Real Estate Investing Advice

Lead can not only be hazardous to your health, it can also be hazardous to your pocketbook. If you are a real estate investor or owner occupant of a historic building, chances are the building is full of lead paint. Depending on the severity, lead abatement can be expensive and time consuming. Assistance from Federal and State governments has been available for years, but the method of reimbursement has...

In addition to the Multi-Family Window Replacement Program, the City of St. Louis recently also has a  called the Multi-Family Lead Remediation Program. Where the window program only compensates landlords for the replacement of up to 10 wood windows per unit ($200 for normal windows and $400 for historic windows), this program has broader implications. Rather than compensating rehabbers just for windows,...

One of the decisions that all landlords must face when managing their apartments is whether or not to allow pets in their properties. There is no doubt that there can be a negative side to allowing pets: they can pee on the carpet, they can scratch  hardwood floors, they can be loud when they bark or run around the unit... You get the idea. But while the negatives sometimes outweigh the positives, with...

So your sewer line has backed up and a simple Roto-Rooter cleaning did not solve the problem? You might have a hefty bill on your hands if something significant is wrong with the sewer lateral. Or then again, with luck, maybe not If the issue with the sewer lateral turns out to be in a certain type of easement or the right-of-way such as an alley, sidewalk or tree-line, the City of St. Louis might cover...

Is there a street light out on your block? Is the grass at that vacant property across the street ridiculously tall? Or maybe the bricks falling off the building next door were the last draw. Never fear, there is an easy way to tackle the problem: Report it to the Citizens' Service Bureau (CSB). Any code violation in the City of St. Louis is usually best remedied by contacting them for an inspection or...

Own real estate in the City of St. Louis? If you do, you probably hate paying that annoying 1% earning tax on your income, but at least that helps to cover trash collection fees for you right? Sadly, not anymore. The St. Louis Board of Alderman recently passed a bill, which returns trash pickups to two times a week and adds single-stream recycling bins in alleys. This containers are just now showing up...

There seems to be a lot of confusion surrounding the FHA 203k loan program. While it is an excellent tool for homebuyers looking to purchase properties in need of a little rehab, many likely candidates avoid the product because they simply don't know what it is. So just what is 203k construction financing and what can you do with it?...

There is no denying that Mesothelioma and the asbestos that causes it are serious problems. Especially in areas such as St. Louis where an abundance of historic buildings are still filled with the stuff. When faced with friable (reduced to smaller pieces with little effort) asbestos insulation, siding and flooring materials, most property owners and contractors realize that professional remediation is the...

When it comes time to purchase a home, most homebuyers fail to consider the path of purchasing a multi-family. Whether this is due to the belief  that they can't afford it, that they can't compete with seasoned investors, or something else altogether, most people don't give the matter much thought. By doing so, they are missing out on a unique and profitable opportunity.  With current FHA 203k lending...

In a last minute move by Congress, the $8,000 Homebuyer Tax Credit program has been extended yet again. This extension will drag the program out until September 30, 2010. There is a catch though. It only applies to people who had buildings under contract on April 30, 2010. Originally set to expire June 30, 2010, this extension is for those people that have not yet been able to close on contracts after...

Over the past few years, the St. Louis Board of Alderman have debated the prospected of a vacant property registration system numerous times. One bill almost passed about a year ago. Not taking no for an answer, Alderwoman Kacie Starr Triplett brought the issue back up recently. The new bill corrected many of the issues with the previous versions, but many in the real estate industry felt the bill still...

Buying foreclosure properties can be a frustrating, cutthroat enterprise. The best properties usually have investors circling like vultures. You're never going to be able to win all your bids, but there are things you can do to increase your chances of being the winning bidder. And get the best price in the process. The following guide will help arm you with information that can help you along your road...

If you're new to landlording or could use a refresher, the University of Missouri St. Louis will be holding a 6-hour Landlord Training class this March. Here is the basics on the course: The University of Missouri–St. Louis Division of Continuing Education and its Center for Entrepreneurship & Economic Education announces the Landlord Training Program, a two-day, six-hour program leading to...

If you have ever rehabbed a house, rented out an apartment, or even simply lived in the City of St. Louis for any period of time, you are well aware of the ridiculous amount of red tape that the City throws up around just about every issue. A lot of it is necessary, but the implementation has always been wanting. The Post Dispatch featured a very interesting article on this topic in this morning's...

One of the most important things every investor needs to do before purchasing a property is a profitability analysis. At first glance, many deals seem great, but upon further review turn out to be anything but ideal. You just can't tell for sure until you do the numbers. That's where this spreadsheet might come in handy. If you have Microsoft Excel (or OpenOffice), this financial spreadsheet is a good...