STL Real Estate is proud to announce that it is doing a listing presentation for 4068 Loughborough, St Louis, MO 63116.
This house is a south st louis city house for sale under 100K. Stay tuned for pictures and more information on the house as its not even on the market yet!
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Call Jim at STL REal Estate for more information – 314.571.9225
South City Home For Sale Under 100K
There is a great South St. Louis City Home for sale.
The address is 6740 Vermont, St Louis Missouri 63111.
Call Jim at 314.571.9225 for more information.
Or email jim@stlhouseseller.com.
Don’t miss out on this great house in south St. Louis.
Contact us Today!
My last blog goes into detail about state of the Saint Louis real estate market. Because of where the market currently is, and the high supply of houses and low supply of qualified buyers, the 2nd investment strategy of rehabbing and selling a house is actually not the best way to maximize your long term wealth in this market. It is still being done, and the most seasoned investors are still making money via this strategy.
However, the people making all the money in this market are the investors that have an income stream coming in from a different source other than real estate. This cash flow has allowed them to leverage their money into multiple rental properties.
Over the long term, the savy new Saint Louis real estate investors that begin their careers by exclusively buying and holding onto rental property are going to make themselves millionaires!
However, the key to implementing this strategy is to first have a steady cash flow coming in. This will allow you to overcome any short term hurdles that you may encounter along the way (furnace breaks etc.)
So, if you are new to investing in Saint Louis, and you are thinking about leaving your job. DON’T!
This is the market that you want to become a landlord in. And, you can do that if you still have a job giving you a steady amount of cash flow.
The first investment option is to wholesale properties. If you are new to investing, I’m sure you have read information on the subject from 1 of the 100’s of gurus that are telling you it’s the best thing since sliced bread.
WAKE UP!
These people are making their money selling you products, not by investing in real estate! If they were really good at wholesaling, and making the money that they claim you can make, wouldn’t they be doing that instead of teaching you how to wholesale!
What they don’t tell you is that if you are able to make it and become a successful wholesaler, it can take between 2 to 3 years to develop a marketing system that gives you enough leads to earn a decent income. Especially because when you are new you are going to mishandle many of the leads that you receive.
Lets review:
If you have a job, DON’T QUIT IT.
Suck it up and think about the big picture: you are going to maximizing your long term wealth by first establishing a rental portfolio. Then, once you do this the supply of buyers will have probably rebounded and you can now invest full time in real estate!
DON’T LISTEN TO THE REAL ESTATE GURUS
This is a hard profession, and not cut out for everyone. Try investing part time first until you have some experience and can then make an educated decision on whether or not this is what you want to do with your life.
Good luck as you begin your investment career! If this blog has helped you in any way, or if you even disagree with anything in it, please let me know with a comment on it at the original place the blog was written.
You can also reach me at one of my websites: STL Real Estate if you would like to discuss investing further.
What is going to happen to the Saint Louis real estate marketvv
Lately I have been talking to many Saint Louis real estate professionals and lenders. I respect these people and their opinions, and the general consensus is that we have entered into a stable market. Many are also hopeful for the future. I am as well.
I tend to agree with them on the future and that current Saint Louis real estate market has been stable over the past 6 to 8 months.
The housing market (I’m writing this on January 27, 2010) in the immediate future still looks bleak. Our best case scenario is that the market remains stable and doesn’t drop any further over the next couple of years. But, without government aid, it is more likely the St. Louis housing market will drop farther.
I know we are looking for a silver lining, that we want things to return back towards a boom so that we can be more comfortable with our economic future. This hope…unfortunate…is not realistic for the immediate future…
Lets get what I’m saying straight..I’m not saying that the overall outlook for our economy and housing market is bleak in the future. What I AM saying is that we have yet to have our rough landing. As a result, the next couple years may be pretty tough for most families.
For every 1 qualified buyer in the market, there are about 9 homes for sale. In 2008, 20% of homes sold were in foreclosure, and another 11% were sold via a short sale! (stat found @ CNN Money.)
To make matters worse, it is now harder than ever for a buyer to get qualified for a loan.
This recipe of a huge inventory of homes on the market, combined with new lending requirements that make it much harder to get approved for a loan, does not add up to a near future real estate boom.
Add in to the mix that unemployment still remains incredibly high, and you have for yourself a full fledged real estate recession. The current stability is merely an artificial result of the government aid and intervention that the real estate market has been receiving.
Once this is taken away, things will begin falling downward again.
Supply and demand is the key indicator for recessions and booms. In real estate the supply is houses, and the demand is the amount of buyers in the marketplace. Click on this link for the most recent unemployment rate data that I could find. The chart shows data from the U.S. Bureau of Labor Statistics
So…its really that simple…the current vicious cycle will continue until the unemployment rate drops.
Sign up for my STL Real Estate RSS feed to easily see when I write new articles. My next articled is scheduled to be published in a week from today, and if you sign up for the feed it will automatically let you know when the post gets published!
The next article’s topic: what is the best investment strategy is for new Saint Louis real estate investors in todays market?
If you need any solid Saint Louis real estate advice, or need to sell a Saint Louis house quickly, contact STL Real Estate!
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