All Forum Posts by: Marcus S.

@Jack Luzecky - thanks. This seems like a straight forward way to account for it in the future without slowing the process down. I’m adding it to my “next time I’ll do this” list

@Lynnette E. - thanks! I’ll submit those requests tomorrow. Based on what I have seen so far,most of those artifacts are not in place, but it will be a starting point and anything is better than nothing.

Hey everybody! I’m both super excited and second guessing an accepted offer I put on my very first property, a nice four family building with upside for increased rents and overall value. My contract didn’t include any language around the current tenants, security deposits, etc. I can already see issues (annoyances) my rushing will bring me which at the very least includes having to evict a currently non-paying tenant. Fortunately, I’m in Missouri and my understanding is the landlord tenant laws are favorable to landlords.

I’m sure I’ll get through everything, but I’m hoping you all can help me:

1. Identify what should be in offers where there are tenants in place

2. Identify actions (if any) I should be taking on this current property between now, the inspection and closing to minimize my risk exposure

Thanks in advance!

@Bjorn Ahlblad thanks!

I’m chomping at the bit to purchase my first rental property and am eyeing an 11 unit apartment complex with a 12% cap rate. The numbers seem great, but part of me is concerned it will be too much learning too fast. Any advice for a wannabe landlord?