I am a newbie looking to invest in my first buy and hold rental property in this area, since I live in the area and can manage it being close. As I learn to "run the numbers" I am finding many houses that are extremely affordable, meet many of "rule of thumb" criteria and are close to turnkey. I'm still learning how to read the market for this area (occupancy rates, rental % vs actual units, etc) and am wondering if anyone has found success investing in this area?
I know many investors having success in north county.
@Kerry Cissell welcome to the site! It's great to have you here. Feel free to ask any questions in the bigger pockets community! Good luck!
@Kerry Cissell I’ve spoke with a couple people that know investors succeeding in the area.
I just got a property to rehab and rent once it’s done so I’ll see more into that question after rehab. One reason I pulled the trigger was knowing that people can make it work in that area. Another is the specific location - STL is block by block realistically so you have to find the good pockets to minimize your risk.
Past that stay true with your numbers, screen your tenants thoroughly and be prepared to evict if need be don’t push it off. Hope it helps and good luck!
@Kerry Cissell I work in property management and have leased houses all throughout North County. I've seen many owners flourish but have also seen others drown in the unexpected high turnover costs. St. Louis is highly driven by its school districts. Once determining school districts you would like to invest in, I would then break it down by neighborhoods. That is how block to block north county is. If you have any questions on specific locations, pm me.
I'm really interested in the Lemay Affton area. I don't currently have a rental there, but am actively seeking one. I believe you can still have aggressive numbers, higher safety, and better schools than other parts of St. Louis.
Might be worth looking into.
Are people also having success in Carondelet, just north of there?
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