All Forum Posts by: Rod Hanks

@Josiah Hrusch

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

@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.

@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.

@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.

@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.

@Jeff Langley

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

@Matt Huber

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

@Jeffery Drayton

I really wouldn't worry about forming an LLC until you have 5-10 properties. Just get an adequate amount of liability insurance and conduct business the right way. The cost wouldn't justify a LLC with one property. As far as triggering the due on sale clause ask your bank if that would trigger. If it's a single member S-LLC it shouldn't trigger it. But even if it does I've never seen a bank call it due with a mortgage that's paid on time.

@Isaiah Doss

Not worth the risk. His real question is how does he sell his house without his wife knowing and getting half the proceeds. In Texas the wife owns half whether she contributed anything or not. If you do this deal you won’t be able to sell it later because the wife owns the other half. If you insist on doing the deal offer him half the value of the property because he is only selling his half. I could gone on with a lot of reasons why I wouldn’t do the deal without title but I think you get the point.

@Alon Niv

It’s still hot!!!