All Forum Posts by: Rod Hanks

@Viraj Pateliya

We can do that for you. We are in most states and would love to help.

@Brandon Rush

The problem with taking out the “middle man” on maintenance requests is that you run the risk of a tenant calling your vendors for unnecessary service calls that you have to pay for. For example I’ve had a tenant call me with a major electrical problem in the bedroom (I.e. lights don’t come on) but really the problem was the light bulbs were out. I’ve also had tenants call me that the AC was out but the problem was the breaker had tripped. Also there is no hot water but really the pilot needed to be relit. In those cases you would have been charged trip charges from your vendor for unnecessary trips. If you don’t want to be the “middle man” I strongly suggest you get a property manger or a good trustworthy handyman if your rental portfolio supports that expense.

As a rule I stay away from HOAs. You don't have any control over when they will raise the dues or when they will hit you with an assessment. Also they could change the rules on renting out your unit and it may be hard to sell to an owner occupant if the complex is unwarrantable. Overall HOAs are baaaad as an investor unless you own most of the units and run the HOA.

Use the BP calculator it will give you a good start.

I use Buildium and I have been pretty happy with it.

@Chelsea Meyer It's to sweeten the deal for the seller. They know for sure I'm closing with no inspections or financing contingency. It's actually quiet common for off market investor deals.

@Chelsea Meyer I always make the offer based on what I was told and then get the documents for verification before I execute a contract. Most of my deals are with no option period.

@Jesse Castro I do a lot of different marketing but this deal was a referral. I use cash or line of line credit on most deals.

@Joy Hughey  Call George Ross at RCN Capital 860-432-3956

To buy in an LLC it has to be a commercial loan. If you insist on a conventional loan buy it in your name and transfer to an LLC later. That may trigger the due on sale clause however. With insurance its better to use a commercial product and have the insured as the LLC. But you can have the insurance in your name with the LLC listed as an additional insured. LLCs are for liability purposes, so I always recommend the mortgage and insurance in the LLC name only.