All Forum Posts by: Patrick Hill

@Naomasa Hase welcome to the scene. There is a phenomenal REI Happy Hour the last Thursday of the month with a bunch of great like minded people. The event is free and details can be found in the event section on this site. Reach out if you have any questions

@Chris Goodpaster there are a ton of great foreclosure properties out there if you look on the HUD store and Fannie's website in our area.

@Mari Leopold you will need to skip trace the owner and try to make contact so negotiations can start. Regarding rehab costs you will need to bring in a contractor to assist with estimates. You will need to pay close attention to the roof and foundation with these buildings and plan on $65-85 per square foot for rehab costs for budgeting purposes.

Hey @Peter Kozlowski , these situations can get ugly for sure. Although this is a specific question for an attorney it sounds like if the deadline for completion is set in the contract then you would have grounds for a case. The better option may be to fire him and pay what work has been completed, then retain another contractor to finalize the project. Ensure you get a signed statement from the existing contractor that his payments have been honored so that if he decides to put a mechanics lien on your property out of spite you have proof its been dissolved.

Hey Dustin, welcome to the mad world of investing. I’m local to the St Louis area and would like to hear your strategy and how I can help. I’ll shoot you a DM

Hey @Domenick Booker-Pomata I'm a local real estate agent here in St. Louis and work with several OOS investors like yourself. I'd love the opportunity to hear about your strategy and expectations. 

Hey John, it sounds like you're doing all the right things to get the house rented but obviously not knowing where your located $2400 per month for rent doesn't draw a heavy crowd unless its the norm for that area.Keep in mind there are a lot of "lookers" that come just to see what $2400 a month would get them if there are in a lower price bracket. 

If your house has any special features or something unique to offer, it would be a nice touch to personally guide them to those areas, otherwise allowing them to tour unassisted is commonplace for most Open Houses. For private showings, if the home deserves a private tour, give it to them. IMO you're selling yourself as a landlord as much as your house is selling itself as a nice place to live.

As Kathy mentioned don't rule out Craigslist, I would also recommend the following:

• add it to FB Marketplace
• check Trulia to see if Zillow feeds rentals to that site otherwise post it there if they allow rentals
• create an Instagram Post if you have a following
• create FB post and make it shareable
• run an ad on FB to get traction
• find a FB group in your area for rentals and post it there

Hey @Josh Prettyman congrats on the 12 unit deal. What areas are you considering as the city can be a mixed bag of good and bad from street to street. Most OOS investors stay away from North City which is anything typically north of I-44 and I-70 but there are still good pockets in those areas as well just dependent on the neighborhood. I haven't had to use an attorney but I can recommend PMI for the management side and I think Brian from Mogul Realty also manages properties if I remember correctly. He's active in the forum.

@Alexander Love continental title is investor friendly and should be able to handle a double closing. It may depend on how your funding the deal but they should help. I would call the Hampton branch. 

Jefferson County Code Enforcement Division at 636.  797.  5310.  

St. Louis City 314  622  3313

St Louis County current list https://www.stlouisco.com/Portals/8/docs/document%20library/public%20works/code%20enforcement/licenses/elect/Public%20Electrical%20Contractors%20List.pdf