All Forum Posts by: Lynne Hart

Robin, I can help!  Currently touring the Caribbean looking at real estate, but have connections in Mexico specifically.  Let's connect privately and plan to chat?  I'm currently on Atlantic time in St. Martin and will remain so for the next week or so, and my afternoons are best, as property tours typically last through 3pm for us.  

Helping a client buy an occupied multifamily and he may want to change some things about leases after close.  I've never actually done this, always just rode the leases out and then renewed on my own contract.  So, questions:

 - Must the current leases be honored in exact terms? (not wanting to kick anyone out, but may want to adjust policies)

- If someone is in a unit on a lease that expired a long time ago, I assume we can put them on a new lease after close.

- Even if we didn't change policies or terms, can we update the existing leases to the buyers preferred contract if the basic tenant cost and amenities, etc don't change?

Where are the boundaries and guidelines here?  Is there a common approach to 

Helping a client buy an occupied multifamily and he may want to change some things about leases after close.  I've never actually done this, always just rode the leases out and then renewed on my own contract, primarily I assumed I had to.  So, questions:

 - Must the current leases be honored in exact terms? (not wanting to kick anyone out, but may want to adjust policies)

- If someone is in a unit on a lease that expired a long time ago, I assume we can put them on a new lease after close assuming they don't elect to move out.  

- Even if we didn't change policies or terms, can we update the existing leases to the buyers preferred contract if the basic tenant cost and amenities, etc don't change?

General boundaries and guidelines with leases after close would be appreciated.  I can't seem to find information in the missouri statutes, must not be using the right words!!

@Jeremy Paschedag  Hey Jeremy!!  It depends where the building is. I'm here in St. Louis and would be happy to help you evaluate.  I have a variety of units, one of which is a multifamily with 1 bedrooms.  They rent so fast I have multiple applications and select tenants that are responsible and almost always pay on time as well as keep the apartment very clean - but its about the location.  Give me a call or a PM I'd be happy to discuss in depth as well as look at the specific property for you.

St. Loui is a big city.  I have cash buyers (I'm a real estate agent), and most are specialized in a few areas.  Where are your properties?

Hi there!! I'm a realtor and an investor in St. Louis. My own properties are in the city of St. Louis and I know its neighborhoods well.  I can help acclimate you as well as assist in your search for properties.  How can I help you?

Lynne Hart Herrera

Another thought Tim - if your 1890s home is in the city in an area where rentals may be primarily students, we're past the peak renting seasons...... not impossible to find renters, but much easier starting in March through early September.

Perfect, I'm in the city, (CWE) so anywhere central is easy - but I get all around the city while I'm working so I'm sure we can work out a coffee wherever you may be.  Just say when!

Lynne

HI Makeeba!  Love to see other women around!  There is a ton of information here and if you need any referrals to contractors, help finding or selling property, etc or just would like to have a coffee I'd be happy to meet.

Lynne

You're doing it Ashley!  Attend some events, use social media and get out to meet investors.  Most are pretty open to networking.  I am as well if you'd like to connect outside forums.