All Forum Posts by: Rod Hanks

@Joe S.

Nah you are not being paranoid at all. 2 large indoor dogs can do some damage. If it’s 1 I would consider but 2 is a hard pass for me.

@Soung You

Section 8 is great but don’t think you can buy a junker house and just rent it for top dollar to a section 8 client. There are inspections that are very detailed. Also if you just do an average or below average rehab you will get a marginal tenant. I rehab my properties very nice and get great credit section 8 clients who take care of my properties for a long time.

Foremost is the leading market for mobile homes but I do have a couple other options that may be more competitive. Let me know if I can help.

Unfortunately rates fluctuate from time to time with all insurance companies. That’s why it’s imperative you have a good independent insurance agent on your team that can shop the rates for you every couple years. Let me know if I can help.

I recommend a special form replacement cost policy with at least 1 million in liability coverage. I would also suggest a loss of rents endorsement to cover rents during a period of a covered claim while the unit is undergoing repairs.

@David C.

1 million is more than adequate for most landlords. Especially if you do 1 million on each house and have a 1 million umbrella for the business. 10-20 million is excessive and will most likely will get rejected by underwriting unless your rental income is in the millions or you can justify such an amount.

@John S.

The max loans are for conventional conforming loans. There are plenty of lenders that are non confirming, portfolio or commercial that don’t have any limits on number of mortgages.

@Mitch Moctezuma

Each situation is different so consult with your CPA who would be able to give you the best advice. Everyone will give you conflicting answers on this forum based on their situation.

@Matt Ruttenberg

Hard Money Lenders love those deals

@Kevin Oberlin

Exactly what it cost to fix.