All Forum Posts by: Matt Brust

I live in a smaller town roughly 11,500 people and about 30 minutes from Columbia, MO. Does anyone have experience investing in smaller towns, Pros and cons to it? The area I’m in is C-B with a few A neighborhood sprinkled in with no rhyme or reason to their location, demand for rental properties is high but the landlords here already close niche and older. There are plenty of good well paying jobs around, mostly factory but the work is here and close by although I’m new to the area (5 months) I’ve noticed some hot spots for crime, drugs mostly, but what confuses me is one block is decent, yards maintained, clean looking, nice curb appeal, but then you go a block down and it looks like a war zone. If any one has some do’s or dont’s or has some experience with investing in similar areas I would love to hear your feedback and pick your brain! Thanks in advance, Matt.

Owner said he had a contractor walk through but you are probably correct in a WAG. That being said I’ll get in touch with a contractor today and do a walk through with them. 

Hello! My names Matt, I recently decided I wanted to get into the rental business and build a life for my family and I. I think I have come across my first property and I'm seeking advice because I feel a bit overwhelmed. But I'll jump right into it. The property is a 4 unit apartment building that needs a full rehab. Windows, doors, floors, you name it it needs it. Asking price is $20,000 with a ARV of $162,000 with 90-110k in rehab costs. Estimated rent is 1700-1900 monthly. It's located 1 block from a hospital in a fairly nice neighborhood. The city itself is small, only about 12,000 people. What I was thinking is come in with a $10,000 offer for the property and use a hard money lender or find a partner/investor for rehab cost and go 80/20 or whatever split is desired to make the deal happen so I can get the experience needed to do more of these in the future. I'm sure I missed a lot of information and please feel free to ask questions. Thank you for you're time, any advice is welcomed!