State of the market - Fall 2008

I’ve been posting regular updates on what I have been seeing in the investment real estate market since I started this blog, but I decided I needed to develop a method to my madness. These updates will now come on a quarterly basis with occasional updates interspersed throughout the year. Read more

Investment property financing

Other than which building to buy, the most important question to ask yourself when investing in real estate is “How am I going to pay for this?” If you’re loaded with cash and have a ton of equity built up in your house and other investments, this is a pretty easy question to answer. But for most of us, things aren’t quite so simple. Read more

Apartment Pet Policy

One of the most common questions landlords face when managing their apartments is whether or not to allow pets in their property. We all know the negative side of having pets: they can pee on the carpet, scratch hardwood floors, chew on cabinets corners… You get the idea. But if you don’t consider the positive aspects of allowing them in your rental units you could be selling yourself short. Read more

Single family investment properties

In March, I posted a story about duplexes suddenly becoming a viable, cash flowing, option for prospective investment real estate buyers. Four months later, I’m here to highlight the topic again. But this time, I’m not talking about two families. They are still an increasingly attractive buy, but the real surprise in the past few months has been how lucrative buying up single families has suddenly become in the St. Louis investment real estate market.

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Rental tracking with Zilpy

Technology is a glorious thing. Zilpy, not to be confused with Zillow (which I have always found unreliable), is a new website that tracks rental rates and statistics across the country. It just might be the answer to the age old question of how much to ask for rent on a unit. They pull these statistics from all over the internet from sites such as backpage.com and apartmentfinder.com and use them to populate a surprisingly versatile site. Read more

Window air conditioner installs

Just like radiators, I’ve always thought window air conditioners get an unfairly bad wrap. They are relatively cheap (usually between $100 and $300 per unit), most models are efficient if properly installed and there is no need to install expensive ductwork throughout the building. Read more

Copper theft season

Just when it seemed that increased security measures at local scrap yards were having a positive effect on copper theft, spring had to hit. Over the winter, even buildings that weren’t secured properly seemed to be holding onto their copper longer than usual. In the past couple of weeks, as the temperatures have been rising, I have defintely noticed an increase in theft of copper in St. Louis City properties. Read more

Writing off one bedrooms

When many investors are looking for their next rental property they have a tendency to ignore a vast majority of the current inventory on the market. The trait that these properties share in common is that they are single bedroom units. Landlords tend to shy away from them for fear that they won’t be able to pull in the rents they desire. If you can relate to this standpoint, just as with avoiding duplexes, you could really be missing out on some great buys. Read more

Keeping good financial records

I’m always astounded at how many investors don’t keep detailed records on their properties. Especially since most of this data is submitted to the IRS at tax time. For some reason or another, after the data has served it’s initial us, the information often gets tossed aside. If your records look like this picture or if they end up in the trash can, I encourage you to think twice about what you do. You are losing out on valuable information, which is crucial to any landlord’s business. Read more

St. Louis earning tax

Some days of the year are cherished. These holidays allow us to relax and enjoy ourselves. Then there are days like April 15th: Tax Day. For those of you getting money back, this might be considered among those cherished days. For others it is as bad as it gets. Read more

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