All Forum Posts by: Michael Aromando

Welcome!  Let me know how I can be of help.

One of my Lenders has mentioned they will refinance rental properties for out-of-state investors.  I'll figure out which one it was.

The small banks are great to work with and they seem to change their criteria.  We are always on the look out for new Lenders.

The best option for selling your properties is to use a Realtor who specializes in Investment Properties.  Selling investment properties correctly takes skill and a large network.  Like wholesaling you have to have great connections and marketing skills.  

There are 3 Key things to selling a property:  Location, Price and Condition.  Selling Real Estate is a Price & Beauty War.  Can you change the Location?  Do you want to change the Condition?  If you want to sell it quicker, lower the price.

Welcome Matt!

I'm also in St Louis.

Have you looked into St Louis?  Property values are school district driven and with 23 School Districts you have choices to meet your investing objectives.

Welcome to BP...  What type of lending are you doing?

Oops....  I was trying to past a spreadsheet with the calculation.  I wrote one recently for a client to show him was different long term strategies.  

I.E. Leverage $100,000 as 30% down payment & reinvest the profits annually (leverage).  Year 16 you'd net $210,698

BP:  Your insight would be helpful.

I am teaching a series of classes for Real Estate Agents.  I'm looking to expand there collective thinking about provided High Level and valuable service to investors.  I like to show them some of your responses and experiences in the St Louis Market.

A few questions:

Are you investing in St Louis Metro area?  

Are you buying:

• Turnkey
• Buy & Hold w/ tenant
• Buy & Hold - Rent Ready - No tenant
• Fix & Flip
• Fix & Rent

What have your been your experiences investing in St Louis?  The Good, The Bad & The Ugly.

How do you find properties?

How many properties do you own in St Louis?

Thank you for your comments in advance!

@Tammy Wise:  There are deals in EVERY Market cycle.  Develop your success formula, identify your target location and find the properties which meet your standards.  If you can hit singles and doubles in good times, you'll be knocking it out of the park during market corrections.

@James Wise:  Well said.  The Midwest is a great place for Buy & Hold investors to purchase properties at a fraction of the cost of Coastal Locations.  And they can receive substantially higher returns.

Mohit-

Picking ONE City… So many factors to consider.

What are Your GOALS..

• Cash Flow

• Market Value Stability

• Appreciation

• A Combination of these

• oCash Flow and Appreciation have an inverse effect

• oMarket Stability will provide Predictable Results, but Values & Rents remain flat.

A few Questions to consider:

• Is your evaluation standard Repeatable (i.e. 10-12% CAP Rate: Can you continue to find properties which meet this criteria?)

• Is this a short-term or long-term strategy?

• Can you Find a Team in the City YOU Trust?

My city, St Louis, MO is a city many feel to be an ideal place for Out-Of-Area Investors.

• Steady Rental Rates

• Fair Appreciation Rates (Don’t go up fast, Don’t go down fast)

• Good Mix of Business Industries (Financial, Defense, Service Industry

• Good Consistent CAP Rates