All Forum Posts by: Krystal Grubbs

@Laurie Murray the next meeting is this Thursday 4/26/2018 at the Foxcroft Ave Holiday Inn

@Andrew B. You are exactly right. He'd have to give notice by the end of this month for an effective date of May 1st.

@Joe Prenger if you're ultimate goal is to raise rent AND keep the long standing tenant I'd suggest a gradual increase rather than a large jump. Have them actually sign a lease agreement (month to month or otherwise) with a smaller increase every 3 months or so. I had several tenants I did an increase on. I created an addendum in the lease specifying the dates and the amount of the increase.

Here's a helpful PDF for MO Landlord/Tenant Laws.

Here is an exert from the PDF:

"ORAL AGREEMENT An oral agreement obligates the landlord and tenant for only one month. A landlord can evict the tenant or raise rent with only one month’s notice. Likewise, the tenant can give notice to vacate on one month’s notice. (One month’s notice means a full calendar month, and must include a full rental period. For example: If your rent is due on the third day of the month, your rental period runs from the third of the month to the third of the following month.)"

https://www.ago.mo.gov/docs/default-source/publica...

Under a month to month lease you should be able to raise the rent with a written 30 day notice. Is it an oral month to month tenancy or written?

I am also curious about this company @Howard Pritchett

I just spoke to them earlier today and they seem to good to be true.

Please feel free to let me know what you are able to find out. Seems to have a mixture of good and bad reviews.

Hi Mara, this is off but maybe slightly on topic. Have you possibly considered doing something with a quicker turn to build capital first?

Brandon is correct. Put the offer in in the name of the LLC it is to purchased under. You'll want to look up the Authorized people to sign they'll be on the articles of organization. Also when the offer is accepted and settlement company is selected they will want a copy of the articles of organization as well as the operating agreement.

Their range was broken for 4 months ior they withheld rent that long or both? The company I work for has a strict no eviction policy HOWEVER in this case I would certainly look at all the factors. 

Good credit score

Over income guideline

Verifiable references (?)

Seems to me they didn't know the proper recourse (escrow in court) to take care of the issues with repairs.

Have you spoken to their current landlord?

Mark,

Have you looked at comps in the area? I used to work for an investor and did all the calulations needed for Investor Packets. I looked at the state tax department's estimate but even more important I looked at comps in the area. I woud them pick a happy medium so that it was to far above or under. Look for recently sold properties of similar size and updates.

I agree with other posts. Definitely look into taking the real estate course that is required for your state licensing even if you don't actually plan to get your license. I have taken and obtained my license in MD and WV just for the puprose of knowledge. I have also reached out to several investors via facebook and BP and asked for pointers or advice. 

Last thing I did was actually working for a rather prominent investor in Hagerstown. That had plenty of positives and negatives on a personal and business stand point. I learned a lot. So much I feel more than comfortable going out on my own and not worrying about failing as much as I used to.

If you want someone more reputable you could try Angies list