Trying to get my feet wet
9 Replies
Nicholas Richard Ray
from O Fallon, Missouri
posted over 3 years ago
Hey BiggerPockets community! Absolutely love this site and the content they post. I've only recently started scouring the forums as well which is packed full of information as well. I can't wait to use it all to my advantage to get going!
That being said my current focus is deal number one. I'm searching in St. Louis county for a small multi-family to owner-occupy and rent the other units. The supply isn't crazy here it seems and I've recently had a significant amount of my income (30-40%) start to come from tips. That's just a bit of where I'm at right now and I can't wait to network with the community further!
Todd Olivas
Investor from Yorba Linda, California
replied over 3 years ago
House hacking seems like a great idea, @nicholasRRay! Plus you'll be onsite to be able to property manage it directly as you get started. Best of luck in STL!
Account Closed
replied over 3 years agoWelcome! St. Louis has a ton of small multi families and south city St. Louis. They can range in price pretty dramatically though.
Megan Greathouse
Rental Property Investor from Saint Louis, MO
replied over 3 years ago
Welcome, @Nicholas Richard Ray . I agree, house hacking is an awesome way to get started! What areas of St. Louis county are you looking in? I personally haven't seen a lot of small multi-family properties in the county... I mostly see them in the city.
Vince Mayer
Wholesaler from Arnold, MO
replied over 3 years ago
@Nicholas Richard Ray Welcome to BP! You are located on the outer reaches of west St. Louis County. Are you planning on relocating to north or south county because that is where you'll find small, multi families.
Account Closed
replied over 3 years agoHello @Nicholas Richard Ray and welcome to Bigger Pockets. The road map for real estate investing success is right here. Connect with experienced investors, learn everything you can, and get deals done correctly. Congratulations, you came to the right place. I wish you all the success on your journey.
Nicholas Richard Ray
from O Fallon, Missouri
replied over 3 years ago
Thanks all for the replies! Just getting home from work now so I apologize for the delayed response.
@Todd Olivas - Thanks! I believe I'm in the right place to start and build my knowledge in order to get off on the right foot!
@Account Closed ","user_avatar":{"medium":{"url":"https://biggerpockets.s3.amazonaws.com/assets/avatar/no_avatar.svg"}}}" href="/users/AnthonyM239">@Account Closed - Thanks I appreciate it! Like I said before I definitely feel this is a great place to be for me to start on the right path!
Megan Greathouse
Rental Property Investor from Saint Louis, MO
replied over 3 years ago
@Nicholas Richard Ray , makes sense. I'm always watching South City for multi-families in solid areas. I really like Shaw, Tower Grove South, The Hill, Southwest Garden, Northampton, Southampton, Princeton Heights, etc. The trouble is, everyone else likes those places too, so prices are a bit high for me as an investor. But they might make more sense for you as an owner-occupant/house hacker. Best of luck!
Nicholas Richard Ray
from O Fallon, Missouri
replied over 3 years ago
@Megan Greathouse I think I'm likely gonna try to be in The Hill area if all goes well for me. I definitely feel the house hack is my only way to get a decent investment going especially if I can attain the FHA loan. I appreciate all your feedback. Also, in the spirit of learning and networking, do you mind if I shoot you a private message? I'm researching as much as I can but you seem like you would have a good feel for the area and what rents and such may be.
Megan Greathouse
Rental Property Investor from Saint Louis, MO
replied over 3 years ago
@Nicholas Richard Ray ... feel free to message me! I'm no expert, but I've been trying to study a few farm areas for a while now, and watching MLS listings, so I've learned a few things. Always happy to help where I can.
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