All Forum Posts by: Jason Baker

thanks Donald for your input, and I look forward to connecting with you. 

@Jay Hinrichs Understood. I just made a few inquiries from some connections I made here and all ready getting contacted with leads. I had concerns if I am even going to deal with the people who actually have the deed. Someone who wants money up front before a deal is even closed seems scary to me. I have just learned how to navigate the records lookup page in st. Louis and I find that some of these distressed properties have changed hands numerous times from various llc's and owe thousands of back tax dollars.

I understand the due diligence part.  If the numbers don't work than it's no deal.  But more to my question is  it possible to negotiate some sort of incentives on the back end of the deal such as after rehab equity like if I am going todo a deferred financing deal after rehab. So that they have a little on going skin in the game if they feel it is truly a good deal

I have read a bit on BP forums about wholesaling, listened  to many podcasts where investors mention wholesalers being a good resource for finding properties. Most information revolves around how to wholesale or breeze over the buying process from a wholesaler.  So my question is from the investors standpoint what are some basic terms of the contract that i should be keeping in mind.  If a deal comes my way that is good i want to maximize my position but also keep some favorable terms for the wholesaler so that we may have a relationship in the future. 

i have a question in use of the calculator. I am figuring a hard money loan for 80,000 for the rehab, but when the numbers come out i see that it doesn't factor in my cash payment for the property of 16,000. it shows 68,000 as surplus. help is needed. Also playing with the numbers because i don't want to re-finance for the whole 75% of ARV because i want to keep monthly payments lower to try to keep 100 per unit cash flow or 200 total. i know i am not pulling out all the equity i would have acquired but i feel this makes more sense. This is more of a exercise at this point. but i am still going through the motions. originally site unseen i had a 45000 rehab based on pictures, i had a contractor friend of mine look at the place and a rotten sub floor on the upstairs unit from a leaking roof brought rehab up to 80,000. I don't really think the numbers make sense anymore. any input is appreciated

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*This link comes directly from our calculators, based on information input by the member who posted.

@Megan Greathouse yes. I am there quite often. My family and old friends are there. I want to have a long term presence there in the future, but I have a job that does very well for me now and I am using this time to stock away capital. I want to start to get some rentals together in the meantime and grow a portfolio that will alow me to begin a new phase of my life.

Property management in st. Louis city. I am a person who likes to do research. I feel research for your needs before the event arrives helps to mitigate against poor hasty decisions. So property management in st. Louis. Anyone have any insight. I've started doing research, still studying company profiles and reviews. Seems all have bad reviews, especially from tenants, not as much input from the landlord side. I know on BP everyone hates property managers but I want to strike a good balance from looking out for my interests and the tenants. I want to build relationships with the community I invest in because you never know when you need help, I don't want to be just another slum load from afar.

@Vince Mayer. St. Louis city proper, or metro areas on the outskirts of the city. I have a few areas in mind. I like the idea of partnerships, some things I can bring to the table is some capital, knowledge, project management experience, and eagerness and grit. I have some old friends involved in small rehab projects in the city. Something I see as a big problem is the large amounts of partially started foreclosed rehabs that were bought up after 2008 and left sitting to rot by out of state investors. I feel prices are so macro in the city that just by decreasing some vacant properties on a single street can have huge effect.

I am a St. Louis Native born and raised.  Left in 2000 to pursue different careers , but have been interested in real estate for a few years. I recently found and joined bigger pockets joined became pro, and have made it my life every spare moment i have.  I have been building capital as aggressively as possible past couple of years and feeling comfortable starting now.  I want to invest in my home town and be apart of the future to turn this amazing city around.  So I want to meet people who have or are planning on investing in St. Louis and want to get a team together, i feel this is critical