All Forum Posts by: Misty Quaintance

If I have a guarantor sign an addendum to a lease do I need them to provide their social security number or drivers license number? The form I have from Bigger Pockets pro membership asks for social security, but the first person did not fill this in. I'm wondering if this will be an issue or if I can ask for something like a drivers license instead. Arkansas is the state where the rental is located.

I definitely want to use someone who knows the process because I don’t know that process at all. It makes sense to get an agent and pay them a lower commission than the usual 6% it sounds like and yes planning to take a contractor with me. This deal would be a cash offer so no financing. Thank you for the comments here.

I am looking into an off market deal. The house can use quite a bit of work, but it would come at a pretty good discount. I would want to have inspections done and title search/insurance - I’m not sure how it works when you buy off market as far as if you use a realtor or not. I’ve always had a realtor for every other transaction so I’ve never had to look into this process too much. I’m looking for any advice on how to proceed to make sure everything is done properly while not paying the full realtor fees. I’m not opposed to paying a realtor something, but I would think since they never had to show a house or do any of that first process there might be a different fee associate if you engage a realtor. 

 Thanks Taylor that's something good to consider.

@Chris Seveney I've looked at MTR this one could go either way. It is near a university so could be a long term rental if MTR doesn't go the way I'd want it to. Unfortunately STR isn't a possibility with the area. Thank you for the info though. It is along the lines I was thinking with pros and cons. One of my bigger concerns I guess is how do you handle when to replace the roof or exterior stuff - seems like you'd need to be in agreement with your neighbor and while that could work out great it may not. I'm not sure if the HOA steps in for that sort of thing or just up to the owners.

Looking to do a midterm rental. There's a condo available very very close to the hospitals in the area but no single family homes atm. I have dealt with a HOA before and have mixed feelings on them. I like that they keep the neighborhood up and at a higher level but obviously more rules aren't fun. I'm looking for any pros and cons people see about going with a condo over a single family home.

 He not a specialist. It is a small town however this guy seems to handle most if not all of them. How would I know if it will be insured? I do have the judgement. 

Thanks Don - that is exactly what the attorney told me too. I appreciate the info.

Thanks for the advice Patrick