All Forum Posts by: Robert Buchmann

Thoughts on townhomes vs single family homes in these communities?  Do the townhomes rent just as well?  Pros and cons of each?

Wayde, how are STR in Reunion? Have heard that it is hard to do well due to the high HOA and club fees...

St. Louis Bank.  Look for Dave McCartney.  They were excellent to work with and Dave is always on top of things.  Tell them I sent you!

Give Matt Skarin a call with the Skarin Agency.  He's a broker and will do a wide ranging search to find the best rates and coverage. Let me know and I'll share his contact info.

Hey guys!  This seems like a good thread to jump in on as I am also a newer investor.  Late last year I purchased my first multifamily in the south city area and am currently looking for another!  I'm currently managing the rentals myself so I can have the hands-on learning experience of property management with the long term goal of having someone manage things.  My main focus right now is learning as much as I can along the way and get that next property to add to my portfolio!

Closing on my first multifamily next week and plan to ultimately increase rents to market rates as they are well below right now.  All units are occupied and all are on month to month terms.  There are a few tenants that I'd be fine "pushing out" by notifying of higher rents starting x date, as they have not taken care of the units very well and I wouldn't be disappointed if they decided to leave.  However, I'm nervous in this covid era of pissing a tenant off where they refuse to leave and stop paying any rent!

What have people been doing when acquiring new properties?  How soon would you increase rents to fair market values?  My thought was to notify the tenants that I wouldn't mind losing that I'd be raising rents starting Feb 1.  Appreciate any suggestions!

Thanks!

I'm under contract on a multifamily in South City and currently looking at insurance options.  The first few quotes I got were a lot higher than I expected.  With most of the buildings in that area being 100 years old, it seems that my options are limited and cost is high.  What has other's experience been and is there a broker/agent you'd suggest I talk with?  Also, do you normally get a policy that gets you full replacement cost or actual cash value?

Thanks in advance for the info!

@Grace Hartman

What are your guys' thoughts on the Dutchtown area? Had a few leads on a couple four families but don't know much about that area. They'd be 1bed/1bath units and both require some partial rehab (a few have been updated and few haven't). Wasn't sure what the ARV would potentially be and what kind of rental rates to expect there. Just kind of diving in to look into things. Thanks!