All Forum Posts by: Vasudev Kirs

I placed offers on few properties and was outbid on all of them. I am interested in seeing and understanding the trend and thought i could see the price for which a property sold but to my surprise none of the marketplace sites like zillow, redfin, realtor etc are showing the sold price. I tried looking up on the City web site but could not find either. These properties were sold a couple of months ago so the possibility of them still being in pending state is remote.

Any pointers?

Thank you!

0 Votes

Quote from @Account Closed:

Quote from @Vasudev Kirs:

Hello,

I have been looking for single-family/multi-family for investment for past few months but having no luck.

1. Does anyone know if buying a lot is a good investment option?
2. Do they appreciate?
3. I understand zoning is important and some of them are zoned for multi-family and others single family. Do builders prefer buying lots and building?

Any gotchas or red flags I need to consider?

Thank you!

The value of land tends to appreciate over time, but this is not a given; the value of some lands may remain unchanged or even decrease. If you're considering investing in land, you need to do your homework thoroughly, understand market trends, assess the potential value of the property, and also take into account various potential risks and issues such as ownership rights, usage restrictions on the land, development costs and so forth. Whether buying land is a good investment choice does not have a simple answer because it depends on many factors

Thank you @Account Closed for sharing your insights - very helpful.

0 Votes

Saint Louis, Missouri

Hello,

I have been looking for single-family/multi-family for investment for past few months but having no luck.

Any gotchas or red flags I need to consider?

Thank you!

1 Vote

Saint Louis, Missouri

Quote from @Bryan Montross:

First, I want to say stick to your guns. Every investor has a number that works for them based on what their strategy is. When you analyze a deal and come up with your number, stick to it. If you lose the deal to a higher bid don't worry because the way you analyzed the deal that number would not work for you. Second, I would have you go back and look at your underwriting. Are you really putting in the best offer you can? I've lost a lot of deals because I over estimate repair costs, so my offer is lower than others. I need to personally do a better job of being able to estimate repair costs to compete with other investors. Where do you think you might be too conservative in your numbers?

One last thought to leave you with. I find that off market deals tend to be more relationship driven. Does the seller trust you as a buyer? On market deals tend to be about the numbers. If you really are going to go after on market deals, you need to find yourself a good real estate agent that can help you navigate what is going on in the market and what to put in your offer to get it accepted. I hope that helps.

Thank you, Bryan. Those are valid and insightful thoughts. I am definitely being ultra-conservative when it comes to repair and maintenance costs but still the 2-unit multifamilies do not seem to have a good cash flow.

0 Votes

Saint Louis, Missouri

Is 2.1% CoC for a LTR property with no scope for appreciation a good investment? I am torn between multifamilies and condos. Looks like my only options at this point are condos which have no scope for appreciation.

0 Votes

Saint Louis, Missouri

Hello,

I am based in St. Louis and have been searching for multifamily turn keys for the past one year. I am getting outbid by out-of-state folks.

Are there any tips to winning an offer other than outbidding them? I really don't know how much the bids are going for nor is the listing agent legally bound to let me know the honest offers received so far.

Any help would be appreciated!

0 Votes

Saint Louis, Missouri

Can I know when is the next one?

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Thank you.

I did a quick calculation of what my annual net cash-flow would be for a 2-bed condo and it turns out that it is only +$100 after deducting all the expenses including property management costs. Estimates were based on Zillow's. Estimates do not include any maintenance overheads. And also based on historical trends, condo is not appreciating.

Is this a typical trend or am I looking at the wrong area for a condo? Any thoughts?

0 Votes

Saint Louis, Missouri

Hello,

I am a newbie and posting on this forum to get your feedback. What are some of the places close to St. Louis City that are worth investing in rental properties? How about DeBaliviere Place? I am wondering how difficult is it find renters for a rental property.

What other areas can I look for condos?

Thank you,

Vasudev

0 Votes

Saint Louis, Missouri

All Forum Posts by: Vasudev Kirs

Vasudev Kirs has started 24 posts and replied 79 times.

Post: How to find the actual selling price?

Post: Is lot/land for sale any worth?

Post: Is lot/land for sale any worth?

Post: How to compete with out-of-state bidders?

Post: How to compete with out-of-state bidders?

Post: How to compete with out-of-state bidders?

Post: St. Louis REI Happy Hour

Post: Rental Property in DeBaliviere Place

Post: Rental Property in DeBaliviere Place