All Forum Posts by: Kyle Eckert

To follow up on the conversation and keep it rolling: I called the recorder of deeds office and asked how to check into any liens on a property through their office. She said that they cannot do a lien search, that is reserved for the title company. However you can go to their office and look it up yourself. However they may not record all of the liens, thus the need for the title company. I may try it out for the next auction on a few properties and I'll give an update of how it goes.

Saint Louis city is really interesting real estate wise, in my opinion.  Its is super hit and miss, with pockets of the city flooded with old, neglected house.  Right down the street, literally 2 blocks over sometimes, is a small business cluster which is flourishing and trying to reinject life into the city.  Along with the list Max provided, The Grove and Cherokee Street are also up and coming sections which are hot in this market.  These are tricky however and very hit or miss.  

I currently live in Dogtown and all the multifamilies listed here are wildly over priced. There are rehab properties available if you keep an eye out, they tend to go the first day it is available to investors. They will be in pretty rough shape though, but possibly good for BRRRR.

@Casey Mericle Thanks for the insight.  While I understand your concern, your stated reasons are exactly why I asked my question.

There were a large amount of people with lists recording numbers, bidding, etc.  They had a targeted approach and it was impressive.  I was just hoping to understand a little better how these pros were able to move with such confidence in a process which scares most people.

I went to the previous property auction from the city and I was astounded at the amount of people there.  I know there is a large amount of due diligence needed for these properties due to possible liens.  It looked like there was a few investors buying 10s of properties at a time, and one lady bought 6 properties on the same street, very purposefully.  I would really like to understand this process better.

If anyone is interested in meeting up and discussing the process, or needs an extra pair of hands to help with some aspect of their process, I would be very intersted in hearing about it.

I didnt read everything, but I thought I would give an alternative to selling the truck, sorry if it is redundant.

-Keep the truck, but drive it until the wheels fall off.  You are paying for the piece of mind that the bumper to bumper gives and theoretically should get 5 more worry free years out of it.

-Get a second job to pay off the truck faster.  Preferably doing something in real estate so you gain education while you wait.  That education will be more valuable than the truck.

-After paying off the truck, keep the 2nd job for 1 more year, save up a 20% down payment.  $25k is a nice starting point.

-In 3-5 years you can move out and keep investing.  House hacking would be a good move at that point.

Excellent input, thanks for the replies.  I was thinking along the same lines, but I like to see if I am way outside the box or not.

@Ted L. Thanks for the recent estimate, that's actually a bit lower than I was estimating, but I like to give a big margin of error.

For reference, a lot of the city houses in St. Louis are older brick homes, and a fair amount of the not-yet-rehabbed homes have radiators.

Does anyone want to argue on the side of the radiators?

Hello all,

In your experience when selling an older home rehab, do you find it a positive or negative to have a  radiators as the heating source?

Follow up: If you are installing  whole-home AC anyway, do you leave the radiators or install a furnace along with it and remove them?

I see a large number of foreclosure homes are heavily discounted on the mls. Do they ever actually sell near these points, or does the price get increased by the bank, bids, etc?

@Peter MacKercher Ha, nice find.  Good to get my questions answered so I can stop thinking about it.

U am not familiar with commercial dev, but your situation seems like some outlined over at strongtowns.org. They talk a lot about interstate development patterns and it makes for an interesting read.