Real Estate Investment in St. Louis City Neighborhoods
I've been an armchair real estate investor for years. Doing more shopping than buying, I found that I really just love this stuff! In fact, I originally got my license so that I could show myself property without having to bother an agent. I've met a ton of investors and many have a similar story. Some rehab, some buy/hold/rent.....Lots of us have left full time jobs for real estate investment, or simply built up nice backup plans.
I've been meeting tons of new investor clients through other investors, investor forums, etc. What I hear again and again is how CHEAP property is to buy in St. Louis in comparison to other major cities. There is investor after investor from out of state looking to St. Louis to invest money. Experienced investors will buy sight unseen and have a management company do the rest. The local investor takes a different angle, scrutizing properties and areas a bit more, and is more likely to be an owner operator, at least in the beginning. This is the route I've taken. With the surge of interest in investing I've found that I really enjoy mentoring new investors. I certainly am still learning myself - but always love to teach and love to learn through teaching.
Do an internet search and you'll read that 90% of the worlds millionares have built wealth through real estate, so why are St. Louisans so hestitant to invest in the city? There are fantastic deals on properties, multifamily turnkey properties - bsically anyway you want to invest can be achieved. Still, almost everyone I've spoken to asks "isn't it dangerous?" "Why would you want to be a slum lord?" This is a stigma about the city of St. Louis that is simply wrong and usually, its a simple matter of not having any experience in the city and operating off of hear say. Sure, crime happens - it happens everywhere, suburbs too.
There are great neighborhoods in the St. Louis City. Tons of areas are home to the students of Washington University (WashU) and Saint Louis University (SLU) where renters line up to see property. Tons of places are home to city huggers, or people that appreicate diversity and a walkable area. I've had as many as 50 requests to see a 1 bedroom 1 bathroom apartment renting at $750, and had to resort to open houses to show it! The city of St. Louis, including Shaw, Tower Grove South, Tower Grov
e East, The Grove, The Central West End, Skinker-Debaliver, Maplewood, Dogtown, Clayton, and many many more areas are a fantastic place to find inexpensive multifamily properties that can be rented to students and young professionals who largely pay their rent on time and treat the property well! These are mixed use neighborhoods that have a diverse blend of cultures, income levels, families, singles, students, professionals. These neighborhoods are also peppered with beautiful parks, walkable areas, public transportation and quite a few free (yes FREE) or low cost cultural centers, theatres - shall I go on?. Take a peek at Forest Park, Tower Grove Park Carondelet Park.... you'll see runners, strollers, doggies, and lots of life.
St. Louis City has long since stolen my heart (second only to travelling and the beach), however its not the only place there is to find great investment property in St. Louis. Why aren't you considering investing some disposable income into a property that can generate income and equity for you?
I keep an 'investors best buy' list fresh and would be happy to share it with you. This list centers on many of the areas listed above and many more - and guess what - if you ahve an area in mind that I don't know, I LOVE TO LEARN.
Contact me HERE or any way you like and let me know if you'd like to have my current St. Louis Investors Best Buy List. As well, I've got an app you can download that can be used virtually ANYWHERE to find property. You can search nearby homes, rentals based on your current location - or do complex searches on any area you choose. And, downloading it in October of 2015 you might just win me an opportunity to get some fantastic education. Download my app now!!!
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