All Forum Posts by: Ryan Sherring

@Jeremy Melloul thanks Jeremy. I may have frame that a bit ambiguously. I'm actually over $150 a month after accounting for vacancy, capex / maintenance. Appreciate the kind words of encouragement. Getting off the sidelines has been the hardest part...so far. 

First property purchased with a goal to continue. A bit about the deal:

SFH in a great neighborhood with excellent schools so I can expect (but never guaranteed) "better", longer term tenants. I paid $275k and can get $2400 per month as is. House has recently had a lot done (new roof, paint etc) but will need a spruce up in a tenant or twos time. I've been going off the 0.8%+ rule so $2400 / 0.8% =$300,000. Interest rate is a little higher at 7.5% and insurance is ~$80 a month. Mmm, what am I missing. Accounting for mortgage payments, insurance, taxes, maintaiance and a 3% vacancy I'm over by ~$150. Look I needed to get in the game after years of watching from the sideline so might have overlooked a few things as a first timer. What are your thoughts? What would you have done differently? Appreciate the constructive insights. We all reserve the right to get smarter.

@Jaycee Greene SFH anywhere in west county, Creve Coeur and MH. Duplex in and around Tower Grove park and surrounds.

@Jaycee Greene Hi Jaycee. Looking at SFR in the $230k - $280k. I've looked at 2 - 4 plexes but just can't make the numbers work but would consider. Wouldn't mind a bit of a fixer upper, I have a decent team in STL.

Is anyone investing in SFH in St. Louis? I lived there for 10 years and know the area well and still have family there. It's also a ~4 hour drive from where I currently live so although it's out of state, I feel like it's quite accessible to me. Would love to hear from any investors who are in that market. I'm looking at county vs city.

@Marcus Auerbach I love the grow wide strategy. I'm just starting out with $170k cash and ~$120k I can contribute annually through my W2. Plan is to buy 3 bed / 2 bath SFH in the $250k - $300k range. Ideally I can do this for 10 years and then manage what I've accumulated. Thoughts on my 10 year strategy?

Thanks for the insight. Areas I'm looking at are in good schools and from what I can tell, have longer tenants. One of the reasons I want LT rentals. Schools are very good and these would be entry level houses in these suburbs so will be easy to exit if needed. Ideally I'd hold them long term though. TBH, I'm not seeing any properties in this market that would give me $400 net. I'm factoring in 6% capex and 6% for maintenance. Also that PMI is ~$100 a month. I could go to 25% down and get to the $400 net. I have enough capital that I could potentially get 4 or even 5 this year in that price range. 2, maybe 3 if I go to 25%

First time buyer and ready to take the plunge and buy my first LT rental. Buy box is 3+ bed / 2+ bath SFH in the $250k - $300k range. Depending on the exact suburb rents will range from $2200 - $2600. I've been preapproved for a fixed 30 yr at 7.25% with 15% down. Aiming at ~$400+ gross so I can factor in maintenance / capex as we go. For all you seasoned investors, does this look good, decent or run like hell?