Generating First Lease Agreement

[Zach Adams]

Hi all, I am currently trying to get my first lease agreement made for my property. I was wondering if I can use a lease from a current landlord in another county in Minnesota? I would like to do this as an investor I know is willing to provide me a copy of his residential lease that he paid an attorney to draft. I have seen this lease and compared it to a standard residential lease from the BAR and it is much more comprehensive. Is this legal, or would I be better off drafting my own off of the standard agreement with my own attorney? Or purchasing the BiggerPockets forms? Thanks for any advice!

[Wes M.]

All of the above. You can use your own form for your own property. But it would be good to base it off a standard lease agreement. If you get permission from the fellow investor and there is no copyright concern then you may use that form. I would also recommend paying for an hour consultation with an experience local RE attorney to go over any specific issues that a new investor should be aware of. This should be money well spent.