If you’re an investor wondering whether you should buy rental properties in St. Louis, our answer is that you absolutely should. Not only is it a great time to buy real estate in general, it’s especially a great time to buy in the St. Louis market.
St. Louis Ranked First for Fast Growth
St. Louis has been ranked as the number one city for fastest growing start-up companies. Our area has out-performed Silicon Valley, New York, and San Francisco. That’s pretty exciting for investors who are looking for the next best place to buy property.
Cost of Living Impacts Revenue
In St. Louis, the cost of living is extremely competitive. It beats out any other city in the country. This means a number of important things for you, as an investor. It means that a lot of millennials and other high quality tenants are moving to the area, and they are going to look for long term places to live. So, you’ll have an outstanding tenant pool from which to find renters. You’ll also be able to purchase property at a competitive price, ensuring that you’re able to cover your mortgage expenses every month as well as taxes, insurance, and a reserve for maintenance costs. Because of the reasonable cost of living, you will likely still have some cash flow coming in, and your asset will grow in value.
Hiring a Property Manager to Help with Maintenance and Tenants
Even if you live outside of St. Louis, an investment here makes sense because you can hire a professional property management company to worry about maintenance and tenant relations for you. You don’t have to worry about maintaining the condition of your property or answering calls from tenants in the middle of the night. The number one property management company in St. Louis can do that for you, and provide you with a hassle-free investment.
If you have any questions as you prepare to invest in St. Louis properties, please contact us at Select Leasing & Management, and we’d be happy to help you.