All Forum Posts by: Maggie L.

@Denise Smith welcome to BP!  There are lots of great resources here - the forums are a great way to meet other likeminded investors and I recommend a keyword search if you haven't set one up already.  Have you gotten involved with any local RE groups?   There are several where I invest and work (buy and hold investor and investor friendly agent in St Louis) which provide excellent opportunities to learn and network.  South Side Investment Club has it's monthly meeting this Thursday, for example http://www.meetup.com/TheSouthSideInvestmentClub/e...

I know there are many investors who come from the towns near St Louis, so you may even find someone else from Pacific.  Feel free to pm if you think I can be helpful or want to connect at an upcoming RE meeting.

@Jon Pounds welcome to BP!  There's a ton of great information here - be it podcasts, guides, or the forums.  I recommend setting up keyword searches if you haven't already.  Do you know how you want to get started in RE?  I'm an investor-friendly agent and buy and hold investor myself.  For some of my clients the hardest part in narrowing in on what they want to do to start; there are just so many ways to get involved in RE.  We're also lucky to live somewhere with some great RE groups - have you had a chance to check out anyone like SSIC, STLREIA, or STLIPA?  Feel free to PM if you think I can help.

SSIC's monthly meeting is a GREAT opportunity to network and learn.  I know a few other people on here who also try to make it to those meetings regularly. If I make it I'd love to connect; I just can't commit since this is a busy seller's market and I missed last month due to a last minute appointment with a client.

@Misty Froelich welcome to BP!  There's lot of great information here, be it the forums or podcasts.  I also recommend you look into local RE groups; great place to hear from more experienced people as well as get ideas.

This really sounds like a question for a lawyer, given variation in state and local laws.  My initial, not a lawyer and unable to give legal advice, thoughts were as follows.

Depending on the original lease - what does it say happens at expiration - the lease may have moved to month to month and it should be fairly straightforward to put the person with an expired lease onto a new lease (see pages 8 and 9).

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

For the tenants with a current written and signed lease in place there's also the option of asking the tenants if they're comfortable with a new lease agreement.  Assuming this client wants to keep the tenants around, it seems like the best thing to try.  The tenants have more certainly that they're not about to be forced to move, and the landlord has the desired lease agreement in place.  Mutually agreed-to changes happen all the time.

@JaNae Anderson in my experience (investor-friendly real estate agent and buy and hold investor)  the people who do well capitalize on what they know as much as possible to start.  Your first investment is going to be a learning experience in so many ways, there's no need to make it more complicated or risky. 
This is true for local or out of state investors.  There are great places to invest all over, just like there are many ways one can successfully invest in real estate.  Do you know people e.g. contractors, friends/family you visit regularly in any of these locations?  Having a local connection isn't necessarily required for success, but it can help.  I find too many options can make it hard for investors starting out - local investors who want to wholesale, and buy and hold, and rehab, etc.  They end up floundering because they don't pick one thing to try to understand really well before considering the next alternative.  I'm lucky that there are lots of good buy and hold options where I live.  But, there are a few other places I'm considering long-term as part of portfolio diversification, in part because I know people there and would have an easier time building connections than a location where I didn't know anyone.

Personally I had a really good experience with Real Estate Express, after having a great deal of difficulties (technology, and thought the material was poorly written) with another online school.  It wasn't a time when they had their 50% coupons going, but when I called in and asked they gave me the discount.  I found the material and exams simple and straightforward, all very logically laid out.  Would definitely use them again.

BP can be a great place to wconnect - I'd recommend putting your location in the post title to help people from the area see it. Have you checked out any local RE groups? There are usually some agents at these meetings who would be happy to talk to you. I'm an investor-friendly agent in St Louis, MO and often see other agents at my REI group meetings.

@Kenya Maclin glad to hear you're looking to get started in RE! I'm a buy and hold investor and investor-friendly agent in St Louis myself. I definitely second the recommendation to look for an investor-friendly agent to help you get MLS access and start looking at properties. I like to sit my potential clients down for about an hour to get a feel for where they are in the process and what they're looking to do - we are in the middle of a busy seller's market and it's important that everything is ready before you see that property and want to make an offer.

BP is a great source of information and advice, but there are also many great local RE groups in St Louis - SSIC is probably the biggest monthly meeting, whereas STLIPA has weekly lunches that are a great chance to chat informally with fellow investors, with other options in-between.

Feel free to PM if you'd like to chat further!