All Forum Posts by: Chris Seveney

Need to review what they are providing. Many are not turn key and do not include HVAC systems, hot water heaters, stairs, foundations etc.

Make sure the park allows rentals. I know some parks to not allow rentals and must approve the owners as well

Thank you all for the information. Very helpful

Found an off market multi family that a women wants to sell (she is elder and husband recently passed) The duplex has two tenants but she noted they have been on month to month for years. Told me what they pay but had no lease. Also she has no financial records as she gave discounts for paying cash etc. Is there any other way to analyze the deal ? Based on current market rates in the area it would cash flow $200/door after putting in 10% capex/PM/repairs (10% each) Should I be suspicious and is there a way to protect myself. I don't have accepted offer etc. Any advise appreciated Thanks

Check out YouTube - many audio books you can listen to on YouTube That's where I listened to emyth and rich dad poor dad

Do your research most tax deeds that are over the counter are there for a reason - typically the lot is not buildable

Without knowing how much each aspect of work will cost it is difficult to evaluate. On all scenarios I would fix all code violations and make sure you are providing a habitable environment and fix all leaks. Also remember leaks lead to mold so if they are active you can be pretty sure there is mold. Evaluate all options and $ out of pocket and returns. Also what is your exit strategy - if you hold long term or short term (5 years) and flip. It comes down to the numbers.

Looks like a very good deal.

Send me PM to discuss

More information would be needed to analyze such as what size were the other homes etc. if they were 2000 SF homes at $100/SF (which is bare bones) you are at $200k per home, plus you have land development costs, permits etc and the cost of land which is $90k per lot (assume other is knock down). My first incling is this seems steep - along with first poster I think lot prices would need to be under 20% for you to make any $