New member and investor from Saint Louis, MO

Saint Louis, MO · Member since 2016 · 7 posts · 2 votes

Hi, I'm just getting started in real estate investing, and I'm excited about this site and what it has to offer. I've been reading and listening to podcasts about the subject and am now ready to jump in and start making some mistakes but learning along the way. Here are my short-term action items: 1. Join a local REIA 2. Work with my small group (4 investors) to locate and finance a property to flip OR buy and hold based on the deal we find. The challenge right now is finding the financing for this first deal, so I'll be looking for articles on here for advice. 3. Sell my current house and buy a multi-unit as my primary residence. I want to live in one unit and reduce (or eliminate) my mortgage payment by renting the other(s). That's where my focus is at the moment and I can't wait to get started!

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Brandon TurnerPro Member

Investor · Maui, HI · Member since 2009 · 13k+ posts · 3k+ votes

10y

Hey @Matthew Ban thanks for jumping in and introducing yourself! If you haven't yet- be sure to setup some "Keyword Alerts" to get into conversation in your target area.

Seeya around!

Podcast Guest on Show #92

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Brandon TurnerPro Member
Investor · Maui, HI · Member since 2009 · 13k+ posts · 3k+ votes
10y
Hey @Matthew Ban thanks for jumping in and introducing yourself! If you haven't yet- be sure to setup some "Keyword Alerts" to get into conversation in your target area.
Seeya around!
Podcast Guest on Show #92
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Dave VisayaPro Member
Moderator
Audio Engineer and Investor · Cebu City, Cebu · Member since 2013 · 7k+ posts · 881 votes
10y
Hey @Matthew Ban, welcome to the site! Here are some good places to start: http://www.biggerpockets.com/meet- find and connect with other BP members that are in your area.
http://www.biggerpockets.com/alerts - Set up keyword alerts to be notified of the topics that interest you.
And, of course the
http://www.biggerpockets.com/forums - ask any question about real estate!
See you around!
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Ben Dao
Rental Property Investor · Saint Louis, MO · Member since 2016 · 123 posts · 84 votes
10y
I do think living in a multi-family is a great way to start. You can usually live for free and get some experience managing tenants.
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Peter MacKercherBusiness Member
Residential Real Estate Broker · Saint Louis, MO · Member since 2014 · 1k+ posts · 567 votes
10y
@Matthew Ban Welcome to BP! I love your attitude ("Make some mistakes but learning along the way"), it's spot-on. You'll see a lot of folks here mention the cost of education; that extends to those mistakes, most certainly, and not just what you pay to sit in a classroom.
I'd say check out multiple REIA groups. St. Louis has a number of good ones, I host one myself too, so the more you can learn from other folks who are operating in this market the better.
Are you looking to move into a multi-family house hack and pursue the deal you mentioned with your partners at the same time?
Anyway, welcome again and feel free to reach out if you have any questions you'd like to run by me. Always happy to talk shop.
Cheers!
[email protected]
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Matthew Ban
OP
Saint Louis, MO · Member since 2016 · 7 posts · 2 votes
10y
Thanks everyone for the welcome and comments. Peter MacKercher
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Matthew Ban
OP
Saint Louis, MO · Member since 2016 · 7 posts · 2 votes
10y
Sorry, I'm getting used to using this on mobile... Peter MacKercher The timing on everything will just depend on how much I can get done. If I end up doing both at the same time, if I have the means, then that works for me as both are projects that I'm motivated about. My current house will take me some time to get ready to sell, so most likely I'll be pursuing a property with the group first. That's exciting to hear that St. Louis has a few groups available and I'll be looking into those shortly. Thanks for the reply!
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Adam Rothweiler
Denver, CO · Member since 2016 · 78 posts · 14 votes
10y
Hi @Matthew Ban and welcome to BP! I'm a newbie investor and I've shifted my focus down from St. Louis city to Jefferson County where home prices are much lower and rents are still good. I also love the idea of house hacking. I can't think of a better way to get a crash course on landlord-ing. If you want to talk or meet up sometime, get a hold of me! I'm always looking for people to talk goals with! Again, welcome, and happy investing!
@Peter MacKercher I'm definitely looking for house hack opportunities on multi unit properties. As a tenant/owner occupant, I love south St. Louis and want to live closer to the city but I don't think building a rental portfolio in that area is what I'm looking for. I'm currently trying to build up some cash through wholesaling down south to get my foot in the door, considering I'm 22 with little to no capital, let alone a credit history long enough to be considered for traditional financing. I do believe my only option is to acquire my first house hack through owner financing. I hate to just come out and ask but if you know of anyone looking to get rid of some of their properties and would be open to a seller financing conversation, I'd appreciate it if you kept me in mind! Of course if there's any favor I can return to you just ask and I'll do my best to help you out. I'm driven and constantly educating myself on BP and other sources, always looking to contribute.
To all: There's tons of investors and professionals in St. Louis and our market is great! If anyone wants to talk, needs some sort of referral, or just has any questions I may be able to answer or help you find the answer for, contact me! Well wishes to you guys, hope I'll see you all around!
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