All Forum Posts by: Account Closed

@george paiva so you rent to the 1%? That must be nice:) I do take a similar approach to thinking about weeding out inelligible tenants.

@Duncan Taylor I think you've summed up the entire thread. I've started to notice that the predictors are pretty consistent among the tenants I've found.

Steve Babiak right on! I think that says it, "past tendencies."

Chris Sweeney my red flags are probably the same for most landlords - criminal history, evictions, poor credit and collections. What prompted my post was me thinking back on all the tenants that I've had and realizing that the only problems have arisen from tenants that made it through my screening process but that I had a slight reservation about.

I do my own leasing and screen tenants.

Unlike stocks, a tenant's past performance is a guarantee of future results.

(i.e. if there are red flags in their past, there will be red flags in your future if you rent to them. Or the opposite, good in the past = good in the future).

What do you think? Do you have examples?

Welcome @Jennifer Severado! St. Louis is a great place to invest, especially in multi-family properties. Once you get some experience under your belt, those larger buildings won't look so bad. I went from a duplex to an 8-plex and didn't skip a beat because of what I had learned with the duplex. Good luck!

Hello All -- good to see some St. Louis action on the forums. I invest in the city and have a few properties in the Tower Grove area. I plan to attend a SSIC meeting here soon, so maybe I'll meet a few of you in person.

For the newbies @Bill Morillo and @Kelly Miller (and anyone else for that matter), feel free to hit me up with questions. I've got a few years of experience doing everything related to running my properties and am happy to share what I've learned.

Hey, welcome. I started with a duplex and found it to be a great learning experience. Commercial properties are more complex in a lot of ways and you'll want experience before you get into that. It will make the learning curve that much shorter when you're ready to step up.

Simple question: is insurance required if you own a property outright?

Thanks for the replies! Interesting to know a bit more about this topic.

I'm curious to know if it is possible to use a 1031 Exchange to go from a non-owner occupied multi-family to an owner occupied multi-family. Are there rules prohibiting that?