All Forum Posts by: Nicholas Armstrong

😳 Talk about daunting! @Peter Mason

And thank you so much @Elizabeth Colegrove I'll definitely read your article!

So can I put any addendum I want into a lease agreement??

@Account Closed

It would be owner occupied.

 @Peter Mason 

Great to know, Thanks for the wisdom!

I would like to know the answer to what @AUDREY DESOUZA asked, Peter.

Could you give us an idea of some things you missed?

@Cameron Skinner

You're absolutely right. I understand it is a long game, Im content with what I have as of now. I just want to build Longterm wealth for my growing family. It's just nice to see someone being above reproach.

I see you're from PCB. Me and my wife hope to invest (or live) there in the future! It's our annual vacation destination.

@Cameron Skinner 

Refreshing to hear, especially for a beginner! Thanks!

Hello Everyone!

I was interested in seeing how you fellow landlords go about drafting a Lease Agreement?

Do you use a professional such as a RE attorney or did you borrow a draft from someone and edit it to your preferences? I do not have a property just yet but I would like to be ahead of the game and get a draft written up (or borrowed) before I purchase the property.

Thank you for any input!  

 @Curt Davis

Thanks so much!

@Curt Davis

Although it is a small duplex, It is actually in a good neighborhood. It does need to be renovated though. I was actually very surprised to find it. Trust me, I wouldn't want to bring my family somewhere they wouldn't feel safe, Hah. But there may be some things about the duplex that I'm missing or unaware of.

And as far as the loan..

I understand there is a maximum amount allowed for repairs, but I was wondering if there is a minimum amount they will loan for the property. The duplex is being listed at 30k and I understand that certain lenders do not lend less than 50k for properties and wondered if that would be an issue?

Hey guys! I've found a lovely duplex in my area (just outside the Birmingham AL area) It is in a B neighborhood and it is listed at 30k. I am considering house hacking this property. But it needs a lot of work and I would like to get a 203(k) loan. Is there a minimum loan amount for a 203(k) loan? Any help would be greatly appreciated!

Hey @Michael Rothenberg 

I am also a resident of the Birmingham area and would love to network with you! I am new to REI and would love to soak up any information you may have about our area. Happy Investing!