my earnest money back but he's not cooperating and has fled the state. I've already spent money to have an appraisal and some other various expenses and am wondering if there is a way I can keep him from selling to someone else or if a court could possibly force him to sell to me? Just wondering if anyone has any experience as I'm not sure how this works in Missouri. I'm wondering if I could write up a mutual release in order to get my earnest money back while keeping him from selling to anyone else if he attempts to. Thanks in advance.