Chad Klamen, a 4th generation home buyer at Klamen real estate, shows a rental house purchased in 2018.

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Bad Tenants? We Buy Rental Homes in St Louis

Video Transcript:

Chad Klamen:

Hi, Chad here with Klamen Group, Klamen Real Estate where we buy houses and small multi-families for cash. I’m here at 5227 Murdoch, and let me ask you do you have any tenants that just won’t pay the rent? Well, that’s what happened here. It’s a two family, one level on each side is each unit. They’re both three bed, one bath units, and there’s a garage out back. And let’s just say that one of the units the tenant wasn’t paying the rent, and they weren’t taking care of the property, and the landlord just got sick of it. He called me up, he said, “Chad, I need you to buy this house from me.” We came in and we made him a cash offer, I was able to close very quickly after, and kind of take care of the rest, and take the headache away from the seller. Let’s go on inside and I’ll show you what the inside looks like, and really how bad the tenant was treating the property, but we were able to make those headaches go away. Here we’re inside the property, and as you can see it has definitely seen its better day.

A little bit beat up, so to speak. It’s hard to tell from this video, but basically it looks like it hasn’t been vacuumed the entire time the tenant was living here, and when they weren’t paying the rent. Usually when people aren’t paying the rent they’re not taking care of the property, and as you can see quite a bit of work needs to be done. [inaudible 00:01:26] day, just after the hauler got out, when we bought the property, it looked like somebody left in the middle of the night. And they may have because quite frankly, every single thing that you would use to live in a house, couch, furniture, bedroom, all that was left in the house. Just kind of giving you a short tour on what the property on the inside looks like. Old windows, radiator heat. Over here I’ll show you the bathroom and the kitchen. Bathroom certainly needs some work. It’s probably going to need a full gut rehab. What we’re going to do is we’re going to tear this entire bathroom out, we’re going to replace it.

We’re going to re-rent it once we’re done with the bathroom, the kitchen, and the floors, the painting, and everything else that needs to be done. Checking all the systems to make sure everything works properly, and then hopefully we’re going to sell it, or if it’s possible we’ll keep it rented. Depends on how the rehab turns out and what the market is doing at that time when we get finished with the rehab. As you can tell the kitchen has been updated at some point, certainly not what buyers and tenants are looking for today. Usable, but not really what we’re going for when we finish our rehabs. Again, as you can see the property certainly needs some work. It’s kind of a funky house, you’ve got baseboard heating in here, like I was saying. You have radiator heat, obviously a boiler out there. And then on the main level there is actually still a tenant in there paying low market rent, but it’s forced air, so kind of a funky building so to speak. You have old windows here, and then there’s the garage out back. I did like the fact that there was a garage.

Not all city houses in Saint Louis have a garage, and that’s where we’re at right now. We’re in the city, to that was a bonus. As you can see it needs some work. Well, I appreciate you tuning in with this tour with me. Look forward to getting our crew in here, and we’re at the 5200 block of Murdoch. It’s 63109, right off King’s Highway in Saint Louis, Missouri. As you know, we buy anywhere from Festus to Wentzville, all throughout Jefferson County. We buy all throughout Saint Louis County and City and all the way out in St. Charles, all the way to Wentzville. If you or anyone you know needs to sell a house as-is, you know who to call. Please check us out online at klamengroup.com. That’s K-L-A-M-E-N-G-R-O-U-P.com. Or give me a call, I’ll give you my cellphone, 314-359-3139. I hope to talk to you soon.

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