All Forum Posts by: Andre Taylor

I agree with @Paul Welden on the 203K loan; especially working with contractors that have been through the 203 process. Be very hesitant of any contractors that have not done the 203K loan process because things will get difficult down the road when it takes a while for the payout to happen. You can also talk to a small bank about their construction loans which can be similar to a 203k loan but the process in getting funds are much faster.

I agree much easier to sell a property when it is vacant also your pool of buyers grows as you have people looking to do owner/occupied. I would say move them up...spruce up the place to get more.

@William Jenkins  thanks for your thoughts... I guess in a few hours if tourism spikes in STL there could be a big need for Airbnbs. @Chris Fillingham I know some people doing it in the county not sure what roadblocks that had to get over but county usually have stricter rules then the city

yeah I am seriously considering keeping my single family duplex that I am doing a rehab on in gravois park and turning it into an Airbnb; just curious if STL gets the traffic where people are making good returns on Airbnbs

I agree with @Aaron K. have the sellers do the repair and provide you the warranty from the company and make sure their roofing company is a credible company and that they will allow the sellers to transfer the warranty over to you

Any Local STL investors doing Air BNB? What are your thoughts is there enough traffic to be profitable?

what does it say in your lease? Typically you have to give a tenant 24 hours notice before entering the unit; now if that is spelled out in the lease and she refuses to let you in then call the cops the moment she said she was out.. I would had ran over and change the locks but sounds like she was trying to get the money without moving out.

It is very challenging unless the tenant is willing to go live somewhere for a short time it is really difficult because they will get annoy with living in the midst of construction unless you work out some incentive with them .

I dont like the wholesalers who provides inaccurate numbers and have no sense of the market.

To piggy back off what the other investors stated communication is the key. Just sitting down and establishing your guidelines with your tenants and your expectations will make it easy. I live in one of my 4 units with my tenants and they dont knock on my door they still follow the protocol in contacting me for any issues.