All Forum Posts by: Courtney Cook

Thank you! I'll check him out.

 Jeremy, thanks so much for your recommendations! I'll check them out.

Everyone, thank you so much for your feedback. There are some other considerations as well, and I appreciate each of you taking time to reply and share you thoughts!

I have a long-term rental in Calera, AL and have agreed to offer the tenant reduced rent in return for doing substantial work on the house. I'm looking for a real estate attorney who can help me put together a custom rental agreement to ensure everyone involved knows what's included/expected, and to make sure all parties are protected. Lease will begin March 1, 2024, so I'm looking for someone who currently is available to work on it.

Thank you for any recommendations!

Courtney

Hi - I have a single family property in Calera, AL and a tenant with whom I've reached an agreement for them to receive reduced rent in return for doing substantial work on the structure. I have a couple of questions about this:

1. If you've done this type of agreement, please let me know if anything came up that you wish you had known at the beginning of the agreement.

2. Does anyone have a real estate attorney in the Birmingham/Montgomery/Calera, AL area you would recommend to help put together a custom rental agreement?

Thanks in advance for any feedback!

Courtney

Hi @Andreas Mueller! I'm looking to meet fellow investors here in Nashville as well. Would love to connect! I'm pretty new here in Nashville.

Courtney

Hi! I'm fairly new to the BP community, have been listening to the podcast since January, watching the webinars, bought most of the books and am currently reading Brandon's "How to Invest in Real Estate." I'm looking for my first deal and have been told by lenders that I have a "unique situation." However, I doubt that I'm the first person to be in this situation, so I want to share my story and thoughts so far, and see if anyone else has been on a similar path, and hear how you navigated it.

I was laid off from my job in Los Angeles in March 2020 and moved to Nashville in November. I'm from Birmingham and that's where most of my family is. Nashville and Bham are the two markets I'm looking at right now to begin investing.

I'm looking for work, but haven't found it in my industry (events) so far, so I'm still unemployed.

I will be a first-time home buyer with a good credit score, but I don't have a downpayment (that money was spent on my move!).

Since I don't currently qualify for conventional lending, and don't have a downpayment for an FHA loan, I'm looking for a private lender or a partner. A lender just told me about a DCSR loan and I'm looking into the feasibility of that.

Based on what I've been learning on BP and from the forums here, I was initially looking for a house hack in Nashville, but have begun thinking that a flip may be the best idea to start so that I can make money to invest into the next property. I'm interested in a BRRRR as well, but think the flip is still my best beginning option. I have agents in both Bham and Nashville who are working with me, and I'm also looking for off-market properties in the neighborhood where I live just outside of Nashville. Because I have time right now, I'm planning to transfer my event management skills to general contracting and hire subs for the rehab.

There are so many creative options out there, but based on what I've shared, does my strategy of finding a partner or using a private lender to purchase and rehab a flip to then have some money to invest in the next property sound like a good strategy to those you who have been doing this or who've been in a similar situation? 

I'd love to hear your thoughts, affirmations, corrections, and any other good stuff you have to share. Thanks so much!