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All Forum Posts by: Jack Luzecky

Jack Luzecky has started 7 posts and replied 70 times.

Post: Pro Athlete setting the foundation for life after the game

Jack Luzecky
Agent
Pro Member
Posted
  • Property Manager
  • Saint Louis, MO
  • Posts 76
  • Votes 56

@Greg Ranjitsingh if you ever have the opportunity to play for St. Louis' team (coming soon) you'll find it to be a very advantageous market. Best of luck on your journey!

Post: Cleveland or Saint Louis area? Pros and cons?

Jack Luzecky
Agent
Pro Member
Posted
  • Property Manager
  • Saint Louis, MO
  • Posts 76
  • Votes 56

St. Louis is very diverse in terms of property types and values. If you plan to purchase off the MLS then you will not find many leads that meet your 1% rule. If they do meet or exceed the 1% rule then you may be in a neighborhood that is known for higher turnover, little or no appreciation, and subsidized housing. If cash flow is your top priority then you can do well with investing in St. Louis. Just be sure to partner up with a good property manager if you plan to invest remotely.

Post: Networking to expand my business to nearby Midwest states

Jack Luzecky
Agent
Pro Member
Posted
  • Property Manager
  • Saint Louis, MO
  • Posts 76
  • Votes 56

Hey @Stephen Jones i'm a Property Manager in St. Louis, Missouri. St. Louis has opportunity for many different investing strategies. If you're ever interested in hearing more about our market feel free to send me a PM. 

Post: 2020 BRRRR - Greater Saint Louis, Missouri Area - COMPLETE

Jack Luzecky
Agent
Pro Member
Posted
  • Property Manager
  • Saint Louis, MO
  • Posts 76
  • Votes 56

Great work @Michael Fleet! I'm glad to see these deals still exist in this crazy market. 

Post: Taking the leap...What cities are good to start in?

Jack Luzecky
Agent
Pro Member
Posted
  • Property Manager
  • Saint Louis, MO
  • Posts 76
  • Votes 56

@Ronald Coriolan St. Louis, MO is a great market for both cash flow and appreciation, while also having a lower barrier of entry compared to most markets in the United States. St. Louis is home to all types of real estate and neighborhood classes. But, just like many other metropolitan areas, neighborhoods can change drastically after hopping a block or two over in the wrong direction. Whichever market you choose to begin your real estate investing career, be sure to connect with local property managers, realtors, and contractors to get a good lay of the land. 

Post: Multifamily costs estimate

Jack Luzecky
Agent
Pro Member
Posted
  • Property Manager
  • Saint Louis, MO
  • Posts 76
  • Votes 56

@Adriano Caraco as mentioned above, MF tenants will typically pay electric and gas (as applicable) and the owner will pay water, trash, and sewer. Electric and gas companies will go after the tenant for non-payment. In single family homes it is not unreasonable for the tenant to pay ALL utilities. Tenants are allowed to put water, trash, sewer in their name, but if there is a past due balance they will go after the property owner. Because of this, owners will typically keep these utilities in their name to ensure on time payments and bill the tenant on a monthly/quarterly basis. 

St. Louis City Rates:

  • -Trash - $14/month/unit (billed quarterly)
  • -Water - $3.76/room/month; $14.72/toilet/month; $12.35/bath/month; $12.35/shower (separate from bath)/month (billed quarterly)
  • -Sewer - $26.35 base charge/month; $8.93/bath/month; $2.89/room/month; $10.72/toilet/month (billed monthly)

**Room count is based on City Tax Records (make sure city records are correct)

@Frank Masek and myself work with multi-family investments in St. Louis City on a daily basis. If you ever need assistance with your next acquisition we would be happy to help. 

Post: Why are people buying at these prices?

Jack Luzecky
Agent
Pro Member
Posted
  • Property Manager
  • Saint Louis, MO
  • Posts 76
  • Votes 56

Real estate, at the moment, is a safe place to put your money to work. A lot of cash investors are swarming the markets. Its a great deal if an investor can take in some positive monthly cash flow and resell the property with little to no loss. 

Post: How much equity would I have from BRRR in this example?

Jack Luzecky
Agent
Pro Member
Posted
  • Property Manager
  • Saint Louis, MO
  • Posts 76
  • Votes 56

Yes, you are correct when analyzing the equity at the end of your statement. You will have substantial equity and your money will be back in your pocket. Just be sure to take all of the holding costs into account as well. 

Post: House hacking in an LLC

Jack Luzecky
Agent
Pro Member
Posted
  • Property Manager
  • Saint Louis, MO
  • Posts 76
  • Votes 56

@Samantha P. Nope, an Llc can purchase property. A residential mortgage lender most times cannot. But, if you work with a smaller bank that acts more as an investor then they are likely to lend to an llc.

Post: Should I purchase my sister's rental property?

Jack Luzecky
Agent
Pro Member
Posted
  • Property Manager
  • Saint Louis, MO
  • Posts 76
  • Votes 56

@David Latu at a glimpse, I say go for it! Cash flow is great but i love equity as well. Based on your numbers, you will have a loan of 225,000 and the property will be worth 375,000. This is 40% in equity which is enough to obtain a Home Equity Line of Credit and give you the opportunity to deploy cash when another good investment comes across your desk. Before going this route, check with local banks to determine their specific criteria on a heloc. With the pandemic, many banks will be tightening their restrictions.