All Forum Posts by: Dustin Lavender

Ryan Cash you absolutely can buy properties with an LLC. I do it all the time. Make offers under the name of my LLC, write contracts and close on deals.

@Derek Luttrell regardless, leases matter. I stand by my above comment.

It all depends on her lease and how it is written and worded. I would visit with an attorney on this issue with lease in hand so they can go over it. Legal or not, a landlord can literally make her life horrible, so I would weigh the costs of fighting with them.

I use a website called rentalutions. It syndicates to a bunch of other sites that syndicate to others as well. It is awesome for a single property that you are having trouble with. Paid, you can list multiples with them, or you can do one for free. I rarely put out a yard sign anymore due to the 3 am, Sunday dinner, and calls that go like this "oh hey dawg, this is so and so, saw the sign at your house yo, this place fo rent?" .......me:"Yes it is" ...... "Okay dawg Imma call you back, after I get with my baby momma boyfriend, see its be me, my girl, my baby momma, her brother, and her boyfriend. So Imma let you know." .....dial tone. Five minutes later .... " oh, hey dawg, what's the rent on this house we are super interested!?" ....me, "$750" .... "oh snap dawg, he said 750!, okay yes sir, so we are looking for one in the $500 range." .... me: " this is all I have open now and rent is $750, $550 deposit." .... "okay man, we'll talk about it." .......4 minutes later ...."hey man, so I get paid next Friday not this Friday, and baby momma ain't got a job right now, but we got like $317, and was wondering if you would let us pay it out." .....me:"no sir, we require the full deposit and prorated first months rent to be paid at lease signing." ..."okay dawg, it's all good, I'll let you know" ......2am, 5 missed calls .....2:05am voicemail....."hey dog, I know it getting late, but uh we was all wondering if we could come look at the house we are over here now if you are around... let's us know oh yeah man do you allow pets, cuz we got 3 dogs." Day two, remove and burn yard sign. Good luck buddy

awesome is this to be a fix and flip or buy and hold?

Aliyah Conley I personally see no benefit in paying all cash, even if you get a 10% discount, all of your money may be tied up in this one property. If you can pay 15%, financed out over 20 years+, you potentially buy 3 of these deals with the cash you have in hand. Money tied up in one place is never good. Of course this is just my investment strategy. You said it was an investment property, but are you planning to buy and hold or flip it? Paying all cash for a buy and hold could take you forever to get the cash you have in hand now, back out of it.

I don't think you should have to do a heloc. Go to your lender and say I want to use equity from "A" to purchase "b" make sure that they understand you want to use the equity for down payment and closing costs AND cash out any extra equity. At closing all the paperwork gets completed, the equity loan on "A" gets rolled into the loan amount for "B" and you walk away with a check for any extra equity. I do this in almost every deal.

Thanks @Ronnie S. the hard part is  continuing to grow. Everyone says that they want financial freedom, but I honestly think we will be working for ourselves in the next few years and not someone else. 

@Thomas S. you should pay for a burn phone, set it on silent and check you VM twice a day like 9am and 3pm. And don't take calls after 5. Too much stress answering 24/7. When I list a place for rent I get calls at 2am sometimes from crack heads. Obviously I don't answer, but I want to pick up the phone and be like, "do you know what time it is! There is no way I am ever renting to someone who calls me for more info about a property at 2am!"

Chris S. we never, ever hold a property for anyone. We did at first, but then often times they sound convinced on the phone and change their mind when they get there leaving you high and dry, most time having turned someone else away. Now the rule is, if you want it, show up first and pay for it.