All Forum Posts by: Maggie L.

 I'm originally from Minnesota, and grew up thinking I was from the Midwest.  Now, living in St Louis where people say this is the Midwest, I say I'm a northerner. Which is why I also dismiss any complaints about "winter" - if you can wait for the snow to melt rather than shoveling your sidewalk it's not a real winter.

@David Coombes it sounds like you've gotten a lot of good advise here, but I just wanted to add in my two cents as a fellow investor in the Tower Grove area. This is a hot section of South City, and you're going to pay that premium in your purchase price. For some of my clients (I'm an investor-friendly agent as well) they add in appreciation when calculating their ROI to get to numbers they like. Personally, I don't include appreciation (only added value from major improvements I make), but then I'd also never expect 2% around here. St Louis is a block by block market (to a degree that often surprises my out of state investors) but there are lots of great opportunities if you do your due diligence and recognize there's an important reason the seller is trying to unload their property.

If you're thinking investment, condo fees are going to be a bigger dent in your ROI than most PM fees. As a buy and hold investor in South City with a house hack, I find the St Louis market extremely appealing for this method of investing. I'm also an investor-friendly agent and I must say my buy and hold clients, especially the out of state ones, really like all of the options you have in small multifamily in the City. There are so many unique neighborhoods, so you can really think about the type of renter you want to attract, your investment strategy (do you want to renovate a bit and build equity or a ready to go turnkey, invest in an up and coming neighborhood with appreciation potential or a neighborhood that's been solid for decades), and the lifestyle you want to live - it's a house hack after all. Feel free to PM if you want to talk South City.

Welcome to BP from way over in St Louis! I'm also a buy and hold investor (as well as an investor friendly agent) and currently house hack a duplex in South City. There are lots of great resources on BP, along with excellent networking opportunities here and with local REI groups. Have you made it to any local meetings yet; they're great networking, inspiration, and way to find investor-friendly contractors of all types.

Welcome to BP from way over in St Louis! I'm also a buy and hold investor (along with an investor friendly agent) and currently house hack a duplex in South City. There are lots of great resources here, along with excellent networking opportunities here and with local REI groups. Have you made it to any local meetings yet; they're great networking, inspiration, and way to find investor-friendly contractors of all types.

It doesn't sound like you show them you're serious early on, so it's not too surprising most don't take that relationship seriously and end up with someone else.

When I sit down with a potential client I spend a good hour interviewing them - what they're looking for, where they are in the process, other items e.g. investment strategy for my investor clients, long term goals, etc. Ideally, this is when I set up their auto email (easier to get geographic boundaries just right when they're with me), and right after that meeting I send them the buyers agency agreement to sign (electronically). 

After that I follow up weekly if I haven't heard from them - obviously if they said it will be a month to clear an item to get a better preapproval or somesuch I'll wait a month, but otherwise it's on me to check in and main tain a relationship with any buyer that seems close to ready.  I prefer electronic followup, but you need to use the method that they prefer - if they exclusively text I text to checkin, if they're good over email I email.

@Jamie Carter welcome to BP! How do you want to get started in the REI adventure? I'm a buy and hold investor with a focus in South City myself, but investor clients (I'm an investor-friendly agent) who do fix and flip as well as buy and hold around the greater St Louis area. In addition to a lot of great resources here on BP I recommend checking out some of the great REI groups around St Louis if you haven't already. Feel free to PM if you think I can help.

@Danielle Thompson have you spent any time at local RE groups?  When I started as a buy and hold investor, then later as an investor-friendly agent, I found they were a great for both networking and learning about RE.  There are several in the region with different styles and areas of focus, pm me if you'd like to chat.

Raad, I'm a St Louis buy & hold investor who decided to get their license (if I help other people buy property I won't take on too many projects myself, plus I love all of the data on the MLS) and had this question as well. @Mackal Smith already mentioned SSIC and Nick Bauer - excellent resources. 

Before I'd try to recommend brokers I'd ask what you want to do with your license.  Are you looking to make purchases yourself or for other investors?  Do you want a brokerage that lets you do your thing or one that provides mentorship, classes, and systems for you to use. Regardless of what you want to do I recommend sitting down with multiple brokers and asking lots of questions.  You should get a feel of the office and whether it's a good fit.  Whatever you do, make sure to ask about the fine print and what's required (classes, marketing materials) for new agents along with any associated costs.

You've gotten a lot of great advise and I don't want to repeat others, so I'll just bring up a few items. Also, don't forget high turnover rates mean that new salespeople are in demand; this is a commission based profession & many brokerages design themselves to cater to new agents. They may or may not be a good fit for other reasons.

1) Look for a brokerage that will help you accomplish your goals. Do you want a mentor, someone that has a marketing style in place you can use or do you want to do your own, considering property management? 

2) Find someone who supports your learning style. Are you best left alone or do you want a classroom and someone checking in on you?

3) What services does the broker provide, and what fees are associated with it? Pay attention to what's required and what's option here - and consider it along with the commission split when running numbers. E&O insurance, desk fees, marketing materials, classes, etc.

I personally chose Keller Williams, and would be happy to discuss of you want to pm.