All Forum Posts by: Joe Prenger

I've got a property in Missouri that i'm purchasing from someone and it is currently rented out. This couple has rented it for nearly a decade and it seems that there hasn't been an increase in the rent since they started renting. They are currently on a month to month lease agreement. Once i purchase i would like to get the property up to current rent rates for the location. What are the legal requirements that must be meant in order to increase the rent? How much notice is needed to be given? Would there be any legal circumstance where the renters would be able to keep their current rent if they do not have a long term lease agreement in place?  Thanks in advance

Blake Brose

thanks for the info. Any chance you would have time for a phone call today? 

I'm looking for a few good wholesalers to network with in Kansas city, Metro or Jefferson city, Missouri area. If you know anyone please feel free to reply with their info.

I'm in the process of negotiating a deal with a home owner where she would finance the deal. She owns the property outright and is wanting to sell but has had others tell her that if she just fixes up the property (total rehab project) she would be able to make so much more. I gave her the info regarding the amount of time, experience and initial capital it would take to do the improvements necessary to get her home into the shape it would need to be to put on the market. I gave her the option to do a seller finance deal and she seemed to really like that idea. I have several questions:

When closing on a seller financed deal would the only closing cost be surrounding the title company?

Who has done a seller financed deal and what were the terms that you used? and looking back on it would you have done something different?

What were some of the selling points to the seller that you used to make her feel comfortable and in a win situation?

Where would you find applicable contracts that would cover what is needed in a seller finance deal?

I'm in the process of negotiating a deal with a home owner where she would finance the deal. She owns the property outright and is wanting to sell but has had others tell her that if she just fixes up the property (total rehab project) she would be able to make so much more. I gave her the info regarding the amount of time, experience and initial capital it would take to do the improvements necessary to get her home into the shape it would need to be to put on the market. I have several questions: 

When closing on a seller financed deal would the only closing cost be surrounding the title company?

Who has done a seller financed deal and what were the terms that you used and looking back on it would you have done something different?

What were some of the selling points to the seller that you used to make her feel comfortable and in a win situation?

Where would you find applicable contracts that would cover what is needed in a seller finance deal?

Cara and Jay, thanks for the suggestion. Next time i will make sure to have a contract with me ready to have signed. I just didn't want to look too desperate or pushy. All in all in l its all good, I'm currently working with the neighbor of the individual who turned me down and another one from down the street. Hopefully I'll be able to close one of those 2.

as a father of 4 I'm very fond of dory. Thanks for the words of encouragement.

After going from door-to-door driving for dollars and putting notes on doors we finally were able to get an individual intrested in selling their home. We walked through the property, talked about motivation, offered a very fair price, and she verbally accepted. The next day I sent over the written contract and did not see it returned within 24 hours. The following day I received a call from the girl stating that she was no longer going to sell. Obviously being new in the realestate investment arena this is very disappointing. However, I'm back on the roads driving for dollars, knocking on doors and leaving notes for the next potential deal. Any words of wisdom, strategies, or basic advice that would close the deal in the future?

What do people use for their direct mail marketing?

Kim, Thanks for the reply. Where is the speed networking event held?