All Forum Posts by: Joe Funari

@Morgan Hagan sent a connection request. Look forward to sharing my lessons leathered here in the DFW area as an investor.

@Bob Woelfel If tenant has been behind on rents and not paying their utilities then I suggest you evict her. Especially if demand is high for the location of the rental. Treat it like a business. I have learned some hard lessons from giving into to tenants trying to convenience you that they will be on time with rent, etc. Lessons learned from this is that if you acquire a property that has a tenant behind on rents have the previous owner either collect or evict them before closing. 

@Jason Smith I recommend Mark Roland with Foursqurare Insurance. He works well with us investors and even has a loss of rents rider that is amazing. Also, all his landlord policies have a builders risk clause included at no additional charge. Please let him know I referred you. I highly recommend Mark.

@Scott Reese You are correct large multi state banks do not work well with us investors. You definitely have to focus on community banks and lenders that work well with investors. But keep in mind some of these community banks will not fund longer term fixed rate notes if there are major structural repairs. Especially when it comes to foundation and roof repairs. But there are ways to make it work. But this only applies to buy and hold strategy. If your exit strategy is flips then a hard money lender is the best option. But be sure you select one that has up to a year on the terms, doesn't require builders risk insurance, and doesn't require you to escrow the insurance for the length of the loan. 

@Jaclyn Sugg Please clarify what state you need the insurance recommendations for? 

@Ankur Agarwal I recommend Brandon Stephens with DFW Prospects. He is a full time inspector and services the entire DFW area and works well with us investors. Let him know I referred you.

@Lauren Olson Ask the Realtor if they are a fellow investor. If they aren’t move on. There are plenty of Realtors that are fellow investors. They understand they will be pulling a lot of comps for you as you look for your next investment properties. Especially if you are looking for rentals. You need to get not only the sold comps to see if property is priced right. But you also need the rental comps to ensure you do your own due diligence and property will cash flow.

@Zoe Lee Keller Services Heating and air conditioning is great for servicing HVAC for investors here in the DFW area.

If your portfolio lender won't give you a generic POF letter with a purchase amount your approved for then find a new hard money lender (HML). There are many out there wanting your business that will be happy to give you the letter you need. You need a generic one so that your Realtor can submit mutliple offers on your behalf without having to go and add the address and change the purchase price on the letter every single time. This goes back to my previous point of finding a Realtor that is investor friendly. They will definitely recommend HML's that will get you this generic POF lender.

@Ashley Deer First of all, thanks for your service to our great nation on the Rock! I am a veteran, US Army, and loved my PCS overseas when I was in. All the posts on this thread have made some great points. But feel that @Abel Curiel may be right and that your agent may just be very busy. I can't speak for the Jacksonville market but here in the Dallas/Ft. Worth area we haven't seen the slow down in starter homes that make great investments regardless if they are rentals or flips that is common for this time of year. In fact, I have 5 listings coming up in the next week for fellow investors where traditionally the month of November thru January is slowest time of year. But when your looking at 3/2/2 going for less than $200K they go quick here in Dallas/Ft. Worth. Only suggestion I can give is that if your current agent hasn't worked with investors nor is an investor too their hesitation may be because they are entering unfamiliar territory. So if this is the case find a Realtor that is a fellow investor too. As for me. Getting a custom search set up after a phone call with my clients. Yes, I do ask for a proof of funds or pre-approval letter from prospective clients first. If they don't provide one I don't help them because here in DFW area it is still a sellers market and offers get rejected without presenting one along with the buyers offer documents. Good luck in your search and keep the faith in defending our great country! Oh, and Happy Halloween!