Hello! I'm wondering if anyone has any experience in investing, whether flipping or buy and hold, just outside St. Louis or St. Charles county lines. I'm talking about Franklin, Jefferson, or Lincoln counties in cities like Troy (MO), Washington, Warrenton, Arnold, High Ridge, etc. I haven't heard many discussions about those areas, but there are definitely nice areas that seems to be booming in some of those towns. The only drawbacks I can think of are being a little further out, so less options as far as contractors and vendors, and of course fewer buyers and less activity. I've come across a few deals and have passed them up because there are a solid hour from St. Louis, but maybe I should give them more thought.
Let me know if you have any experience or knowledge on this. Thanks!
Hmmm, where to start. Arnold is probably closer to downtown St. Louis than St. Charles. Many who live south of Arnold, in Imperial or Festus, work in Arnold. There are many contractors that live in the corridor south of St Louis county.
As far as Franklin and Washington counties, it is definitely more rural but then, many of them work in St Charles county.
Buyers are all over the place if you are fixing and flipping or doing lease options. The only problems you have in the areas you mentioned are the same problems everywhere. Sellers want retail and investors want wholesale. If you market they will come but it's gotten to the point where you have to cold call unless you want to spend thousands for marketing thereby requiring you to get the SFRs cheaper.
I have friends who do well in rural towns, but they live in those areas and either do the work themselves or have relationships in the area to manage/maintain them. I would want a relationship with a rockstar property manager and/or handyman in those areas. It's hard enough to find rockstar property managers in the city. I've heard it's even harder in rural areas where there is less competition to care for your investment.
Hello Scott, I do invest in some of the areas you mentioned, but as you stated, I REALLY Do not like the drive to go view, show, work, etc... the properties!