All Forum Posts by: Sunny S.

The seller is not ready to lower the price because they also have cash offers.

As per my realtor comps, the market value of the property is 57K but the seller is selling it at 65K because of the rent it is generating. The location is at Berkeley, saint louis.

Hi,

The appraisal for a property at saint louis came back 15K down than the purchase price. The purchase price was 65k and bank appraisal came at 50K. This property is rented for 950$/month and cash flow per month is 350$/month ( after mortgage, tax and insurance).
Now because of the 15k less appraisal value, I will end up paying 25K down for this 65K property. Do you think its worth to go ahead with this property ? I think it take almost 6 years to recoup this 25K down and start building equity. Do I need to go ahead only because of the cash flow even though there won't be any appraisal for this property in the next 5 years?

Please give me your opinion and advice.

Hi,

I am planning to enter into real estate market of Saint Louis. I would like to get some opinions from experienced investors in Saint Louis regarding good locations, zip codes for purchasing a cash flow rental property. Also locations where I can get some appreciation.

Thanks in advance !

Iam looking to buy a multifamily in saint Louis. Would like to know any good turn key property provider in saint Louis or an investor friendly realtor or broker. Please give me suggestion based on your personal experience. Thank you

Any recommendations about this property management company ? It’s in Missouri, saint Louis

Propertymanage.biz/emeraldkey

@Chelsea Ziss Do you mean Toledo in OH ?

I am looking for an electrical contractor at quad cities location. Please recommend good contractors in the quad cities area. Thanks

Hi Russell,

Thanks  a lot for your response and I really appreciate it.

Do I need to do anything for the "Visible evidence of wood destroying insects"

But the inspector didn't find any visible damage due to termites.

Buying my first duplex and the inspector found some evidence of wood destroying insects

Other inspection reports:

Discoloration noted at roof sheathing

Joints in the masonry deteriorated and should be repointed

Efflorescence noted on basement surface

Concrete cracking noted which is common as concrete ages and shrinkage surface cracks are normal

Cracking visible in the garage floor

Garage wall had damaged dry wall

Do I need to be worried about any of the above inspection reports or these are normal and morning to worry about ? Looking for some advice.