Updated almost 10 years ago on . Most recent reply
Why St Louis, Missouri? Turnkey, Buy & Hold or Fix & Flip
BP: Your insight would be helpful.
I am teaching a series of classes for Real Estate Agents. I'm looking to expand there collective thinking about provided High Level and valuable service to investors. I like to show them some of your responses and experiences in the St Louis Market.
A few questions:
Are you investing in St Louis Metro area?
Are you buying:
- Turnkey
- Buy & Hold w/ tenant
- Buy & Hold - Rent Ready - No tenant
- Fix & Flip
- Fix & Rent
What have your been your experiences investing in St Louis? The Good, The Bad & The Ugly.
How do you find properties?
How many properties do you own in St Louis?
Thank you for your comments in advance!
Most Popular Reply
Are you looking for perspectives from agents as well as investors? As an investor I've picked up a fix as well as a near "turnkey" for rent through the MLS. I only own 4 doors atm, but as an agent I've also helped people looking to purchase fix and flips.
This is only my perspective, but for the metro area really should be broken down into smaller areas. The St Louis City market is VERY different than St Louis County or St Charles County, yet are all part of the metro area. The truism "all real estate is local" is especially important here. In the City, where I specialize, the highly block by block market means you need a lot of highly localized information to understand the market dynamics. It's one of the few major metro areas Zillow lists, but doesn't include any details about how accurate the zestimate is http://www.zillow.com/zestimate/#acc.
I would recommend anyone interested in working with investors spend a lot of time also getting to know the local law. A few recent examples important to any buy and hold investors:
St Louis County has recent legislation important to landlords http://www.stltoday.com/news/local/govt-and-politi...
This year the City changed the law so Section 8 vouchers must be accepted as an income source http://www.stlamerican.com/news/columnists/guest_c....