All Forum Posts by: Jeffery Neal

I am closing on my first investment property a duplex in St Louis MO in about a month. I am using a VA loan and I am required to live in on of the units. One unit is month to month and has been for 6 years, the other has a lease until July of next year. How do I give notice to the month to month unit that I will not be renewing their lease correctly?

The tenant has already been unofficially notified that this is my intent through the real estate agents. During the inspection walk through the tent expressed their unhappiness with my decision to move into their unit. I just want to make sure if for whatever reason the tenant gets sue happy that I do everything correctly. 

 @Peter MacKercher Is very active on BP and would be a great agent/investor/contractor to get in contact with.

My wife and I have decided to house hack for our first investment property. We have settled on a neighborhood in Clayton near St. Louis, MO. The area we selected is a nicer area due to the fact that we will be living in one of the units. With that said we have been watching the area and none of the properties have shown up on the MLS (or to rent for that matter). So we have decided to try a targeted mail campaign for our first investment property. Which mean we know very little about what it takes to get some one to respond to our letters.

I have done a property search of the area and the majority of the properties come back to and LLC or a trust, so I am assuming that most of the people I will be sending my letters to are investors. I have been able to get the owners address from these records but I am having trouble writing the letter. I have search the intra-blogis-sphere for example letters to send and haven't had much luck.

So here are my questions: 

Does anyone have an example letter directed to investors that own small multifamily properties that they would be willing to share? Or tips of what I should include in the letter?

Should I have a Lawyer look over my letter? (probably just paranoid) 

What are the opinions and experiences that people have about targeted mailing campaigns for small multi-family properties?

Is there a way to find their phone number with any kind of certainty? Bad idea? maybe.  

Would it be better to start talking to property managers and if I find one that manages one of the property have them reach out to the owner? Would they even do that? 

Do you have a Multi-Family property for sale in the Demun neighborhood of Clayton? JK.. but seriously?

Many other questions but I probably should stop.  lol 

I am about to get my feet wet in REI and looking for some advice based on my situation.

I have a degree in construction management and work for a large commercial construction company. I have grown up doing construction with my father who owns a small construction company in MO. I also have served in the Army for the last 10 years in a reserve component. My wife and I recently sold our house that we did a live in flip on and will be moving to St. Louis. 

I was planning to house hack by purchasing a duplex or a four-plex with a VA loan that would allows me to put zero down. My wife will be finishing up her degree and will start working as a Physician Assistant at the end of the year. Her parents have graciously allowed us to crash in their basement for as long as we need. I was prequalified for 300k personally and my wife will be making more than i am currently.

I am looking to get a solid foundation of rentals over the next several years and wanted to make sure that I didn't make any avoidable mistakes right out of the gate. I want to become a full time investor within the next 5-10 years. What advice would you give to someone just starting out with relatively no experience other than construction skills and the several books I have read.

Thanks in advance for your welcomed advice.