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All Forum Posts by: Michael Aromando

Michael Aromando has started 1 posts and replied 20 times.

Post: New from Missouri

Michael AromandoPosted
  • Real Estate Professional
  • Saint Louis, MO
  • Posts 22
  • Votes 8

Kristie-

Welcome to BP.  If you become an agent, will you be focusing on working with investors?Many agents I know focus on traditional residential sales and invest on the side.  Let's talk sometime.  

Regards,

Michael Aromando

Invest 360

Post: Agent from Missouri, looking to invest and relo to Florida

Michael AromandoPosted
  • Real Estate Professional
  • Saint Louis, MO
  • Posts 22
  • Votes 8

Patti-

Love the plan.  I had started with a similar plan.  (When I was a single agent)  Let's talk sometime, I'd be happy to share.

Now that I've built a team, Invest 360 we are planning to expand to different cities through the Agent Expansion model.  Currently our focus is on selling Buy & Hold properties.  The next area for us to tap into is helping investors buy Vacation Rentals.

Regards,

Michael Aromando

Invest 360

Post: New member from St. Louis Missouri

Michael AromandoPosted
  • Real Estate Professional
  • Saint Louis, MO
  • Posts 22
  • Votes 8

Welcome to BP.

I'm also in St Louis. We specialize in helping investors Buy & Sell properties.  If we can ever be a resource, let me know.

Regards,

Michael Aromando

Invest 360

Post: New member from greater St. Louis area

Michael AromandoPosted
  • Real Estate Professional
  • Saint Louis, MO
  • Posts 22
  • Votes 8

Welcome to BP.

What type of investing are you looking to pursue?  (Buy & Hold, Rehab, Wholesaling, ect, ect)

My team, Invest 360 is based in St Charles also.

Regards,

Michael Aromando

Invest 360

Post: Help with FHA

Michael AromandoPosted
  • Real Estate Professional
  • Saint Louis, MO
  • Posts 22
  • Votes 8

Nathan-

What part of MO?

My team Invest 360, specializes in helping investors Buy & Sell investment properties (REO, Off-Market, Rehab, Buy & Hold, Multi-Family) in the St Louis Market.

We do have a few great Lenders.

Regards,

Michael Aromando

Invest 360

Post: Help... First Rental Property

Michael AromandoPosted
  • Real Estate Professional
  • Saint Louis, MO
  • Posts 22
  • Votes 8

Daymeond,

For your 1st few rental properties I recommend exploring Jeff City.  You can get quality properties at good prices.  

When advising clients on price point & location the first question I ask is:  "What could happen to cause you to NEED to sell this property over the next 12 months?"  If they quickly give any answer, I advise them to purchase rental properties in areas with a higher % of owner-occupants.  

Example:

In St Louis we have some great Pure Cash Flow play areas.  (i.e. decent schools, stable rents, close to jobs & transit)  You can buy these properties for $20-$25K & rent for $600-$650 per month.  The challenge is you will only be selling the properties to other investors and have very little chance to sell to owner-occupants.  Other areas you will pay $50K-$65K and get rents of $750-$850 and when it's time to sell you will have potential owner-occupants.  These areas will give you a greater buyer pool.

It will be a learning experience and being close will may the experience more profitable in the long term.

Post: New Real Estate Investor in St. Louis, Mo

Michael AromandoPosted
  • Real Estate Professional
  • Saint Louis, MO
  • Posts 22
  • Votes 8

Kory-

The good properties to rehab in St Louis sell very quickly.  The competition to acquire them has been heating up.  Have your criteria and plan nailed down.  This way when you find the right deal you can act quickly.

If Amie is planning to work with investors, feel free to reach out to me.  My team, Invest 360 works exclusively with investors (Rehab, Buy & Hold, Liquidation, ect).

Post: How to find an owners phone number?

Michael AromandoPosted
  • Real Estate Professional
  • Saint Louis, MO
  • Posts 22
  • Votes 8

Name & Mailing Address:  Tax Record Search.

Phone #

  • Free searches
  • Paid searches (If you do this on a regular basis, pay for a subscription)
  • Knock on the neighbors doors
  • LinkedIn & FaceBook messages
  • If the Tax Record shows they own multiple properties, contact tenants to get owners phone#.
  • Run a MLS search for Expired, Cancelled Withdrawn. If the owner had it previously on the market, contract the last agent.

Post: A few deals down and I'm only getting started!

Michael AromandoPosted
  • Real Estate Professional
  • Saint Louis, MO
  • Posts 22
  • Votes 8

Imperfect ACTION, is better than Perfect INACTION.  Great Job getting started!

MASSIVE ACTION is the corner stone of success

Post: Questionnaire for New Investors

Michael AromandoPosted
  • Real Estate Professional
  • Saint Louis, MO
  • Posts 22
  • Votes 8

Great Thread:

My team works exclusively with investors, primarily to help them sell investment properties. As a result, I spend a fair amount of time help agents in our MLS work better with their clients looking to purchase properties. The better the serve their clients, the more agents I have needing investment properties.

Here is a few of the standard questions I suggest they ask:

  • What is your primary objective? (i.e. Income, Appreciation, Forced Value)
  • What areas are you focusing on purchasing properties? (Unlike many Major Metros, STL has 23 School Districts. This is a key factor in our area)
    • What is important about this area to you?
  • What type of property are you looking to purchase? (i.e. Bed, Bath, Basement, Garage, Construction)
    • What is important about this to you?
  • What financial guidelines do you use? (i.e. CAP Rate, Gross Rent Multiplier, Cash-on-Cash)
  • Tell me about the best property in your portfolio. (Style, Returns, All-In Price (Purchase + any repairs), Monthly Rent, School District)

For the buyers my Team works with we conduct a detailed Needs Analysis consultation with every investor (1-2 hrs).  Before we present or show any properties.  This process enables us to show them other strategies to accomplish the same goal.  And many times we will know more about their ideal investment than they do and it saves them tons of time.