All Forum Posts by: Patricia McPherron

Thanks! @Chris Sellers @Bjorn Ahlblad @Matthew Baltzell @Will Coleman

@Max Householder it's in Grand Center not too far from The Fox & SLU. I was born and raised in St. Louis and the market there is more affordable than SLC.

@Sean Eads purchase price was $185K for the 3 units (2,600 sq ft per unit, each unit being 4 bdrm). We put down 25%. We ran rent on the lower end for $3,600 income (current tenant paying $1,200, average is $1,800) with expenses being about $2,400 (pulling out 8% each for vac/repair/capex/management as it's a large old building). 11.58% ROI, 12.67% cap rate, cash flowing $1,200/month if we rented all at the lower rents.

@Michael Doherty we've used conventional loans for all our properties so far.

Just closed on our first multifamily yesterday, a large triplex in St. Louis! That quickly moved us from 2 to 5 units! After closing on a SFH in the fall, we didn't think we'd be doing it again times 3 six moths later (originally we planned on another SFH later this year). We're excited for this new adventure and lessons we'll learn with this 133 year old building.

We're already looking to go bigger next time.  Guess I'll have to start learning about how to buy commercial!

@Anuj Anand Yes, we have a property in St. Louis, maybe also a triplex if the inspection goes well today. The property we have there currently is with WC. With the news of the transfer & not much info, I called Renters Warehouse last week and talked with I believe his title is Marketing Manager out of KC, currently covering the STL area until they hire in STL. I had him send me a copy of their Lease Agreement, Management Agreement, and Tenant Placement Agreement to compare to WC and see what we can expect for new properties/renewals. He also told me they are opening a 2nd office in Chesterfield which is where the WC portfolio and new business will be handled.

Hi @Brett G.,  congratulations taking action and hopping into the community! So much knowledge and assistance here.

Good luck acquiring your first property soon!

We have the board game & play with friends, our teenagers, or just me & my husband. We love it.

We have a joint savings account for REI and business accounts together, but several separate accounts for personal and household expenses. After being 100% merged with my first marriage, I just can't do it again.

Welcome to BP Kristin and Brandon! 

2018 is a great year to become official rental property owners!!!

Welcome to BP @GC Vaghasia! 

I have to agree with you that BP is addicting. There's so much information and so many people with varying experience to learn from.

You've stumbled into a great place!