All Forum Posts by: Jason Lombard

Katherine Victoria Group, but I only have properties in North STL

thanks I knew it was a long shot.

My wholesaler is offering a 62 Property Bank Owned Portfolio in St Louis, MO. It is a cash deal for fast close, I don't have enough, so I wanted to share with the community. If you'd like more details from the wholesaler, send me your email address and I'll let him know. Asking $1.650 million Repairs $589000 Estimate by Property Management. Total Investment $2.2 million Estimated ARV $3.1 million One of the larger costs is new HVAC in the majority of the properties.

I live in another state, so I don't mind the inspectors. It lets me know if the property manager is doing his job keeping up with maintenance or not.

I own two rentals in Berkely, MO 63134. I bought them from a wholesaler because they were already occupied by tenants on 1 yr leases with Section 8; I see housing assistance as a positive. It's income I can count on being direct deposited the beginning of every month. The county has approved the property and sends out an inspector periodically, which I also like. I have professional property management experienced with that type of rental, worth every penny. The previous owner provided the tenants with ADT security systems, I agreed to continue the monitoring service. 

Saint Louis county, MO

Please send me specifics as well

Saint Louis, MO. The section 8 program there has been really easy, I've had decent vacancy rates, and I can provide tons of data that market is a value right now. Again, I like your idea about forming an equity group in CA and applying the funds to other markets like STL.

I own properties in this market already, I have a management team in place there as well, and I travel to manage projects onsite.  Im very mobile for work. Thanks for you input, I like your idea about leading a local equity group. 

I don't think it's unreasonable to borrow 70% of ARV, the lender would be in a great position. I'm willing to cover the 2% closing costs and I will have my skin in the game providing onsite management of repairs, open houses, and tenant screenings. I might consider negotiating some equity share or profit sharing. what do you think?