All Forum Posts by: Rocky Verteramo

Thank you Jamie!

Yes my lawyer is a RE lawyer. I actually told my friend after he drew up the contract that I would feel more comfortable if my lawyer would look over it. Also, I want to do my own search on the actual value of the 2 homes just to make sure. I thought it was a good deal, but I always make sure I don't rush into something that sounds too good to be true, just to be safe!

Hi guys!

I have an investment opportunity that I would appreciate your expert advice on. Sounds like a no brainer, which is why I am extra questioning it and making sure I don't miss anything that could screw me!

A friend of mine who I invest through has another group of investors that needs $20,000 for a reno project on one of their rental properties. They will be paying me 10% on that 20,000 for up to 3 months. They are putting two of their properties up as collateral. If they don't pay me back in full with the 10% in the 3 month contracted agreement, Those houses would be mine, each valuing between 25,000 - 30,000.Deal or no deal?

Thanks for any advice or input in advance 

Rocky

thanks!

Hello Terrance. What system are you using for this? ( I meant to post this at the discussion time, but I see I never actually sent it).

Thanks

Also, how about background checks? Or forms for that?

Hi guys!

I am in the process of making sure I have all the correct forms and such to get ready for rental home purchases and tenants. 

1. What is the easiest best way to screen / check credit reports for tenants? 

2. What are all the forms I should have a tenant fill out before I allow them to live at my rental? So far I have the following : Application, Landlord verification form, Rental application, Tenant reference form, lease. Am I missing anything you could help me out with? 

Thanks for the help!

Mindy! How did you know my old QTPi e mail address?! haha kidding! Great ideas guys. I will be able to by SOME homes with cash, others I will be able to get financing easily, and if I have a lot going on at once, I wont be able to purchase. Should I still state I can pay cash? Or mention pay cash or easy financing? What would be the way to go with that? I don't want to get a few calls and say "sorry I cant pay cash this time" then not get called again by someone.

thanks a lot for the advice guys! 

Thanks Al! I'm trying to acquire buy and holds while being a landlord for those homes. With the fix and flips as of now I'm doing the investing, and I have a partner who usually finds the houses and sets up the Reno work and sale of the flip.i plan on keeping it that way for a while.

thanks for the adivce! Will check on the post cards!