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All Forum Posts by: Julie Thorngren

Julie Thorngren has started 2 posts and replied 13 times.

Post: 4 Family BRRRR in St. Louis Hills

Julie ThorngrenPosted
  • Real Estate Agent
  • St. Louis, MO
  • Posts 13
  • Votes 15

This is awesome! 

@Joseph Schweizer Thanks Joseph, I appreciate that! It looks like you also invest in rentals - I would love to hear your story too!

Post: Markets with Worst Appreciation

Julie ThorngrenPosted
  • Real Estate Agent
  • St. Louis, MO
  • Posts 13
  • Votes 15

My team and I just recently put together a Market Report for St. Louis, MO. Let me know if you may be interested in checking it out!

Post: Looking for local investors

Julie ThorngrenPosted
  • Real Estate Agent
  • St. Louis, MO
  • Posts 13
  • Votes 15

Hey Dylan, I'm an agent and investor in St. Louis. I run into the same problem with not having many people in my immediate circle who are into talking real estate investing with me. One of my 2021 goals is to start surrounding myself with more like-minded people and start attending more meet ups. I would love to connect with you!

@David Ounanian Thank you David!! :D

Investment Info:

Small multi-family (2-4 units) buy & hold investment in St. Louis.

Purchase price: $106,000

I am beyond excited that I recently closed on my second duplex in St. Louis!

I secured an off market duplex where one side is tenant occupied and in good condition and the other side is vacant and in need of a light rehab. I am currently in the process of finishing the rehab that consists of new flooring, paint, fixtures, and a few plumbing and electrical repairs. This will be cash flowing rental property by March once the rehab is complete and a tenant is secured.

How did you find this deal and how did you negotiate it?

I drove by this property daily & noticed it was not being well maintained. I looked up the owners contact info & kept in contact with them for months until they were finally ready to sell. I wrote them an offer & they accepted it before listing it on the MLS. I negotiated the sales price by finding out what they wanted to get for the property, running comps & presenting them with a detailed market analysis for the property. I negotiated the price down further after inspections as well.

How did you finance this deal?

I financed this deal through a private lender.

Lessons learned? Challenges?

Following up is SO important. If I hadn't found the owners information and continuously followed up with them, I wouldn't have been able to secure this off market property for such a good price.

Sometimes you have to get creative with financing in order to fund a deal. There are many ways to do this, but I went with a private lender.

Small things like fresh paint, flooring, new light fixtures, etc. do WONDERS to a property!!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I am a licensed Real Estate Agent on the My Agent Investor team in STL. Feel free to reach out if you have any questions about investing, creative financing, finding off market deals, or anything real estate related!

Post: How I Made $13k Closing On My 1st Investment Property!

Julie ThorngrenPosted
  • Real Estate Agent
  • St. Louis, MO
  • Posts 13
  • Votes 15

@Ethan Perry Thanks Ethan! I appreciate it!

Post: How I Made $13k Closing On My 1st Investment Property!

Julie ThorngrenPosted
  • Real Estate Agent
  • St. Louis, MO
  • Posts 13
  • Votes 15

@Devin Gusich I'm glad you found this helpful! Feel free to reach out if you have any questions as you get started :) Best of luck to you too!

Post: How I Made $13k Closing On My 1st Investment Property!

Julie ThorngrenPosted
  • Real Estate Agent
  • St. Louis, MO
  • Posts 13
  • Votes 15

@Account Closed Thanks so much Rachel!

Post: How I Made $13k Closing On My 1st Investment Property!

Julie ThorngrenPosted
  • Real Estate Agent
  • St. Louis, MO
  • Posts 13
  • Votes 15

@Lynnette E. Yes, some of the money was for repairs. I could see that normally being the case where the lender would require the money be used to make the repairs, but not in this case. I ended up using most of it to make updates and repairs anyway though - trying to fix it up as quickly as I can so I can rent it out and buy another soon!