Getting Started in St Louis

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Getting Started in St Louis

Jeff Hartman
Member since 2019 · 2 posts · 1 vote

Hello All,

I am in St Louis area (west county) and am wanting to get my foot into real estate investing. I was interested in whether i should look to flip first or to invest in a rental. My goal is to build a business and be able to leave current job. I know this will not happen over night but would appreciate anyone's comments or thoughts on the best way to proceed. I have found BP to be a great source of info. I have flipped 2 properties years ago but was very lucky that the properties fell into my lap due to family. The appeal of a flip and potential for a quicker lump some return is nice but the long term of the rental has just as much appeal for the future. 

I will have roughly 80k-100k to start but would like to know what everyones thoughts are on buying cash or financing? I could ask a hundred more questions but would appreciate any info.

Thanks

Jeff Hartman

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  • Austin Andrews
    Real Estate Broker · St. Louis, MO · Member since 2018 · 101 posts · 85 votes
    7y

    Jeff, I am more than happy to help with any questions! Per the financing question, I would 100% finance if you are able to. There is no reason to put down 100k on a property when you can put down 20k, for examples. Sure, you have no note and you might cash flow much better, but you lose out on plenty of benefits and net worth growth from taking that approach. Feel free to PM me with any questions!

    1Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes
    7y
    Originally posted by @Jeff Hartman:

    Hello All,

    I am in St Louis area (west county) and am wanting to get my foot into real estate investing. I was interested in whether i should look to flip first or to invest in a rental. My goal is to build a business and be able to leave current job. I know this will not happen over night but would appreciate anyone's comments or thoughts on the best way to proceed. I have found BP to be a great source of info. I have flipped 2 properties years ago but was very lucky that the properties fell into my lap due to family. The appeal of a flip and potential for a quicker lump some return is nice but the long term of the rental has just as much appeal for the future. 

    I will have roughly 80k-100k to start but would like to know what everyones thoughts are on buying cash or financing? I could ask a hundred more questions but would appreciate any info.

    Thanks

    Jeff Hartman

     Welcome to the site Jeff. If you are doing a rental I'd recommend using financing. You can get 4x the properties. If you are flipping margins are tight in this market so i'd recommend buying cash if possible.

    1Reply
  • Jeff Hartman
    OP
    Member since 2019 · 2 posts · 1 vote
    7y

    Thanks Austin for the reply. I will definitely contact you when Im closer to making the jump. Appreciate the offer to help with questions.

    0Reply
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