All Forum Posts by: Jack Luzecky

My biggest mistake was representing myself in the purchase of my first 2-family! I am an agent in St. Louis and decided to represent myself in the negotiations with the sellers. I had too many emotions attached to this purchase. It was my first deal, but in the past have represented 20+ clients in their investment acquisitions. I thought I had it under control. But, each time the seller countered the price I increased my offer accordingly, to match their counter. They raised it again... GO FIGURE! I made it too easy for them. In the end, I should have contracted another realtor who could keep the emotions out of the deal, like I do each time I represent a client. I still acquired the property at a significant discount, but the discount could have been so much better! Lesson learned! 

@Peter Kozlowski if you can be a good landlord, you can invest anywhere. It is just a matter of being prepared with some of the risk you will take on. Many buildings are board ups. The new NGA campus lot is now fully leveled and by 2024/2025 will be operating. The Stan Musial Veterans Memorial Bridge will be the most direct route to the new NGA Campus from Illinois. I would expect decent traffic between these two 'landmarks' with some outward redevelopment. 

Personally, I would stick to south St. Louis City and North County if you are buying out of state. I am not sure many property management companies would deal in North St. Louis City. 

@Kimberly H. on a scale from A-D what general tenant profile are you utilizing the codebox with? We manage a wide variety of properties and deal with all tenant profiles. Worried some areas won't work with the self show. 

@Kimberly H. showmojo does work great for the most part. Although, sometimes experience difficulties importing from propertyware and then also experience a lot of unexplained double bookings on leasing reps schedules. Another reason to get away from leasing reps! Thanks for your input!

@Steve Rozenberg thanks for your input! We are currently with Showmojo as well, but like I said are using physical reps to show. We've been with them for about a year and a half and definitely see difficulties. Thought this transition may be a good time to start looking at other softwares. Thanks Steve!

In today's world of technology, more and more companies are getting away from physical leasing agents showing rentals. There are definitely pros and cons to going agnetless, but I am curious if anyone has crossed over into this world. Our company has about 1,800 rentals with about 40-60 rentals on market at a given time. We currently have 4 leasing reps who accompany prospects at each showing, but are curious about going agentless. Anyone out there have any feedback or suggestions on how to go about this? Any and all help would be greatly appreciated. Thanks everyone! 

Buy & RUN!... I would recommend many other neighborhoods before looking at Cahokia for buy & holds. I am assuming you're looking at cheaper homes and would like to say BEWARE. Tenant profiles vary but I don't like the odds investing in Cahokia. You'd be limited on the property mangers that you can find to tend to your properties.

Hi all, I'm having trouble pin pointing an offer for an SFR short sale. The house is about 1,500 sq. ft. with an stone foundation that needs piers. I got a bid and found out it would cost 25-30k, and also comes with a lifetime warranty. My main concern is it will appraise for less because it has piers. I don't want to misjudge the situation, as the refinance is a big part of the strategy. So my question is, will this affect the appraisal in the future (lets act like the market will stay exactly where its at). To illustrate this better, lets say the house would be worth 170k IF the foundation had no issues. I pay 140k because the foundation DOES have issues and spend 30k to install piers. Would this appraise for 170k? Any and all help would be amazing! Thanks!

@Colleen Prescott listen to today's podcast, episode 301. This will give you unbelievable insight on the subject of long distance investing. All the podcasts are worth listening to twice, but this one is worth listening to 10 times. My favorite episode so far. If you ever look into St. Louis, MO market and need any info on certain neighborhoods, feel free to send me a message. Good luck on your endeavors! 

I just worked a deal with Kevin Dodson, great agent. @Nathaniel Lofton I also serve the St. Louis area, primarily South St. Louis City and North County. I am also a property manager in case you're in need of any management. Good luck Nathaniel!