All Forum Posts by: Travis Weston

So here's my question: If you are in a private deal with a seller, no realtors involved, and the home value is X, but you're able to talk the seller into selling for Y, which is less than X, would you then be able to go get a mortgage using the difference between X and Y as the value of your down payment?

I plan to maintain an in-house staff of property managers. I'll figure that into their job contract. Thank you!

I forgot to add, the initial company will be an LLC, but I am also researching and considering other structures as well.

More specifically, I'm planning a business, not a simple owner / landlord deal, where I will have a full time staff and a large portfolio of residential properties both SFR and Multi-fam.

My question, then, is if / when the time comes that I need to evict a tenant, or happen to be unfortunate enough to have a tenant sue, who is required to go to court? Would it be something I could simply send a representative of the company to court, along with my lawyers, or am I personally responsible for showing up at each and every hearing, as I would be the owner of the company?

As with everything else in this business, it really comes down to tenant screening. If you get the right tenant into a place, they're going to take care of it. Location plays a large role there, if the rest of the area is top class, and you screen out all but the best tenants, you're not going to see a drop.

Another way to fight this is to take on the maintenance of the outside of the rental yourself, but this means more expenses in time and money for you. But if it's a major concern, I would build it into the lease, and do regular, weekly, yard work.