All Forum Posts by: Sergio Aguinaga

@Matthew Otto

Year 1:

contribute up to the match. Then open up a Roth IRA and max that one out. Then create a good emergency fund. Then contribute to HSA. Then if you have more left, put it in the 401k. While all this is automated, spend the entire year learning about RE. There's a lot to learn.

Year 2:

Match 401k

Contribute to HSA and make sure that’s investing.

Get your first RE deal.

Repeat.

@Theresa Harris oh okay I understand. I want to add that line to the lease or addendum (which ever I use), but modifying these documents without an attorney looking over it makes me scared. I don’t know if setting up an appointment with one just to ask that is worth it. I already modified my lease with one.

@Edwin L. An addendum being a sheet after the lease ends to renew the contract right?

@Daniel Suarez I do have that book. I’ll have to go over that section and document again, but I think I skipped it because it’s just 1 sheet. Is that better than signing the lease all over again?

@Theresa Harris aah I see. So you don’t give any of those documents from the first time you rent to them like lead based paint pamphlet. Also, do you use a new lease and sign it again?

Hello everyone,

I have my tenant on a 6 month lease and it’s time to renew her lease. I already gave her the itemized checklist which she returned, and a pamphlet and sheet about lead based paint back when she signed the 6 month lease but on lease renewal, it would make sense not to give these documents again. What are the steps for renewing the lease in Michigan? Obviously landlord tenant laws say that I must give a pamphlet, itemized checklist and all that good stuff on signing of lease but what about on lease renewal?

@Devon Kennard hey it looks like you’re in Detroit. So am I. We should meet up and have a coffee sometime and talk real estate.

@Jian Lin in order:

Rich dad poor dad

The book on rental property investing

Book on managing rental properties

Building wealth one house at a time

Book on estimating rehab costs

Read them, in that order.

@Lori Greene thank you I’ll look into that post.

@John Mocker gotcha. I did get DP3 quotes from American modern and foremost. Which one do you think is better? They both have terrible reviews. Do you think looking elsewhere to farmers insurance or a big insurance company like that shopping around myself is a better idea?