Real Estate Investing Advice

Being a landlord or rehabber can be a tough business. Juggling tenants and repairs are a struggle in their own right, but sometimes the most stressful things can less tangible. For instance: keeping up with occupancy codes. And as of late, the City of St. Louis has been rabid in their enforcement. In the past couple months I have personally experienced incorrect condemnation warnings and heard similar...

Landlords of Missouri, it is time to celebrate. Common-sense has finally won the day in terms of our eviction law. From now on, when an eviction occurs, there is actually a legal pathway to removing the tenants property thanks newly signed Senate Bill 231....

The poster-boy for real estate fraud in St. Louis has finally been sentenced. Doug Hartmann, of DHP fame, was found guilty in April of siphoning off $35 million from real estate investors over the years. You'd think this guy would get put away for a long time. Instead, he got two years in federal prison. Hopefully the civil courts are far less kind....

Let me go on the record as saying I love historic architecture. It humbles me to think that with all the technological advancements of the last 100 years, the buildings of 100 years ago display a level of craftsmanship that seems to be lost in the modern day. That being said, our current system of preserving these historic structures misses the point entirely...

When buying a foreclosure, like all other properties, you need to set a closing date on the contract. When setting this timetable you need to consider what kind of affect the proposed dates will have on your offer. As with any point in a contract, if you put the closing out too far you could hurt your bargaining position in the deal. For most situations, the maximum you should request is six weeks. I say...

Persistent communication with the seller and listing agent (not assuming anything or taking "no" for an answer) is key to controlling your success when buying foreclosure real estate. Getting your offer accepted and the deal closed is not always an easy mountain to climb.

When it comes to making an offer on a foreclosure property, many investors often get caught up in the "How low can you go?" mentality. Since banks can more easily absorb a loss on a property, you might be tempted to do nothing but lowball. At times this is the appropriate mentality, but don't throw away your common sense. Like all aspects of a foreclosure offer, if a property has been on the market for...

If you're a veteran foreclosure buyer, this one is probably obvious., but a little refresher never hurts. When making an offer on a property, do all you can to limit the number and length of your contingencies. Depending on the property, and your personal taste, you might want to get an inspection of the roof, the sewer and possibly the whole property before purchasing. With the fast pace at which many...

Being creative with earnest money in real estate transactions is one of the most commonly overlooked negotiation points in a contract. Especially for foreclosures, with their battle-weary bank-owners trying to cover their butts. They want assurances. This earnest money acts as a guarantee that if you violate the provisions of the contract and walk away, the seller has something to show for their time. The...

Is the sidewalk in front of your property a little worse for wear? All the freezing and thawing of Missouri weather along with additional help from ice melt, tree roots and good old time have a way of doing that....

Almost every offer for a bank-owned property must be accompanied by either a proof of funds or loan preapproval. Offers won't usually be entertained without one accompanying the contract. With the strict lending market, this is now more important than ever. Banks, and their agents, don't want to waste their time with buyers who don't have the ability to follow through on the terms of a contract. It takes...

Don't let this man's phony smile fool you. He could be a thief. If someone comes knocking at your door, claiming to be a contractor, be careful of what you do. I just received this forward from a Circuit Attorney in the City of St. Louis. If you live or own any properties in the City you should really take this one to heart....