All Forum Posts by: Rod Hanks

@Kenneth Burke

That would be good for your accountant but I don't think so for you. Look up Series LLC that may be a better option if available in your state than a separate LLC for each rental. There are some guys that do 5-10 properties per LLC but it would be an unnecessary expense for a LLC for each rental.

@Daniel Walton

You can’t keep the deposit because she had a boyfriend living with her. If she left the place in good condition upon move out you have to give it back along with an accounting for what you deducted for repairs cleaning etc.

@Alex Grosvenor

If you buy retail deals off the mls option periods are common. But if you are buying wholesale deals from other investors or directly from homeowners you probably won’t get a option because there are too many investors that offer cash with no inspection contingencies. You can’t around it unless you are the only one with an offer on the table but that’s very unlikely with the competition in DFW.

@Maya Patterson

REISKIP

@Jeff Plotkin

If this is a rental property we have a program that can get it done that includes builders risk. Most homeowners polices require the property to be ready. If there are extensive repairs you will need a builders risk policy. If just minor make ready repairs it can be done a homeowners policy.

@Peter Sik

That’s a lie! Fair housing laws are federal laws not local laws and it would be silly to believe the federal government will tell a landlord to buy an AC filter only from a property management company. If they are lying about that I wonder what else they are lying to you about.

@Joseph Gibbons

Liability and maintenance are huge issues with rentals and pools and the main reason why it’s not recommended.

@Edward DePalma

Section 8 is great but they will cut rents in a downturn also. In 08 they cut all payments across the board in Dallas.

@Bellman Tumasang

1 and 3 yes I’m not sure about 2. It’s best to call Buildium directly. But I love what it does even though I’m not using most of the features.

Great question! I use direct mail to absentee owners, website SEO, and telemarketing