All Forum Posts by: Jonathan Mulkey

Thanks for all the thoughtful and helpful replies to my first post. I know mistakes will be made in this new venture but it really helps to have a community of experts available to guide me along the way. Very much appreciated.

@Jacob Simpson that’s what I was afraid of. Rookie mistake. Thanks for the help.

I'm a new investor based in Chattanooga, TN. I just closed on my first rental property and it is tenant occupied. I'm in the process of setting up the new lease agreement and I want to keep the terms the same as the previous owner. They have been there for 2 months already and they paid the security deposit and this month's rent to the previous owner. What is the best way to update the lease agreement and should I ask the previous owner to transfer the funds for the security deposit and pro-rated rent for this month?