All Forum Posts by: Trevor Tilton

And things were always going bump in the night. All the neighbors said they painted rooms that funny things were going on in. Whether it works or not is irrelevant because like Brian turnbough said you are taking corrective action and they can't break their lease. Maybe you will get lucky and have a placebo effect!

This sounds stupid but I grew up in a historic neighborhood

I started my business with $20,000 and a zero interest card 8 years ago. It worked great! I was able to quit my job and grow faster than ever! If you manage debt responsibly it can be the best tool in your toolbox.

I'm sure an attorney would recommend his or her service. It's just a shame to leave those 30yr loans just sitting there.

Hi Aaron! I wouldn't start any of them. I would buy houses in my name to take advantage of the 10 properties you are allowed to get 30 year fixed financing on. You can only get commercial financing with an entity. In most cases the risk you take with buying rentals without an LLC can cheaply be insured around and provide adequate asset protection. This is just one mans opinion! Hope it helps!

Hi John! As a rule we try to have 4% of each property's value on hand for repairs. Any less than that is dangerous, any more than that and that's money you don't have working. This system works great for us!

I would go with the single divorced man if his background check comes back with no record of landlord complaints or lawsuits for back rent. Credit score is not a huge factor for me because in my market it is much cheaper to buy than rent, so if they could get a loan they would buy a house rather than rent. I find single men take good care of properties most of the time. His income is more than sufficient but I would also check that he does not have any judgments against him. You can look anyone up on casenet to find this info for free. Hope this helps!

It sounds like you are in a springboard position for fast growth! What we do is purchase homes that need work for cash, renovate them, and then refinance them at 75% appraised value. When done correctly you can pull your entire investment and then some back out. This eliminates the need for flipping to get capital to buy rentals. You essentially sell the house to the bank without paying capital gains, retain 25% equity, and still get monthly cash flow! Repeat this process over and over and it is sure to be a full time job!

We use Jeff Green. He specializes in real estate and is awesome!

Originally posted by @Bill Kennedy:

Welcome to BP! Do you have any projects your working on right now?

 It's been a busy week!  We finished a renovation and rented that home, started renovations on a new home, and refinanced two other homes.