Buy and Hold In Missouri

21 Replies

Hello,

I have been doing a lot of research on buying duplexes-fourplexes. I think that I have a good basic understanding, but I'd like to learn more about my specific ares: Springfield, Nixa, Ozark, Branson

I plan to go to local REI groups. What are other good resources for determining the following for my area?

Laws that landlords need to know

How rentals are doing

Section 8 laws/requirements: This appeals to me because I'd love to be able to help others while making a profit. Win win

Good resource for rental agreement templates

Also, any other area specific advice would be great. My goal is to create a better life for my fiancé who grew up hard. If I can do this by helping others then that would be ideal.

Welcome neighbor!

Your questions would take awhile and they are varied, so our local area might be better understood over coffee or other beverage sometime.

You had some magic words there, so, you're my guest and  I'll buy! You can PM me.

Happy Thanksgiving! :)

Medium logoscopiccroppedblue2Bill Gulley, General Real Estate Academy | https://generalrealestateacademy.com

I've never met @Bill Gulley  but my understanding is that he has more RE knowledge and experience than anyone around here. So, take advantage of his offer - that's a golden opportunity.

The Springfield REIG is a great place to make contacts and get some knowledge/help.

If you are interested in a different niche then I can introduce you to what I'm doing down in Branson.

maybe google Missouri Landlord Tenant Laws?

BTW I heard they have some good deals in Ferguson.

@Ron Drake  I was going to look at a commercial property in Ferguson, supposedly cheap, but it has a high carbon content and mentioned some rehab was probably needed, don't know, sounds fishy to me. 

Thanks Anthony, but there are folks here who I learned from as well. :)

Medium logoscopiccroppedblue2Bill Gulley, General Real Estate Academy | https://generalrealestateacademy.com

Originally posted by @Anthony V. :

I've never met @Bill Gulley  but my understanding is that he has more RE knowledge and experience than anyone around here. So, take advantage of his offer - that's a golden opportunity.

The Springfield REIG is a great place to make contacts and get some knowledge/help.

If you are interested in a different niche then I can introduce you to what I'm doing down in Branson.

I am definitely taking advantage of the kind offer. Can't hardly wait to see the possibilities. 

Well, we had what I thought was a good meeting, sent them off with a mission to learn and we'll be getting back together, great kids ..... I mean young starting adults! It was fun. :)

Medium logoscopiccroppedblue2Bill Gulley, General Real Estate Academy | https://generalrealestateacademy.com

Any changes to the original plan? Still leaning towards duplexes/quadplexes and section 8?

@Bill Gulley  

My end goal is still to provide housing for section 8. I understand that I may need to do other deals prior to providing section 8 housing successfully. The last thing I want to do is ruin a person's life because of my lack of understanding/experience/funds.

@Phillip Tillotson  

Enjoyed meeting you two as well. You can now attest to the fact that I'm a real person, devilish handsome and even personable on BP!.....LOL

Don't worry Philip, you'll know most than most in short order and you'll be prepared to hit the streets in short order.

I'll meet with you again in a more educational setting to review your assignment. Then we will hit financing and local markets and develop various strategies to put you into some money! You can call me anytime......well, almost anytime LOL :)

Medium logoscopiccroppedblue2Bill Gulley, General Real Estate Academy | https://generalrealestateacademy.com

Woah wait.. @Bill Gulley  is a real person?.... I thought he was just a legend/myth around those parts O.o

@Anthony V.  

  while Bill is a fountain of information there are many on this site that have as much knowledge in the buy and hold space as Bill would have... No one on BP is the TOP Dog or the hands down smartest dude... But Bill is right up there for sure.....And of course you will always know were Bill stands he does not suger coat it to make anyone feel good.

Medium ksqoekox 400x400Jay Hinrichs, TurnKey-Reviews.com | Podcast Guest on Show #222

@Jay Hinrichs  I see you are from Oregon. I know that there are many extremely smart and experienced people on BP. However, Springfield and Ozark are next to each other, so, Bill is practically next door to Phillip. That's why I said "around here".

Gothcha it was a minor attempt at humor... WE all know Bill is the MAN

Medium ksqoekox 400x400Jay Hinrichs, TurnKey-Reviews.com | Podcast Guest on Show #222

LOL, and taken that way Jay, just kidding too.

Thanks Anthony, we'll have to the bricks sometime too.

There ya go Philip, that's the way to butter up the instructor, LOL

I sure don't know everything in RE, I just don't have time for that.

The goal should be know enough about various aspects and then realize you don't know and then how to find what you don't know.  Learning never stops.   :)

Medium logoscopiccroppedblue2Bill Gulley, General Real Estate Academy | https://generalrealestateacademy.com

Originally posted by @Anthony V. :

Any changes to the original plan? Still leaning towards duplexes/quadplexes and section 8?

My purpose is not to change his goals but to point him the direction to achieve them, what ever they may be. The reason I jumped in was his Sec 8 thinking.

Some markets are tougher here, fix and flips can be done, but not tons to do, wholesaling isn't great with a couple thousand + Realtors and limited inventories. LOs are out there, Sub 2, tired landlords are still out there, still some short sales, rehabs and construction is getting better. It's claimed that half the SFDs in the city are lease/rentals. Great need, as always, for affordable housing.

What ever they want to do they can do with a support team. It's up to him/them.  :) 

Medium logoscopiccroppedblue2Bill Gulley, General Real Estate Academy | https://generalrealestateacademy.com

Originally posted by @Bill Gulley :
Originally posted by @Anthony Vesa:

Any changes to the original plan? Still leaning towards duplexes/quadplexes and section 8?

My purpose is not to change his goals but to point him the direction to achieve them, what ever they may be. The reason I jumped in was his Sec 8 thinking.

Some markets are tougher here, fix and flips can be done, but not tons to do, wholesaling isn't great with a couple thousand + Realtors and limited inventories. LOs are out there, Sub 2, tired landlords are still out there, still some short sales, rehabs and construction is getting better. It's claimed that half the SFDs in the city are lease/rentals. Great need, as always, for affordable housing.

What ever they want to do they can do with a support team. It's up to him/them.  :) 

Yep, I understand. I don't know the market of Springfield at all since I've been focused on Branson. I'm just curious if he had changed any plans or expectations based on new information you had given him.

sorry for reviving a probably dead thread, but this post had a lot of potential content that nearly exactly pertains to my goals.

I am military living out of state, but lived in SPFD and have family in town. I am deploying this summer, and want to take the plunge and send the wife back home to buy and live in a multi-family while i am deployed (she would only be living in it for about 8 months).

I would love to go the meet up on the thurd tuesdays, or meet up with one of yall, but alas, I can not.

I have seen some duplexes asking for 80-100k and could probably rent both for 1.2k. seems to be quite a few of those out there. Am I missing some sort of major piece of the puzzle or something? How is the buy and hold rental market in springfield?

I would love any of yall's feedback.

sorry for reviving a probably dead thread, but this post had a lot of potential content that nearly exactly pertains to my goals.

I am military living out of state, but lived in SPFD and have family in town. I am deploying this summer, and want to take the plunge and send the wife back home to buy and live in a multi-family while i am deployed (she would only be living in it for about 8 months).

I would love to go the meet up on the thurd tuesdays, or meet up with one of yall, but alas, I can not.

I have seen some duplexes asking for 80-100k and could probably rent both for 1.2k. seems to be quite a few of those out there. Am I missing some sort of major piece of the puzzle or something? How is the buy and hold rental market in springfield?

I would love any of yall's feedback.

Greg

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