Has anyone researched investing in St. Louis? The houses there are rediculously cheap compared to the rest of the country and the city is beautiful. You can get a really nice 4 bedroom house in a great neighborhood for only $200,000.
Only 7% of the houses are purchased with interest only loans versus over 50% for California. A lot of biotech companies are moving there. Also large companies such as Boeing, Microsoft and Anheuser-Busch have offices there. They have some of the top hospitals and schools in the United States.
I live near St. Louis and can vouch for the low prices of housing here. I did a search last night on realtor.com for Los Angeles vs. St. Louis (well, O’Fallon, MO since that’s where I live.) What is 250K to 300K there would be 40K to 50K here and would NOT be in a desirable area. Downtown St. Louis or something like that.
For an idea of what I mean, enter in zip code 63366, 400K and less and see what pops up. Houses that look like mini-mansions! Beautiful! ;D
Do you think the wages balance out the price of the home? I mean, do you think CA people get paid more than MO people in order to afford such an expensive price tag?
I lived in St. Louis for 3 years…moved from NYC. It took me a while to get used to the city but, really liked it after all. I rented a super nice loft with cathedral ceilings in the Central West End area…it was a beautiful loft!!! It was very close to the Chase Park Plaza Hotel. I live in Seattle now and houses here are not that cheap (but cheaper than LA for sure). IF I knew then what I know now, I would have invested in RE, or giving it a try at least, in Good Ol’ St. Louis. Keep doing your homework with this business and when you feel ready…DIVE IN full force.