All Forum Posts by: LyNetta Hill

@Blake Jarrett Yea, maybe they were trying to flip it lol

@Jacob Ehrgott The same goes with St. Louis. This deal seemed really bad but since I'm pretty new at this I wanted to make sure I wasn't doing something wrong lol. 

@Travis Turnbull Yea that's been my ultimate decision is to find something else that provides sufficient cash flow. I want to make money not lose it. Thanks :) 

@Anthony Hurlburt Yea thats what I thought. I'm thinking maybe a lower, much lower, purchase price might make it be worth it.

@Travis Turnbull $750/mo is way too high though. Is there no way to get property taxes lowered?

Hey Everyone, 

So here's what I have:

I'm in the St. Louis area and the property I'm looking at is a 4 unit 2 bed 1.5 bath townhome asking price is $599,900, I'm assuming because of the many repairs it listed such as new roof, floors, kitchen and the list goes on. With the area it's in and all the updates I would assume the rent to be anywhere between $700-850. The property tax however is what's bothering me its about 9K (which could be completely normal but I'm not too sure). So I ran it through the BP calculators and well I have a negative CF of like $960 (YIKES!!!) Any who I would love to house hack but this doesn't seem like a good deal. Am I doing this wrong or is the price and the property tax just too high? I'm just not sure about this one so I would love some feedback and I'll provide whatever information I may have forgot.

Thanks 

-LyNetta H.

@Dmitriy Fomichenko

Hey thanks for the welcome & the information. It's really appreciated :). 

@Mark Nolan

Thank you :), I'm looking forward to learning.

Hello Everyone, 

My name is LyNetta I'm originally from Southern California but I currently reside in St. Louis, MO, Hazelwood to be more exact. I have absolutely no experience in real estate but I'm eager and scared to jump into this world. I have a 8 month old son who is my biggest motivation for wanting to invest. I am an accountant for a non-profit, and hopefully real estate can fund my masters degree so I can sit for my CPA. I came across BP by Googling "How to get started in real estate". 

That's just a bit about little ole me and I look forward to meeting new people :)

-LyNetta H.