All Forum Posts by: Adam Juodis

Hi everybody. I have yet to purchase my first REI, but I am planning to early next year. I'm trying to knock items off the list now to prepare. One of these items is a rental lease agreement. I'd like to write out my own, detailed rental lease agreement, so when the time comes, I have it saved and ready.

I was wondering if there was helpful guidelines, or a good reference I could use. Also, can a rental lease agreement work for any town/city in the United States, or are they structured around the local landlord/tenant laws? Thanks!

I agree with @Rosston Smith. BiggerPockets is the best source of information. You should never pay a guru thousands of dollars for their 'get rich quick' spiel. Guru's are master marketers that can convince any newbie that their REI methods can get loads of money with minimal effort. You can find all the info you need here, for free. You just need to be willing to dedicate your time and effort. Its not easy or hard, but in my opinion it is certainly worth it. Do your research and get out there!

Welcome Judah! Remember to fully complete your profile! You will find that BiggerPockets will be the best real estate learning tool out there. Be sure to listen to the BP podcasts. I listen to them while driving and I have learned so much just from that. Also, start reading REI books! Here's a list of some of the best REI books out there(See link below). If you study hard, and do your due diligence, your odds of making fewer mistakes and becoming a successful real estate investor will be heavily in your favor. Good luck!

https://www.biggerpockets.com/renewsblog/wp-content/uploads/2016/03/The-Best-Real-Estate-Books-Ever.pdf

You could introduce the idea of seller financing, dependent on who the seller is. If the seller owns the house free and clear, or maybe they're nearing that retirement age, seller financing could be appealing to them because you give them the house payments, as well as the 'loan' interest you would be paying the bank, or a hard money lender.

@Charles Burns Welcome to BP! I have not yet made my first REI purchase, but am planning to soon. I see you are ready to move on your first deal. Make sure to complete your profile so you have more credibility to other people who come across you on the site - it may lead to a potential partnership. Also, I recommend listening to the BiggerPockets podcast. Even if you are knowledgeable enough to engage on your first deal, you can never know enough. There's hidden gold in the podcasts. Good luck on your first deal!

@Brandon Turner The man, the myth, the Legend! 

I did not see that specific link, but the BiggerPockets Best 21 Books Ever link is very similar. I'm just going to have to dive in a bit deeper to make my decision. Thanks, and keep doing what you're doing. Big fan of the podcasts, webinars, and your rental property book was excellent as well!

Hey David, I would be interested! This is a great idea since there is no other REIAs nearby.

Edit: just noticed this was from 7 months ago.

Congratulations! I still have yet to do my first deal, but I hope to follow in your footsteps come early next year. I am curious, if you don't mind sharing, around where in Joliet is this property located? Good luck on your next property!

Edit: Nevermind, I see the album has the property address haha!

I just finished "The Book On Rental Property Investing" by Brandon Turner, and I have to say it was a great spectrum overview of the buy and hold side of REI. I'm trying to choose another book now, but I'm unsure which one i should commit my time to next. I have not invested in any properties yet, but I am planning to in the early next year. I hope to in that time read a few more books.

Having listened to 100+ podcasts, I've heard repeatedly the name of many recommended books. I know there's also the best 21 list by BiggerPockets, but its tough to dissect the book by its cover/overview. 

Rich Dad, Poor Dad I feel is more for grabbing peoples interest in Real Estate, but my interest is already there. The four hour workweek seems like a way to better automate your business to save time, but I am not at that stage yet. 

I am looking for a book that will help me expand my knowledge in buy and hold, and avoid mistakes. Would Millionaire Real Estate Investor, The ABCs of Real Estate, or "How I turned $1000 into 5M..." be worth my while? Please help me decide my next read! 

@Chris Tan do you know the next time this Naperville REIA meets?