All Forum Posts by: Lee Carrell

Hi Mathuw!

I have the same issue only with a gas heater. The bills are rather high due to the high ceilings, older furnace, window drafts, etc. These are all typical issues with homes in St. Louis build around the turn of the century. You are doing them a great service by cutting their rent and making the upgrades that you mentioned. Unfortunately, many tenants don't seem to care one whit about anything extra that you do for them.

If you want to pursue it, you can call in an HVAC professional to analysis the furnace and do a heat loss check to show where you are losing heat and may need additional insulation.

Hi Ben! Welcome to BP!

Read the books and forums, listen to the podcasts, and ask lots of questions!

Obviously, prices for materials and supplies vary even if you are in the very same city. What I've learned is to shop around for the best material at the lowest price! Every dollar saved is a benefit, because you can use it on something else that you will surely need or it goes into HNB. You've already experienced the biggest savings when you do it yourself!

If you do move to the St. Louis area, feel free to open up your door business here too!

In Missouri, if you have an oral lease a 30-day notice is required. If you have a written lease, it  automatically ends at the specified date on the lease.

A landlord can begin eviction proceedings for several reasons. Such as, if the tenant; doesn't pay rent, fails to vacate at the end of the lease term, damages property, violates a condition of a written lease, is involved in criminal activity, etc.. However, you cannot file for an eviction until a specific action has actually occurred.

If the tenant has not vacated after the lease ends, you can sue for 'unlawful detainer'. Which basically means that the tenant is unlawfully detaining you from the use of your property. 

Hi Phillip!

Good job on stepping out! Speaking from personal experience, I would stabilize the first property before buying another. Follow the Buy, Rehab, Rent, Refinance, Repeat (BRRRR) formula. Be enthusiastic, but don't get overanxious to hurry up and accumulate more and more properties!

Hi Chris!

Welcome to BP! You're off to a great start! One thing, don't allow your anxiousness to cause you to neglect being patient and doing your homework before making any deal. Try to find properties that fit your requirements, but need as little work as possible. Your bank account will thank you!

Lee

I'm glad that you are stepping out and purchasing a property, but I have rehabbed a couple of pre 1930 homes and they are not a walk in the park! Just from the pictures and what you've stated, that is a complete tear-down! You already mentioned repairing floors, walls, ceilings, windows, shutters, siding, a heat pump, and cosmetics! I will add that a 1928 home without any previous updating is going to need plumbing, electrical, roofing, foundation, and landscaping work too! Maybe the land is worth $20K. Maybe!

You said that you attend church with them, well this is an issue that you need to very, seriously pray about! Better deals are available! Keep looking!

The mayor of Country Club Hills was already chased around by the news crews! Apparently, they don't have enough money or people to handle the city business. So the mayor has to pitch in more than usual. He was too busy to even talk to the news crew. As they kept talking, he kept walking! Good luck with that!

I have two 100+ properties in St. Louis. I am insured by State Farm both properties, plus my home and vehicles. They just wanted proof of updated systems in both buildings. Obviously, it pays to shop around for best coverage, best price and lowest deductible!

The City of St. Louis has a nuisance ordinance that impacts landlords also. Some of the same issues have been raised to no avail! Especially that they are trying to make landlords responsible for the personal behavior of the tenants! I had to go to housing court because one of my tenants was arguing with his wife. When I spoke against the ordinance, and pointed out that they were trying to make landlords act as police, they looked at me like I was crazy! It seems that the only remedy is eviction, unless you want your property boarded up for a whole year!

The final passage meeting for the County is tonight, 9/29/15, at 6pm! Here is a good video of the last county council meeting about it -