Congratulations on purchasing your first property, especially at 25 and fully self-funded!

He told me that I was "soft" pre-approved for the amount that we tried for (200k) but needed a 20% down payment or 40k in the bank at the time of purchase.

Having professional docs like a note, deed of trust, or JV agreement is key.Speed vs.

Try to get a contract signed, get contractor agreements signed (W-9, waiver & release's, Insurance request, general timeline of project & something that states they'll get paid upon the city inspectors approval).

Do we need to legally give it back to them (and then recollect it) and act like we are signing a new tenant, with new lease agreement etc...We are definitely making a new lease agreement, but not sure about the security deposit or how to handle current damages. 

It is my favorite mode of real estate investing as it offers a way to bring in more income, gives tenants the benefit of a good rental at a lower price, and provides the landlord with less risk as we are able to have them on GAR lease agreements. 

When the seller signs my Purchase and Sale Agreement (PSA), it usually includes a clause that allows me to file a Memo.

If the payment is not received by then, you may request a late penalty—just as you would from a tenant who pays rent late under a private lease agreement.

Hi there I recently bought a home located in Indiana and I downloaded the biggerpockets lease agreement, but I'm having trouble understanding the residential lease addendum and amendment.

I have potential pruchase agreements in multiple states, and was wondering if there were any tips and tricks to this trade.