All Forum Posts by: Rod Hanks

Hi,

Is landlord insurance always more expensive than homeowner insurance? 

I have a home in California and investment property in Dallas and I'm noticing this difference. Maybe its a state by state difference? But my insurance for investment property is more than my home in CA. Just curious is its normal that homeowners insurance is always cheaper than landlord insurance.

Thanks!

so if there's a change of ownership the new landlord will not be able to collect more than $12,480 property tax or $2,500 insurance? 

"You" as the tenant correct? We will be the landlord.

We just made offer for  a retail property and some clauses in the lease agreement that we couldn't understand. Can anyone comment on this?Anything will be really helpful?

Thanks in advance.

13 .Taxes : Does above mean Tenant will only reimburse landlord's tax up to $12,4800 in the first year . How does the per diem clause work?

Does landlord gets reimbursed full property tax amount for the rest of the terms?

12. Maintenance and repairs :  

It looks like Landlord will only be reimbursed up to $1,500 if any parking structure repair incurred by tenant .

Insurance : Does this mean Tenant will only reimburse landlord's insurance up to $2,500 in the first year . How does the per diem clause work?

*Closing Day* I closed on a 4-unit building and got PAID to BUY this cash flowing asset. I structure the deal to walk away with $5,000 and now i’m the owner of a 4-unit🏢.

I was my own real estate agent and insurance agent on the deal. The attorneys involved in the transaction were surprised how I was able to pull this off but I did a lot of research and preparation for this day.

Thanks to the team at @veteransunited for financing this deal. Also huge thanks to @attyreynoldslaw for their expertise in real estate law and helping me along the way!!

I’ll be posting more on this deal breaking down the structure of it, commission splits, and my plans with real estate. 1st major deal for Golden Heights Holdings!!

Insurance for AS-IS HOME Hello someone can recommend insurance for a property with 17-year-old roof with 3 years remaining useful life

I currently have one SFH rental, which I've had for several years now, but looking at a 5-plex. It's not section 8 housing but it's a lower income housing complex. Any general advice/tips on ways on how to improve overall cleanliness deal and navigating trying to keep it a drug free complex? Anyone successfully try to incentivize current tenants to get their spaces cleaned and and better cared for? TIA

This thread is exactly why landlords are almost universally hated. 

Do you have liability for it? Probably not. But you are a business owner and you have customer. Your tenant is your customer, and you have the ability here to step up and provide great customer service for hardly any money at all.

Instead of trying to figure out who owes exactly every nickel and dime, provide a great experience for your tenants. Provide them stellar customer service. Then your turnover and vacancy rates will plummet, and your tenants will start giving you referrals to other great tenants for your other units.