New investor in the St. Louis, MO area

New investor in the St. Louis, MO area

Real Estate Investor · Bismarck, MO · Member since 2014 · 45 posts · 8 votes

Hello folks,

Mike Franklin here. I've made a few posts already but I thought I should formally introduce myself.

I currently live and work in Peoria, IL but due to family considerations, my wife and I are trying to move back to Missouri. Regardless of when we make the transition, I'd like to get the ball rolling with our investment properties as I'm beginning to understand the numerous avenues associated with real estate for long term wealth accumulation and financial freedom.

I'm currently looking to buy small multifamily properties in the Midwest, specifically in or south of St. Louis, MO. (Arnold, Festus, Herculaneum, De Soto, etc) Does anyone have a property manager they would recommend that services St. Louis and the smaller towns south of the city? 

Also, my real estate agent has worked long hours showing me properties, but she tends to think more like a retail buyer than an investor, especially when I talk about allowances like vacancy, M&R, PM, etc. Should I continue to work with her and try to get her to understand the deal from the investor's side, or should I move on to someone who already has experience working with investors?

Thank you all for contributing to the wealth of knowledge I've already gained from BiggerPockets. I look forward to potentially working with some of you and being able to give back to the community as I gain more experience of my own.

Thanks,

Mike Franklin

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  • Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
    11y

    Welcome to BP @Michael Franklin Find and network with local investors using find feature! http://www.biggerpockets.com/meet

    Also, be sure to set up “keyword alerts” to notify the topics that interest you. 

    Wishing you the best!

  • Investor · La Crescenta, CA · Member since 2013 · 174 posts · 50 votes
    11y

    I think you really need to find an agent that is experienced (or specializes) in multifamily properties.  You want someone who can help you choose a good property, negotiate a fair price, and complete your due diligence.  

  • Investor · Saint Peters, MO · Member since 2013 · 106 posts · 12 votes
    11y

    @Michael Franklin Welcome to BP!   I have some experience with those areas,  Particularity with the Festus, Crystal City.  I also have a few Property Management contacts that you could reach out to.  Send me a PM and I'll forward you the information.  

  • Wholesaler · Arnold, MO · Member since 2013 · 348 posts · 183 votes
    11y

    @Michael Franklin

    Hi Mike. I'm born and raised in Arnold. Message me so we can converse.

  • Investor · Burlington , VT · Member since 2014 · 39 posts · 10 votes
    11y

    @Michael Franklin

     Welcome to the site! 

  • Wholesaler · Wentzville, MO · Member since 2014 · 155 posts · 56 votes
    11y

    @Michael Franklin

    Hi Michael! Welcome to the site, I grew up in the Herky, Festus, Crystal City area. Those areas are growing new so you should have some good opportunities there. 

    Good luck on your investments and if you move back to Missouri check out some of the local REIA meetups, i belong to a couple of them and they have great people and information.

    Travis

  • Professional · Carlsbad, CA · Member since 2012 · 12k+ posts · 1k+ votes
    11y

    @Michael Franklin

    Welcome to Bigger Pockets. Consider sending messages to other members which is my favorite part of the website.

  • Real Estate Investor · Bismarck, MO · Member since 2014 · 45 posts · 8 votes
    11y

    Thank you all for the warm welcome!

  • Investor · Cedar Rapids, IA · Member since 2013 · 494 posts · 407 votes
    10y

    @Michael Franklin I just searched the site for Festus since I'm from Crystal City originally. Are you having any luck with the multifamily investing in the "Twin Cities" ? My brother in law lives in Arnold and is wanting to get his feet wet in REI.

  • Commercial Real Estate Investor · Plano, TX · Member since 2014 · 8 posts · 2 votes
    10y

    Welcome Michael 

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