Hi Saint Louis,
I have been a note and crowdfunding investor for a number of years and now and am looking to make my first rental investment here in St. Louis where I live. I am primarily interested in starting with a single family house and utilizing a good property manager. I have been looking at some small homes in the U City area in the 80-100k range that look like they would rent for about $1100.
Just wanted to introduce myself to other more experienced area investors and get any feedback from you all as to what is working or not working for you with single families in St. Louis. Any insight you have into what areas work best, which to avoid, if I'm way off with my numbers above, and any recommendations for realators and property managers that specialize in single family nvestments would be most appreciated as well!
Thank you all!
@Bob M. I'm a big proponent of multi-family properties vs. SFH. SFH can be easier once they're filled (market standard is that the tenant responsible for all utilities, while that's not the case with multi, by and large) but when you have a vacancy you're 100% vacant -- and that can hurt. Multis tend to be more robust income streams for that reason.
Feel free to reach out if you want to talk shop, always happy to chat.
@Bob M. Good evening bob I could help you get started with a few properties please dm me.
Hey Bob feel free to PM me, I have a great Realtor, especially if you're looking for more "rent ready" SFH (SFR? eh, either way).
Thanks @Peter MacKercher , I do understand that strong benefit to multifamily, I have looked at some multifamiles in the south city area, and may go that way down the road, but for now I am primarily interested in starting with a SFH.
@Donald S. , I will reach out to you for that realtor name. Thank you!
The advantage in my opinion with Single Family homes is the options that you have when you sell the properties as opposed to multi-family (which are great investments). At some point and time, either you or your heirs will sell your investment portfolio and single family homes provide you with several options as far as a buyer pool. (1) You can sell to another investor, (2) you can sell to an owner occupant and (3) lease purchase to your tenants. I am a huge fan of SFR! Good luck!
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