1st Rental Property closed 5 days ago

2 Replies

Finally pulled the trigger on my first rental property.  Hopefully I can get the reno done in 6 weeks and rented by January. I have read the books and listened to BiggerPockets. Any advice is welcomed. I need to get all my forms and contracts before contractors start work, not to mention lease agreements etc. 

Does anyone know of a good package of landlord forms that I can by and tailor to my needs?

thx

Day 1 (10/6/17)

  • Closing

Day 5 (10/11/17)

  • Got water service landlord agreement $25 app fee and $75 meter charge
  • Got power as additional service, need to add landlord agreement from the website $30 service fee

You did more than 99% of people do. You identified a property and then pulled the trigger, so congratulations. The next step is not to find generic contracts. It is to hunt out the right attorney in your area like you hunted down your deal. This will pay you dividends. Trust me. I am speaking from experience. Find that young, hungry, savvy attorney who gets it. Someone who is willing to build a relationship and business with you and doesn’t just want to hit you with a stack of billable hours.

Thanks. Fingers crossed, I might have an off-market deal on a duplex in a good area. It needs work, but the value is there. Has taken 3 months so far...

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