Here's What You Need To Know About Investing In St. Louis, MO

Looking for a new market to invest in? How about St. Louis Missouri? In this episode, Roofstock Certified Agent, Tellee Warren from 314 Property Solutions Group joins us to tell us about the St. Louis real estate market. Tellee gives us the scoop on the competitive environment, the common price to income ratio, the particularities of this market, common risk factors to consider, and his perspective both as an agent there and with his past experience as an appraiser.     Tellee Warren, 314 Property Solutions Group [email protected] , 314-753-4503   --- Transcript     Before we jump into the episode, here's a quick disclaimer about our content. The Remote Real Estate Investor podcast is for informational purposes only, and is not intended as investment advice. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals.   Michael: Hey, everybody, welcome to another episode of the remote real estate investor. I'm Michael album and today I'm joined by my co host, Tom Schneider, and Mark Woodling. And today we are chatting with the Roofstock Certified Agent out in St. Louis, Tellee Warren, and he's gonna be telling us all about the St. Louis market, why it's a hot place for investors, and some things you need to be aware of, if you're gonna head out that way. So let's get into it.   Tellee, thank you so much for being with us here today. Really appreciate you taking the time out of your busy schedule to hang out with us for a little bit.   Tellee Absolutely. Thank you so much for having me. I appreciate it.   Michael: No, of course, it's our pleasure. So I want to come out with a big swing and question right off the bat. I'm an investor I invest all over the country. Sell me on St. Louis, why St. Louis, the best market in your opinion?   Tellee: Well, St. Louis, we have I think some of the best price points. The we have very affordable homes with great rents, which you know, make we have fantastic cap rates. We have I mean, we're working right now with with investors from from all over the country and from other countries that are flocking to the St. Louis market to buy rental properties. Because the price point is is so good. And the rents keep up with that to make the cap rates high a great place for investors to hang their hat here. So..   Tom: Love it. What would you say those ranges of what you're talking about price point like where would you say kind of different ranges or buckets of price points that you can get into and the corresponding rents,   Tellee Some of the great areas, I think for investing in St. Louis, the price range, North County area, we've got 100,000 to actually have about 120,000 - 250,000 price range. And that's that's for your average three bed, two bath, you know, probably 11- 1200 square feet. rents are 12 to $1400, on average there. And then you get you get into Western St. Louis County, the there's some areas there that are still great for investing price points are a little bit higher. They're in the 200 to 250 range, I would say rents are also higher, I mean, you got you know, you have rents 18 1800 to 2000. Some as high as 21- 2200. And then you move even further west into St. Louis County, and then you get to the to the higher price points. 400 Plus, probably so…   Michael: Awesome. So you're saying in North County, you can still find 1% properties, properties that meet the 1% rule?   Tellee Once in a while. Yeah, absolutely. We're still seeing plenty of that seven to 10% cap rate, which is, which is the sweet spot? I think anyway, I mean, it's it's where investors are looking to be   Michael: Totally,   Tellee: So yeah, I mean, we still can find the one percenters once in a while.   Michael: For all you haters out there that spew hate, you know, online everyday, there's