All Forum Posts by: Matt Conrad

Hi Christina. I haven't invested anywhere else in the state except the St Louis area so I can't speak to that.the BRRRR process for works very well as long as you have things in place up front. Have a good group of folks in your toolbox. A good hard money lender a good commercial lender a good conventional lender, etc. Also good wholesalers are the key to it. if you want to find houses on your own there's lots of ways to do that as well.Be glad to talk to you about our process if you're interested.

Hi Christina. Welcome to the world of investing. St Charles can be tough. Things don't come up very often and when they do you have to decide what kind of investing you're going to do if you're going to do flips it should work well for that. But often the numbers do not work for a rental in St Charles county unless you are paying cash. Purchase prices are higher there than other areas of St Louis. So that prohibits a financed property from always making sense for a rental.

Hi Cody - I have been on the search for awhile. My situation is a little different in that I am not house hacking. I just want to purchase and load it with renters. I have found very little available first of all. But when I do, the numbers just dont work with a mortgage. The prices are a little too high and the higher st charles county rents dont quite compensate. 

Good information - Thanks guys!

Closing costs are killing me. When I close with a Hard Money lender - it is $3000. THEN, I refinance with a portfolio lender fairly quickly, and its another $3000. My question is - is there anyway to reduce this on the refinance? Does anyone experience the "exit lender" NOT doing a new title search and title insurance, etc?

Hey Matthew - Welcome to STL investing. Just do some research, get your "toolbox" in progress, ask alot of questions - but most importantly, pull the trigger! The hardest part is to just get your first one done. It was for us. But after that, you learn so much and it gives you the drive to keep going. You will love it!

Hey Jake. Definitely. I have two properties there already and will be looking for more. It's not where we wanted to be yet but I think it's going in the right direction.

And based on my knowledge of south city 4-plexes, you are going to need all the cash flow you can get with a $160,000 mortgage!

Our philosophy is to insure for property value only. It is unlikely that you will try to rebuild a building in south city. If something happens, insure it for enough to pay your mortgage and maybe a little more.

Eric Brand, Shelter insurance. I have Foremost policy through him.