Overland Park, KS · Member since 2016 · 11 posts · 2 votes
Hey Everyone!
Was curious on what the thoughts were on St. Joe as an investment market? It seems to me that its a tired city with little growth, but I have found the rental numbers to be pretty decent. Does someone have a lot of experience investing in the city?
Investor · Portland, OR · Member since 2017 · 182 posts · 115 votes
8y
Hi! I own Donna Farrow & Co and we manage hundreds of units. Feel free to give me a call...
In short form. This town is unlike anything many people have seen and can be tricky investing wise. Based your projections heavily on cashflow, and not so much on appreciation (3% or less over the past 50 yrs)
Investor · Portland, OR · Member since 2017 · 182 posts · 115 votes
8y
Hi! I own Donna Farrow & Co and we manage hundreds of units. Feel free to give me a call...
In short form. This town is unlike anything many people have seen and can be tricky investing wise. Based your projections heavily on cashflow, and not so much on appreciation (3% or less over the past 50 yrs)
Rental Property Investor · Omaha, NE · Member since 2014 · 2k+ posts · 3k+ votes
8y
I have been looking at MLS listings in St. Joseph lately as well. It's a cash flow market for sure. Lots of very inexpensive properties. It reminds me of Leavenworth County on the Kansas side (I'm from KCK).
Saint Joseph, MO · Member since 2018 · 401 posts · 244 votes
8y
Hello, I live in St Joe and am just getting started. Like Benjamin said, cash flow will be king in this town. Good news is there are tons of affordable multis on the mls, but I have been driving around eyeballing a lot of nicer stuff that isn't for sale...yet. Feel free to hit me up if you have any questions about the areas you are looking at. I can always creep by.
Ryan
I get leads from very motivated sellers there quite often, but not really anyone to refer those leads to.
I would love to eventually be a buyer. That being said, I could probably link you up with a cash buyer, dependent on what kind of deals you are fostering. Would love to speak to you more about it. Thanks
Kansas City, MO · Member since 2018 · 17 posts · 2 votes
8y
With the drug and theft issues in saint joe I think its a very risky investment personally. That being said if the tides shift, saint joe could be a good long play.
Saint Joseph, MO · Member since 2018 · 401 posts · 244 votes
8y
There are some drugs and theft, I've lived in gritty joe for 36 years so I'm going to buy some stuff up and let it ride. There are some very nice areas as well.
@Ryan Proffit I’ve seen the multiunits on the mls—what are some guidelines for the “good” areas? I’ve only been there to play college ball
To be honest, this town is like a checkerboard. There are only a few horrible areas as far as streets I wouldn't hang out on. If you find a good deal and go section 8, I think you will be ok. If you have any in question, jut send me a message. I basically drive from one end of town to the other for work.
Investor · Portland, OR · Member since 2017 · 182 posts · 115 votes
8y
If you are banking your returns on a Housing (Sec 8) type tenant--- just be factor in an eviction, new carpet, paint etc every 5-7 years into the pro-forma. The issue with St. Joe is finding quality tenants not properties.
Investor · Longmont, CO · Member since 2016 · 185 posts · 156 votes
8y
My company does work up in St. Joe and Every time I drive through there I think man this market has some potential. But we did a sewer interceptor a few months back... either the whole city is diabetic or has a huge drug problem as we found a 40 'x 40 ' hole (bottom of connection on interceptor) full of hypodermic needles. I've also seen the contractors up there, a huge lack of quality and professionalism by 97% of the ones I've ran into. So for me, until it starts to turn around a little I'll avoid it.
I would consider college rentals though as that could potentially be lucrative and less prone to the hard drug user issue. Though lack of quality contractors is still going to be a potential issue.
Investor · Branson, MO · Member since 2016 · 101 posts · 146 votes
8y
I am an out of town investor in St Joe. I agree with the previous posts that say you have to know the neighborhoods. I studied the market and talkd to investors for 18 months before I pulled the trigger. Cash flow potential is incredible. If you know where to look, the 3% rules definitely come into play.
Investor · Saint Joseph, MO · Member since 2016 · 69 posts · 23 votes
6y
@Luke Ryan I live and invest in Saint Joseph. Property is affordable and the rental market here is great! We have 3 single family properties now and will be looking for multi family properties in the near future. Are there bad areas, of course but that is anywhere you invest. I would be happy to provide more information. If you would like to shoot me a message I can answer questions about the area.
Investor · Saint Joseph, MO · Member since 2016 · 69 posts · 23 votes
6y
@Kim Tucker if you have investors wanting to sell please keep me in mind. We currently have single family properties but would like to get into small multi family and eventually build up enough cash to invest in a larger apartment complex! But for now small multi family is what we are in the market for.
Architecture drafter · Kansas city, MO · Member since 2018 · 59 posts · 24 votes
6y
I know its an old post, but I messaged you @Tiffany Smith I have a duplex in st joe I either want to rent out the top unit or sell it completely, also looking for a realtor to list the place to rent. encase an agent searches ( St Joe)
Investor · Saint Joseph, MO · Member since 2016 · 69 posts · 23 votes
6y
Hi Ali, I apologize for the delay. I don't always see these messages on BP for some reason. Are you still looking for information on an agent or still wanting to sell your duplex? I have a couple of recommendations for agents and may be interested in your duplex. My personal email is Tsmith8228@yahoo.