All Forum Posts by: Daniel Warren

im about to get my first rental locked down so I was wondering if anyone could help me with an Arkansas specific lease agreement or point me to any links for some good info on the subject. I know for 100% legal advice consult an attorney, but figured I would see what you guys were using or what resources you may be structuring your leases from. Thanks

@James Wise

Thanks! I'm trying to get it locked down. I told my wife if I don't get one now, I will be 65 still thinking about wanting to get into rei.

ok thanks. Would I make the earnest check out to the buyer or ask her what title company she wantsto usee and make it out to them? I'm gonna call the title company Monday as well.

@Jon Klaus

Thanks man! Should I try and lock it down with a contract to buy and money down first?

thats a NICE match. Mine is .50 on the dollar for 4%. I thought about the same thing when I started saving for rei. My thoughts on it was this, if I don't do the match, that's me telling them to please keep that money instead of putting it in my account! I did drop from 12% down to the match, but continue to put my match amount in.

im paying 11k cash and it sits on 1/3 acre with a fenced in back yard and I'm looking to get 450/m rent for it. I plan on holding this for a long time so when it comes time to exit I should have my money back a few times and would probably carry the note on it. My main issue is I don't really know what I need to do for closing. When I bought my house the bank handled everything all I did was sign papers. There is no bank this time so I don't know exactly what I should be doing besides handing over the cash.

after a little analysis paralysis, a little disappointment, and a lot of searching, I think I'm finally ready to get my first rental property. I need a little advice on the process though. I will be paying cash and I don't know how to go about doing everything. I have only bought when I was financing through the bank before and they done everything. Any info here will be greatly appreciated.

The deal is a 1987 16x80 3/2 with an addition. Been fully remodeled throughout and is very nice. Will be getting the home and lot. I'm anxious to finally put some action with my thinking and planning, but don't want to miss an important step in closing the deal because I don't know the process. Thanks

@Karen Margrave

hi thanks for the reply. yeah I know its a tough business. I would have someone in place doing the actual mananging, I just plan on forming the biz and buying the trucks! just an idea. any money it made I would use to buy more real estate.

this feels like a scam to me.

@Adam F

yeah definitely was NOT on my career choice list. not hard feelings for my dad as he was doing what he could to take care of his family, but I would never take a job I had to be away like that unless it was last option.

@Jon Klaus

yeah I have noticed it cycles. Im just hoping that after I get some properties rolling good, I can buy a couple trucks and trailers cash and get a couple drivers. start local with logs/grains and if I come across a good freight broker for hire, maybe buy a couple of coast to coast rigs and expand