All Forum Posts by: Abby Robinson

@Dave Rav: Thank you for your response! I’d be interested in getting on the email list for NAI. How’d you manage that?

I haven’t spoken to any CCIMs yet but we did finally speak with an agent in the Port St Joe area who knew her stuff! We will likely be investing in this new asset class as soon as we find the right lender. I’ll keep you posted! Thanks again!

Hello BP Fam! My partners and I are visiting Port St. Joe, FL, affectionately named "The Forgotten Coast" for vacation this week.  I've personally visited this area multiple times for vacation, the most recent time being right after hurricane Michael demolished this area about 4 years ago. The biggest difference we're seeing in the area this time around is the number of RV parks/lots with pole barns on them. This seems to be a hot commodity here and an asset class that my partners and I are interested in investing in as soon as possible. We are experienced investors, as we currently own 4 SFHs, 2 duplexes, and a 9-lot mobile home park (we property manage the MHP) in Charleston, SC. We're very eager to break out of our market and get into some long-distance investing. We've tried speaking to some of the local real estate groups here and haven't had much luck with being taken seriously. Maybe the realtors we've spoken to don't have their thumb on this particular asset class as much as they've claimed? We're unsure. I thought I'd reach out here to see if anyone is familiar with the area, the zoning requirements, the ordinances, infrastructure costs/insight, etc.  TIA for any insight!! 

Hey fellow BP peeps. We just moved to the Charleston, SC area and are quickly finding out how priced out of this market we are right now. We are looking to explore Columbia, SC. I have connections here but not there. Can anyone recommend a good GC and repair man in the Columbia area? I'm open to meeting any REI professionals to expand our team. Thanks!

Hello Fello BP Members!  I was hoping to gain some insight from anyone who has experience with the following:  I have a friend who is contributing capital in order to purchase a plot of land in FL. There are developers that are contributing 5 properties to that plot of land that will eventually partner up with my friend.  Both sides would like to protect their investment.  When should the developer receive the percentage of ownership and how should the partnership be divided up initially, then throughout the course of development?  Once each phase of the project is completed (for example, let's say there are 5 phases of completion on the developer's side)?  Or once the development is 100% completed?  In other words, should ownership increase over the next year for the developer, as he completes each phase?  I don't have much experience with contract law in situations like this but I thought this was an interesting scenario that I'd like to learn more about... and I wanted to see if anyone here has personal experience with partnership deals such as this one.  Any advice on where to delve deeper (books, articles, general insight) is welcomed!  Thank you!

Hello Fellow BP Members!  I was hoping I could gain some insight from some experienced investors about some conflicting ideas in my head about what to do with passive income earned on real estate investments.  I was listening to a BP podcast this morning and one of the hosts made a comment about how he didn't start to change his spending habits until his passive income started to increase (spending on wants vs. needs... buying a bigger personal residence, buying a nicer car, going on better vacations).  Everything I've heard and read about getting your real estate investment portfolio going has stated that you should save your passive income for your next real estate investment.  So when does it make sense to start spending your passive income on yourself, particularly your "wants" in life?  To piggyback off that, I'd love any book recommendations regarding the accounting of real estate investments, specifically when and how you should pay yourself, based on what type of entity you have structured for your real estate investments.  I haven't made my first real estate purchase quite yet, but I'm currently saving to do so by the end of this year.  My goal is to get a 5-year timeline of when I can start reaping the benefits of having additional, spendable income.  Thanks for any and all comments, BP!

@Jaspreet Baveja wonderful - thank you for confirming!

@Kyle J. - thank you. Very helpful!!

Hello Fellow BP Members. I have a private money lender who is interested in doing a SFH buy-and-hold investment with me. This isn't a partnership. His concern is that his investment won't qualify as passive income. I've done some research on my end and found that as long as the PML can show that his investment went toward the purchase/down payment/rehab of a rental property then it would qualify as passive income. I intend to utilize our relationship like I would for a hard-money lender. I would receive funds from him for the purchase and rehab of the home and then, after refinancing, pull money out of the home to pay off the debt (including interest) back to him. If this goes well for both parties, we'll likely continue down this road as long as both sides are seeing the benefit. My question is this: are there any extra steps the PML has to go through to ensure the income he receives is considered passive income? Am I completely wrong in thinking this is considered passive income? He wouldn't be receiving any portions of the rent once the property has a tenant living in it. He would simply receive the initial capital contribution with interest back.

@Mitch Messer - Great points made here in your initial post and follow-up responses!  Thanks for sharing!

Hi @Russell Jenkins.  I highly recommend "Mobile Home Wealth: How to Make Money Buying, Selling, and Renting Mobile Homes" by Zalman Velvel.  I'm almost finished with his book and it's been extremely informative thus far!  Happy hunting!