All Forum Posts by: Donald S.

Hi Everyone,

On my current flip we are using a General contractor to conduct the majority of the flip and he pulled the permits and has pretty much handled the city on his own. However, in the future I believe I would prefer to GC myself for time management, expense management, etc... My question is, when doing a rehab, say a full gut, in the city of St. Louis or in St. Louis county, what licensing would I need to pull a general rehab permit? 

Alternatively can I just require my subs to pull their own permits for each part of the project? 

How would all that work? 

Thanks, 

Cheers!

That's a little over-simplifying things don't you think? The FHA-203k exists specifically to allow for value-add deals. It just may be harder to accomplish if you don't know an FHA approved contractor, but still doable.

Look up John Banjak, He is a real estate attorney in St. Louis. We've used him for private loans. Very good, and reasonable prices for whoever is flipping that bill (we paid it since we were the borrowers). 

Hey Ben, I'll send you a PM. Do you know how far from St. Charles city proper you are looking? Targeting student rentals, traditional SFRs, small multi, or larger multi? 
What's available in the St. Charles market is going to be more SFR with a smattering a medium and large multi's. Not a ton a duplex-quadplexes in the area, at least not nearly as many as in STL city.

Hi @Jason Baker, I'm in the Stl Market, south city currently and looking into mid-county and/or south county next year. For Property Management feel free to PM me, I know there's a lot of negativity on the site, but it mostly is the big PM companies that don't focus enough on small landlords, at least that's how I feel. I've been my own PM this whole year, and I've learned quite a lot. 

And if you're looking for an investors agent who knows what they're talking about, I'm getting my license now (should be here in a week or so), and my broker is very experienced in Real Estate investing, from duplexes to large multi unit buildings. 

Good Point Anthony. We've decided to decline her. 

@Thomas S. I always appreciate your opinion. Thank you for bringing me back to reality.  

Hi all, 

I currently have a 3 bed 1 bath apartment in a C or C- neighborhood that we're trying to get rented out. I'm realizing why people say it's harder to rent in the winter. Well I have an applicant who has evictions (2) on her record, one from 2012 and one from 2017. Normally that would be end of discussion, we don't rent to evictions. However she is now on a HUD program that pays for 90% of her rent, not Section 8 (or HCV as it is really named), but a similar program.

So my question is this: If an applicant meets your other standards, but fails the eviction standard, but now has the government flipping the bill for most (or all) of their rent, do you make an exception?  

I'm pretty sure the answer will be 'No', but I wanted to gather thoughts and opinions on this.