All Forum Posts by: Ben Dao

If possible you just be the landlord . You just rent out the room separately. I have a friend that just has a house guest rules and policies sheet. He makes them sign it and posted the sign in the house. It says things like no loud music, cleaning procedures,etc. There is no lease so if they break the rules they get kicked out but no eviction because they were just a house guest.

There are quite a few management companies in St Louis. However, I have not found one that is super exceptional. But differnet companies could be good for one person but not necessarily another . Your property is in South City and a lot companies just deal with North County. But I like Your area and have rentals there also. Good Luck!

@Mike Xiao St Louis has high rents compared to home price. You can get rental property for under 100k and rent  for around the 2% rule. The job market here is strong with big companies such as Boeing, Budweiser, Scottrade, Edward Jones ,etc. . It is not a high appreciation market but for cash flow definitely one of the best markets in the US. Good Luck!

Very cool. Hard work pays off. But you got to pay the price in advanced

I live now in St Louis and it is a great cash flow market. I have a few multi- families here myself.

I am a believer in your first deal being a multi- family. It seems like the your interest rate is low. I love that it is in a B class area. I would just pay that HELOC off Asap . As always try to have a little reserves for unexpected fixes . But having tenants already can help delay those initial fix ups if any are needed. Good luck!

Would they pay 6 months to 1 year in advance? If so I would probably do it.

I agree that Section 8 is a great way to deal with North City. You get the rent automatically deposited. And if the tenants acts up, you can go to the case worker . Section 8 does inspect your property yearly though. They usually find things for you to fix. 

When this happens to me I just ignore them and stay quiet. I let them text me to have a record. I might answer a question or two. But any threats ,I stay quiet (very hard to bite my tongue)😡. Be the bigger person. Good Luck

Definitely have a notice in writing stating what the new rents will be an when they will go into effect. They will probably call you but just let them know this is fair market value. If they move that is fine. Seems like you can get it rented somewhat easily.