All Forum Posts by: Aaron J Latal

I learned so much through the bigger pockets podcasts! Thanks to Brandon and all the hosts and guests so far! It was neat to get to watch Brandon growth and its been an inspiration to me knowing that he started as a normal guy and now hes moving on to more amazing things. I can't wait to see what's in store for my investing and the podcast to come!

At first I though it probably could appraise for 140k and at the same time I wasn't super confident it would sell quickly for 140k ... if you were going to buy it to BRRRR I thought it would probably have made sense and that's what I am assuming your plan is. After I looked closer I am less confident it would appraise for 140k, my totally unqualified appraisal is 100k +/- 10k. IDK hope that helps.

I have used David Melloway for some seller financing questions. I'm not sure if he does evictions, I can pass along his info if you PM me :-)

I use Propstream, you have to pay but you could get a free trial. then use steps in this video, 

to find the list of your properties. Filter by residential properties and select the multi type/s you want then include only free and clear. You will probably have to mail about 3000 to 5000 owners to find someone that wants to sell and will seller finance with terms that are reasonable. 

I have used a guy named David Melloway before and he's been great! I think you could find his info online and if not PM me :-)

Yeah, a duplex or quadplex with a FHA loan would be my advice too! What did you end up doing?

@Vanessa D Guzman, I'm a wholesaler in St Louis MO. I would agree with what people have said in the thread already. You don't need a 10 thousand dollar coach and it will probably be really hard to get started. Listen to the real estate rookie podcast "from restaurant waiter to 100+ deals in only 4 years with Derrick Acuff" do exactly what he did when he first got started, find a cheap list, hand write them letters, then face tons of people telling you to leave them alone and they don't want to sell their house then after some time (possibly 6 months like Derrick) you will find someone that wants to sell you their house and is fine with the fact that you're going to bring another buyer to actually close. 

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Saint Louis.

Purchase price: $183,000

Duplex that I rehabbed while living it it, I hacked that house!

How did you find this deal and how did you negotiate it?

Found it on the MLS back in the good old days!

How did you finance this deal?

FHA Loan

How did you add value to the deal?

Rehabbed the whole thing!

What was the outcome?

Sweet cash flow!

Lessons learned? Challenges?

If you are planning to rehab a duplex, plan to allow it to take up most of your time for a year. I didn't and my rehab took longer than I thought it would, almost 2 years! Also, if you are staining a wood floor, be careful with your oily rags, they actually can spontaneously combust and start a fire in your recently rehabbed kitchen...

I have had David Melloway recommended to me and have only been in some discussions with him about doing seller financing but he has been really helpful and is going to charge me a fair rate. I can send you his # if you PM me :-)

# 6 on most dangerous places in STL on this list! (https://www.areavibes.com/st.+...) I havent driven through there but havent heard of any developments near that area either. There has been lots of development around Central west end and skinker debaliviere areas recently/ongoing.