All Forum Posts by: Lee L.

Right now I have a friend of a good friend who does a lot of rentals (approx 60-70) and owns his own management company who has kind of shown me some of the ropes. He found the first house for me and handled all of the rehabbing, tenant screening, rent collection, etc. He even said that after 1 year if I didn't like the investment, that he would buy it from me for what I paid so there would be no loss.

I don't have a lot of time that I can devote to this right now so our agreement/relationship is working. He makes money, as do I.

Alabama, right near Hwy 55.

What areas have you been considering?

Thanks Brian. The only problem with BP is that once I start searching/reading, it is never ending, and I can't stop. Then, at night, I wonder why my eyes are burning and my head is pouding! :D

Learning the 50%/2% rules have really made evaluating deals much, much easier. Even though I bought my first property before I found BP, luckily it still exceeded the 2% rule and still cash flows well after the 50% rule

The rental is in South City (state streets). The area is pretty good though, not a war zone.

Do you have rentals in the St. Louis area?

Hi there. My name is Lee and I am a new member and new investor in the St. Louis area. I finally jumped in the market last fall and purchased my first rental property. It's had its ups and downs but overall it's been pretty good.

At this time my plan/goal is to build up a portfolio of rental properties that have good cash flow. I'm 33 years old, so hopefully in 20-25 years I'll have a nice portfolio built up to provide a substantial income stream to compliment retirement stock investments.

I work full time so real estate is something I do on the side for now. That is the main reason I am investing in rentals (buy and hold).

I have been reading all I can on BiggerPockets and the wealth of information has been outstanding!