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All Forum Posts by: Rod Hanks

Rod Hanks has started 8 posts and replied 569 times.

Post: What increases value of property

Rod Hanks
Posted
  • Insurance Agent
  • Dallas, TX
  • Posts 588
  • Votes 370

@Juan David Maldonado

Find a couple houses in the neighborhood that are similar to yours that have sold for the value you think yours should be and upgrade it the exact same way. For example, if the other houses have granite counter tops, new windows, new hvac, ceramic tile etc. upgrade yours the same way or better.

Post: Help. I Inherited a Property that need rehab. I have no capital.

Rod Hanks
Posted
  • Insurance Agent
  • Dallas, TX
  • Posts 588
  • Votes 370

@Barrington Webb

I would suggest you sell and work on your credit for the next rental. If you scrape up funds to fix it and get a bad tenant you will wish you had sold it. Bad tenants are very expensive and this is not the business to be in with little to no reserves.

Post: Does the Agent push me to make offer?

Rod Hanks
Posted
  • Insurance Agent
  • Dallas, TX
  • Posts 588
  • Votes 370

@Tony Zhang

The market is hot. She has no reason to lie about multiple offers and a deadline.

Post: Deal assessment, and advice

Rod Hanks
Posted
  • Insurance Agent
  • Dallas, TX
  • Posts 588
  • Votes 370

@Josiah Hrusch

What's the ARV, how much to fix it and what are market rents?

Post: First Rental Refinance suggestion

Rod Hanks
Posted
  • Insurance Agent
  • Dallas, TX
  • Posts 588
  • Votes 370

@SivaNaga Prasad Shola

Those terms seem reasonable for an investment property. But I would compare the rate without any discount points to see if it makes sense to pay to lower the rate.

Post: Should I kick them out at the end of the lease???

Rod Hanks
Posted
  • Insurance Agent
  • Dallas, TX
  • Posts 588
  • Votes 370

@Michael J.

Two things I love as a landlord. 1. Pays on time 2. Fixes what she breaks. She’s a good tenant just request that she communicate more.

Post: Termite fumigation - tenant occupied

Rod Hanks
Posted
  • Insurance Agent
  • Dallas, TX
  • Posts 588
  • Votes 370

@Lynette Pang

Everything is predicated on what the lease says. But I would think the right thing to do is for the landlord to pay for hotel why the unit is being fumigated.

Post: Partnership question- acquiring a new property

Rod Hanks
Posted
  • Insurance Agent
  • Dallas, TX
  • Posts 588
  • Votes 370

@Lauren Cook

80/20 seems one sided. It seems like you are doing all the work. You are worth a lot more than 20%. If you find the deal the money will follow. There are plenty of silent investors who will give you a more favorable split than 20%. Personally I wouldn’t do a partnership less than 50, unless the partner is doing all the work and I’m just providing the funds.

Post: 15% or 20% down? I can't decide

Rod Hanks
Posted
  • Insurance Agent
  • Dallas, TX
  • Posts 588
  • Votes 370

@Jeff Langley

I always try to get into a property with as least invested as possible.

Post: Not going to renew lease - any notice required?

Rod Hanks
Posted
  • Insurance Agent
  • Dallas, TX
  • Posts 588
  • Votes 370

@Matt Huber

No one can answer that question without looking at your lease. My lease says 30 day notice which is pretty standard.