All Forum Posts by: Rod Hanks

Is it typical to have to pre-paid a full year of insurance on a portfolio loan? I was told my closing cost would be 5% but after receiving the itemized list of everything included it’s more like 15%. 

Hello 

i am owner of 3units Multifamily home in Connecticut. My property manager is asking copy of my social security card for new Section 8 tenant paper work. 

I am kind of new in this MF investment and want to check if it is common procedure for Section 8.

(title is under my personal, not LLC)

Thanks in advance.

Please talk with an eviction attorney.  Some of the ideas you have here can get you in trouble.

You should have no trouble getting rid of this tenant cleanly if you follow the law.

Hello BP brain trust.  I've got a lead on an off market coastal beach house property that the owner wants to sell.  The house is a fixer upper from a hurricane last year.  I'm being told there's currently litigation going on between private insurance adjuster and the insurance company for the hurricane damage and that they wont be able to sell until after the litigation is complete.  But they're open to any loop holes.   Does anyone have suggestions how I can buy this property sooner?  Any suggestions are appreciated. 

Thanks,

ND

Taxes are $315 a year, management is 7% ($126).  I did however miss the vacancy at $90.  Still comes in around $300 a month.  There is also room to raise rent.  There is currently one listed on the section 8 website for $1900, as soon as it's rented I can use it in my comps. 

(I just noticed in the photos it has a new/newer AC)

Any input on best insurance provider for a 2003 double wide on land it’s a rental ? 

Thanks for all the responses. To clarify, the insurance co. already made a payment for the actual cash value for the damages indicating that the rest of the approved funds would be dispersed upon completion of the repairs. What I've been told is that code requires replacing the decking and underlayment when there are gaps in the wood planks as is common with older homes and that because it is a code issue and my policy has code upgrade coverage the policy should cover whatever is necessary to be code compliant.