All Forum Posts by: Jason Lombard

I’m waiting a bit longer to see if eviction and foreclosure moratoriums abruptly end. If some new protections are passed, or they end with a mehh, I’m back to buying. 

What would you do with $125k right now? Wait 6 months or longer? Down payment on an apartment building? Mobile home park?

I'm VA cash out refinancing my home and getting $115k cash back @2.75% fixed with 1 point + costs rolled up. I already have 6 SFR in MO, 2 office units on NNN lease in TN. Decent amount of securities and dry powder in my 401k and IRAs too. I have great W-2 income and credit. I'm vested in two modest government pensions but can't start drawing on those or IRAs for 14 year.

Anyone have a referral for a property management co. or manager for a SFH in Seattle suburb of Renton, WA??

Can someone recommend a home inspector in Saint Louis, MO for a house in 63137?

My properties are in 63134 (Berkeley). It's just South of 63031 (Florissant). 

Like C-

On 63031 (Florissant), my properties are just slightly South of Florissant in Berkeley. My property manager suggested I buy my next properties in Florissant. I agree with the opinions that you (or your trusted advisor) need to do due diligence on the property and surroundings. But I disagree with avoiding North STL. If your on a limited budget like I am, you can squeeze more ROI out of lower priced areas. As an out of area investor, we need professional property management anyway. They screen and deal with difficult tenants, maintenance, etc. which is well worth 10% of rents, and offset by higher ROI. If you are going to try to manage the properties yourself, or have more money, or find a slam' hot deal, then yes, go for a higher class areas with lower returns but fewer headaches.

As for SFHs vs. MF, I own a Triplex in San Diego where land is expensive and deals are very competitive. In STL I'm buying SFHs wholesale at deep discounts with value add in repairs. I think deep discounts on plexes are much harder to find. My two SFHs cost $60k total, gross $1,300 rent per month and net ~$700. ARV is about $100k if I choose to cash out refi.

I invested in two SFHs in zip 63134 (North STL) this June, so it's a little early to tell. I bought them below market value from a wholesaler (although it's a little tricky to tell with comps, as MO is a non-disclosure state). I don't expect anymore appreciation, but they are cash flowing ~14% ROI, could do better if they were financed. I bought them cash. STLHA has good section 8 payments.

There are some really great deals right there in Saint Louis. I'm investing in that market. Let me know if you'd like a virtual intro to my wholesaler out of Lake Saint Louis.

I'll be traveling to Playa Del Carmen, Mexico soon and would like to meet with a real estate agent there, preferably English speaking, but not required as my wife's fluent. We'd like to buy a property to use as both a vacation rental and to stay in ourselves a few weeks a year.