New Member, New Investor, St. Louis MO

18 Replies

Good morning everyone! I am a new investor in the greater St. Louis area. My husband and I are trying seriously to get into the business of flipping homes. My background is in finance and I currently work in the insurance industry. My husband has experience in many areas of construction and currently does mainly HVAC installation.
During my research I kept running across articles from Bigger Pockets and was convinced to join. Seems like a great community and resource.
I am very interested in any advice, tips, etc that the experienced members can provide as we are just getting started and still have many questions.

Thanks!

Ashleigh

Hi @Ashleigh Galucia ,

Welcome to aboard! We're so excited you're here and making connections. I highly suggest you to read, "The Ultimate Beginner’s Guide to Real Estate Investing". We wrote it with the beginner in mind. It's an excellent place to start, and can answer many of your questions. You are in the right place to learn all about real estate investing!

Hey @Ashleigh Galucia , you and your husband make a formidable team to start off in the real estate world. Your background will help you a lot on the numbers side of things, and your husband's experience will also pay dividends when it comes to any rehab work you might have to do or hire out.

Any advice you'll get will really depend on what you're looking to achieve in your investing, one flip a year, one flip a quarter, one flip a month, etc. Where you choose to house hunt will depend on the entry point you're looking for and the kind of financing you'll have available. Feel free to follow up here or reach out if you'd like to discuss this further -- always happy to talk shop.

Cheers!

Hello @Ashleigh Galucia and welcome to Bigger Pockets. BP is a great place to be for new real estate investors. It has everything you need including free online videos and educational courses for you to watch and learn from. Expect bigger expectations at Bigger Pockets! You came to the right place! 

@Peter MacKercher , thank you for your reply! That is very encouraging to hear as our goal is to have me handle most financial/transactional aspects of deals and my husband will be doing much of the repair work himself as we get started. 

To give you (and anyone else) a little more detail on where we hope to be headed. Eventual goal is to perform multiple flips per year once we are able to utilize more rehab help and also hold a few properties for rental income. As we are getting started, we will likely be owner occupying our first property or two while making the repairs and at least the first year or so probably only doing 1-2. While we both currently maintain full time employment outside of Real Estate, our goal is to change that in the coming years. 

Our desired area of focus is St. Charles County along with a few areas of St. Louis County. 

I greatly appreciate your reply and would like to keep in contact as we get started in the next few months.

Thank you! 

@Ashleigh Galucia You might be focusing on flipping, but you also mentioned owner occupy and buy and hold, so it's hard to not suggest house hacking if you're not considering that already. If buy and hold is anywhere on your road map then that's a great way to get familiar with the ins and outs of being a landlord, and it saves you commute time when issues pop up, and, extra icing on the cake, you can use FHA financing for up to 4 unit properties. You might already know that, but it's a sweet deal that can really help anyone starting out.

Keeping your day jobs will also help with financing to start as you build a portfolio/track record. Maintain great records about each property you're involved with if you're looking to make REI a full-time gig; without W-2 income getting financing is more difficult to secure, so those records will be very important down the road.

Hi @Ashleigh Galucia ! I'm in the same boat, a newbie living in St. Charles County with my husband. I'm in marketing and design, he is an engineer for a construction company. My goal is to start off in wholesaling, and move to flipping and buy and hold.

Have you been to any live meetings yet? I attended a Fasterhouse meeting on Tuesday which was super informative, and next Monday I'll be at the Southside Investment Club meeting, it should be a great networking experience!

It's actually one of their free workshops, so it may be advanced for you! I forgot it wasn't part of the monthly meetings. 

7-9pm

2310 Technology Dr, O'Fallon, MO 63368

Welcome Ashleigh Galucia,

Glad you joined. A lot of information on this site to help anyone from the newest to the seasoned investor.

I see in the threads talk of a Southside meeting in O'Fallon on Monday night! I go to Southside REIA as well as several others and did not know about the Monday meeting. Did they announce it at last nights monthly meeting? (I did not attend last night). If you could inform me of Where?, When? and What? it is going to be about I would love to go.

Thanks,

Mike

Hi @Mike Krigbaum , this is what I am going to. It's a free workshop put on by SSIC. It's on Technology Drive from 7-9. I think it's geared to newbies like myself, but I'm sure there's info to be gained for everyone!

http://www.ssiconline.com/free-real-estate-investing-workshop/#1

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