Landlords
Tired landlords
Sell a rental with the tenants still in it. Leases and deposits transfer at closing, and nobody gets evicted to make the sale work.
How we see it
What this usually looks like.
Maybe it was a good plan in 2009. Now it's late rent, a furnace in January and a building that needs a roof. A lot of St. Louis landlords own one or two older flats and are simply done.
We buy single-family rentals and two- to four-family buildings with the tenants in place. Leases transfer to us, security deposits transfer at closing, and we introduce ourselves to your tenants respectfully.
This sounds like you if
- You own a two-family flat or a small multi-unit and want out
- A unit needs a full rehab before it can be rented again
- You're managing from out of town and it's wearing you down
- A tenant situation makes a regular sale hard to show
Your tenants
What changes for them: very little.
Good tenants are worth keeping. We take over the leases as written and introduce ourselves after closing, in person or by letter, with the new rent address.
- Walk-through24 hours' notice, as most leases require. We look at units, not at belongings.
- LeasesTransfer to us unchanged. Rent and end dates stay the same.
- Security depositsMove to us at closing through the title company, itemized.
- After closingA letter with our contact details and how to request repairs.
How we handle it
Three things we do differently.
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Tenants stay, leases transfer
We take over the leases as written. No surprise move-out notices, and no showings that disrupt your tenants' week.
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Deposits handled at closing
The title company moves security deposits and prorated rent to us, so the books close clean.
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Talk to your tax advisor first
Selling a rental can mean capital gains and depreciation recapture. A 1031 exchange may fit. We'll give your CPA the numbers they need.
The math on an example house
Repairs: full rehab of the vacant unit, a new roof and tuckpointing on the front wall.
Example: two-family brick flat in Carondelet, one unit vacant
- After-repair value What it would sell for, fixed up $260,000
- Minus Repairs Priced line by line at the walk-through $52,000
- Minus Our costs to buy, hold and resell Closing, taxes, insurance, utilities, resale fees $32,500
- Minus Our margin About 10% of the after-repair value $26,000
- Equals Example cash offer $149,500
Our example offer
$149,500
Paid in 10 to 30 days
Listing as-is, estimated net
$185,500
In 2 to 4 months, after fees
Example figures for illustration only. Your offer depends on your house and recent sales near it.
Questions people ask about this
Do my tenants have to move out?
No. We buy with tenants in place and take over the leases as written.
What happens to the security deposits?
They transfer to us at closing through the title company, so the tenants' money stays protected.
Can you buy more than one property?
Yes. If you own several rentals, we can buy them together or one at a time, each with its own written math.
Other situations we buy in
Get started
See your own numbers, then decide.
Call or fill in five quick steps. You'll get a written offer with the math, and it stays open for 14 days. If listing would net you more, we'll say so.
When we answer
- Monday to Friday
- 8 a.m. to 6 p.m.
- Saturday
- 9 a.m. to 1 p.m.
- Sunday
- Closed
Leave a message after hours and we call back the next morning.
Or start online
Five short steps: the address, the condition, your timeline, how to reach you, and a review. About three minutes.
Get my cash offer4400 Chippewa St, Suite 3, St. Louis, MO