All Forum Posts by: Jason Jones

Investment Info:

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

Purchase price: $215,000
Cash invested: $15,000

This was a 2 unit multifamily dwelling in a stable and growing area.

What made you interested in investing in this type of deal?

Transitioning from single family holds to multifamily holds.

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

I found this on the MLS and negotiated with the selling agent.

How did you add value to the deal?

I had to have property tuckpointed and roof repairs. However, for the sell the seller made a poor attempt to update with cheap material and poor craftsmanship. I will be able to use the poor renovation for at least three to five years before having to redo.

What was the outcome?

I turned the second floor unit into an AirBnB and put a long term tenant on the 1st floor. Regular rent is $1k per month and the bnb, so far, has avg about $2k per month. This property also has a detached two car garage that was able to rent out for $175 per month on neighbors.com.

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

I am a Licensed Real Estate Broker.

I have a seller that has a house she is looking to unload. The house is deeded in her parents name and both are deceased. Currently has a mortgage.  

She is the only child with no siblings, do this have to go through probate before she can sell? I do not think there is a will or power of attorney. What can or has to be done to transfer the deed? 

Hello,  I am interested  in speak with other who have done any kind revitalization project / new home development project.   Can anybody provide the name of a consulting firm that does feasibility studies and reports in St. Louis, MO..  Any help and advise would be helpful. 

I am looking for a consulting firm, in Missouri, that provides feasibility studies and reports. Im am considering a revitalization project in St. Louis. Looking for suggestion, tip, advice etc. Any suggestions from developers

Hello All, 

I am looking for any tips and suggestions on reaching "Trustee's" of vacant properties  in a letter campaign.  I seems that Trustees do not want to be reached and almost always their mail is returned with no forwarding address.  Any suggestions?     Also suggestion on reaching no trustee owners with no forwarding address.    Thanks in advance for tips and suggestions.  

Sorry, typo in the previous post. But I meant one the the tenant of almost ten years is interested in purchasing as is

I own two properties currently cash flowing appx $500 a month. The of one offer to buy as is which would net about $5-7k. However if I bring back up to market conditions I would net about 30k but would have to invest an additional $6k to not including carrying cost.

Thank you all for your feed back. I guess my intention is to purchase free and clear then pull my initial investment out and acquire additional property

Maryville is a very rural town. There is nothing there is expect the prison, college and other mom and pop shops. I dont know and the ROI but I'm not interested

I have worked in corporate america for over 15yrs and investing in real estate part time since I was making $70K on job... Well, I recently lost my job now finding another one is so painful and stressful that I really want to do real estate full time. The problem is i have about $2500 in the bank and $130k in 401k . I was think about liquidating my 401k which after taxes and penalties would net me about $95k and buying 4 properties I can rent out for $500 to $550. By my calc that would give me a 12% IRR over 5yrs considering about 1.5% appreciation. and would give me $22,600 before tax cashflow that i can live on and reinvest with.. I have been struggling with this decision for weeks..