All Forum Posts by: Rod Hanks

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.

I love buying houses with existing tenants in my market because there is less competition and I usually get a better deal than the flippers who need it vacant. With that being said you are inheriting the tenants good or bad. The vast majority of the tenants I've inherited are good and have stayed. Just make sure that they sign your lease after their current one is up if you decided to keep them. Before buying just get the payment history and current lease and a walk thru to make sure they are the kind of tenants you want to lease to.

@Kenneth Brown

Section 8 is just an income source. Advertise the property like you normally would for rent and put section 8 ok. Screen the tenant like you normally would have except for income. If acceptable at that point you will get a landlord packet to take to the section 8 office, it’s really easy. Once you have signed up as a landlord with one property it even easier to put more properties on the program.

@Marsha Burks

Definitely not something I would allow on my property.