All Forum Posts by: Kyle Eckert

Awesome, looking to be a great turnout for our first time.

9/26, see the post for details

@Peter MacKercher

@Tim Carlson

Peter's advice is all well reasoned and well stated.  I would add a caution about using street view to visualize properties in shady parts of town.  Make sure to check the time stamp on the image for that street.  A lot of STL was added to streets in 2012 and hasnt been updated since.  The stability of these neighborhoods can change rather quickly and street view would not capture the degradation, or possibly the rejuvenation.  Having someone working with you in town would be very valuable to combat this effect.

That said, I would want a better return in that part of town.

Good luck! 

Not a problem!  Just FYI, the kitchen is closed Monday and Tuesday, so eat beforehand or grab a carryout pizza from Felix's down the street.

Trying to get a feel on a topic, so chime in! On a scale of 1 to 10, how painful do you find transferring utilities of a new property into your name? I find it super annoying, so I was wondering if it was just me. Thanks!

https://www.riverfronttimes.com/newsblog/2014/08/0...

Assuming there hasnt been a dramatic change since 2014, I would guess this article explains the reason.  The renovation of the interior of this building would be a monumental process with the mention of the tiny elevators and ugly lobby.  

That said, I think someone bringing this place to the 21st century and filling it with desirable people would be very helpful to the community/city.

As an alternative to the above advice:

Assuming all 3 properties are keepers, find a partner with the resources to get the properties up and running.  Not a lender, but someone who can get in there and get them producing income.  Give them a stake in the properties to compensate, win win for all.

@Mackal Smith The motivation behind aligning the leases had a few reasons:

1. If I had to pay someone to do something, I could bring them out once for both units.

2. If I signed a 1 year lease with both units, I wouldnt need to do any paperwork for the rest of the year.

Thanks for the input from everyone.  I ended up getting the bottom unit on a 6 month lease, ending March 1st and the top unit is leased unit January.  They will go month to month until May/June.  I will stagger them by 1 month to try to get the best of both worlds.

Meetup for those in and around STL looking for a look pressure atmosphere to meet local BP members.  No presentation, no sales pitch, no experts.  Just local investors looking to get to know other investors and hear about what is working for them in this market. 

Tamm Ave Grill

1227 Tamm Ave

St. Louis, MO 63139

Florissant, Hazelwood, and Bridgeton are all places I have been to or have family in.  I flind the trulia crime heat map useful for finding this type of info.  Also the STL Post Dispatch has a homicide map which is also good for getting a feel for how shooty a neighborhood is.

A demographic map would also come in handy but may be out of date as that data is usually compiled every decade and STL is changing fairly rapidly in places.