All Forum Posts by: Donald S.

@Nik Moushon I've got a contractor info working with who said if I can find the land to do it, he can build duplexes 2x1, or 3x2 for 85-105/sf. Depending on how nice we want to go. But yeah, that'll be stick builds, not all brick buildings. And 600k to build a 4 plex in StL? Someone was high when they gave that price.

Hi @Jordan Schwartz feel free to send me a PM, I'd be willing to talk about the nitty gritty of the STL market with you. I invest in Bevo, just south of the Tower Grove area, and am looking in other parts of South StL. I'm born and raised here, so I know the areas to avoid. 

Originally posted by @Susan H.:

I showed a rental to a prospective applicant yesterday after she passed the pre-screening. Her story changed from "it will be just me" to "well my daughter lives out of state but may come back" to "my son's friends might want to stay." Then she went from "no pets" to "there is a shop kitty I take care of" (?) to "he wouldn't be here much." And she wanted a short lease because "I might want to change my mind." 

I had to hold back the giggles, though, when she stood in the hallway and said "There's no bathtub in the master bedroom." I just pointed across the hall to the bathroom (five steps away) which has a tub. Her response? "Well, okay, but I want it in the bedroom." 

 I've heard that the combination bedroom/bathrooms are becoming more popular, maybe it could help your property value lol. (this was all sarcastic)

@Cory Tasche I'm interested in learning more about the MHP sector to maybe one day get into those deals. Do you come to any local meetups? Feel free to PM me. 

From a quick google search:

"A Missouri mechanics lien may be bonded off. Under § 429.016(17), a lien may be bonded off by depositing a sum of money or a surety bond with the office of the circuit clerk. The bond (or the sum of money) must be at least 150% of the lien claim. Further, § 429.016(17)(2) requires that a Certificate of Deposit be signed by the circuit clerk, recorded with the recorder of deeds, and a copy must be sent to the claimant (among other requirements found in § 429.016(17 - 31) of the Missouri mechanics lien statute)."

Does anyone here use Quickbooks to book keep for others? I'm thinking of starting a small real estate focused bookkeeping company, and don't know if I could do that using QB or if I should get something else? Maybe a different version of QB? If anyone on here does book keeping for other investors please pm me, I'd like to pick your brain.

Originally posted by @Brian Beadle:

Originally posted by @David Cruice:

Agree.  No one manages your money better than you.  There's also no better way to learn the business from the inside out. Plus it can be a great source of deal flow!

 I do not disagree David. The only downfall of this would be the shift from managing properties to managing people. I feel many HNW investors buy properties instead of business because it is much easier to manage properties than people.  Your tudor style four-unit on the quiet cul-de-sac isn't going to drink on the job, steal toilet paper and embezzle quarters from the washing machines...

 HEY! Don't you tell me what my property is or is not going to drink on the job. Sometimes you just need a cold one. (pfft) Judgy much? 

:) All in joke. 

Originally posted by @Justin K.:

I tested Google voice and found it more annoying than anything. Being asked what number I wanted to call out from etc. got old quick.

I do give my tenants my personal cell number. Usually I'll allow it to go to VM and return the call when it's convenient or immediately if it's urgent. The only time this has been a problem is when my one tenant texts excessively asking when the plow company will be doing rounds during the winter months.

I've only used CL for postings and try to keep all communications through email. So far it's worked well for the handful of vacancies I've had in my 8 units.

 The ability to select which number to call from is an option in google voice, you can also select the option so any calls made from inside the GV app are placed with the GV # and calls from outside that app are made with your carrier #. I feel your "test" of GV wasn't very thorough (sic). But to each their own. 

Personally i use GV (Google Voice) for anything related to my business and my business email is the email associated with the number. If I take a vacation I can assign another phone to get the texts and calls for that GV # so someone who's in town will be able to handle the matter.  

@David

If you're one Miami north of Gravois and Chippewa, and west of Gravois plaza, you are in tower grove south. Now Miami is Tower Grove "far" south, but still not a bad area. You're correct though, it is close to a crime area (south of Gravois and east a few blocks), but I would invest there. Just be extra cautious with tenant selection. 

Good luck

I only do group showings. Usually a noon and 4pm on Saturday and a noon or 3pm on Sunday depending on my schedule. I may do showings during the week if I have time, but even then I'll try to have at least 2 or 3 people scheduled for the same time, too many people no call no show for me to be sitting around for an hour or 2 waiting on nothing. I had 6 people lined up for noon a few weeks ago, 1 person showed. 

Good luck with your first property.