All Forum Posts by: Aaron Daniels

 Hi Brandon!

Do you remember the lender your in-laws had for the personal loan and the refi?

Hello. I'm looking to get started in REI and I'm seeking a mentor in the Lansing, Michigan area. I have little money for a downpayment, and I also don't know where to begin. I'm not focused on a particular industry. However, I do bring some things to the table. I currently work as an accounting analyst for a real estate services firm and I'm not afraid to get my hands dirty. I'm willing to lend a hand to help out on deals so that I am able to learn along the way. Is there anyone that would be interested? I would love to learn the business and get out and started on my own, but this process could take longer and I'm a firm believer that the best way to do things sometimes is to actually do them. If anyone is interested, please contact me.

Thanks for reading!

@Bob E 

It's a duplex with 3 beds, 1 full, and 1 half bath on each side. It's located in what appears to be a very tenant heavy neighborhood. Being new to REI, I'm still trying to learn the nuances of surveying the demand for certain areas.

Thanks! @Jeffrey Greenhow

@Brent Paul

I did get a chance to read the tenant screening guide. Which tenant screening service do you recommend? Also, I'm going to check out that podcast today, it has a very interesting title. 

Since I'm starting off small, I plan to manage most of my own properties. Even though I will budget for vacancies, my biggest fear is that I'll initially make a few bad choices in the screening process and I'll have to evict families. I know it's a business, but I'd hate to have to put someone's kids on the street.

Hello,

My wife and I are currently trying to finalize a deal on purchasing a duplex in Lansing, Michigan (not East Lansing). It is our first investment property and we will owner occupy one side and rent out the other. One side is vacant and the other side is occupied and the renters have approximately one month to move after closing. In our contract, the seller will transfer the current lease and security deposit to us upon closing. I have several questions and any answers, comments or helpful  advice is greatly appreciated.

1.) What is the best way to screen tenants? (we're extremely concerned about this since we'll be living next to them)

2.) Does anyone recommend getting some type of legal help in drafting a lease? 

3.) Any areas in Lansing, MI to avoid? (ie bad tenants, high crime)

4.) Are there any local real estate groups in Lansing?

5.) Since it is our first rental, how long should we wait before we look for a new tenant? (once we verify lease, once current tenant moves, after all repairs are done)

Again any input/advice is greatly appreciated!

Thanks!