Mar
12

Foreclosure Opportunity in Tower Grove South
This is a Freddie Mac foreclosure. The first 15 days of bidding are reserved for owner occupants. This home was a custom rehab is 2003 when it originally sold for $310,000. 

To good to be true? Yes, there is catch. Like many foreclosures, it has been vandalized and it is missing all the plumbing supply lines and the HVAC system.

Regardless, $184,900 is still a good price for all that this home has to offer: 3 floors of living space, first floor laundry, private backyard. 2 car garage and superior location. 

More information on this property:
http://tinyurl.com/49fdycz


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Feb
06

Two-Family in Clifton Heights Neighborhood

It’s not often to come across a good investment property in a neighborhood like Clifton Heights. At the time of posting, the list price of this Two-Family is $144,000. Currently lenders are requiring a 25% down payment for non-owner occupied multi-families. Based on anticipated annual income it would take approximately seven years for the initial investment to be re-couped.  Some additional details below:

Taxes: $1083
Estimated Rents: $600 each
Estimated Insurance: $1000/yr

5% interest rate
25% down ($36,225)
Annual Income: $14,400
Annual Debt Service: $9084

Cash Flow (not including maintenance or vacancy): $5316
Initial Investment repaid: approximately 7 years

More information on this property:
http://tinyurl.com/4e6etra 

Welcome to the New Blog!

I’m still planning on keeping my original blog at DawnGriffin.com alive, but this is a separate resource for those looking to find a good investment opportunity whether it be an income-producing multi-family, a rehab or a just a good deal in St. Louis City or surrounding neighborhoods.

My goal is to help people understand the process of searching for, purchasing, owning  and maintaining investment properties. From time to time, I may even spotlight some past clients and show the incredible work that’s being done around town. Additionally I plan to ask some people who have helped me in the real estate investment arena (contractors, lenders, property managers, accountants and attorneys etc.) to chime in with their expertise as well.

Thanks for checking it out!