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All Forum Posts by: Adrian Smude

Adrian Smude has started 67 posts and replied 991 times.

Post: Join BiggerPockets x BadAss Real Estate Investors in Denver!

Adrian SmudePosted
  • Rental Property Investor
  • Plant City, FL
  • Posts 1,103
  • Votes 378
Quote from @Alexandra Hughes Pailet:
Quote from @Adrian Smude:

I'll be there, find me in yellow! :)

Who else is going? 


 Woohoo! See you there!


 Yay!  I look forward to meeting you. I’ll be in my bright yellow shirt! 😁

Post: Join BiggerPockets x BadAss Real Estate Investors in Denver!

Adrian SmudePosted
  • Rental Property Investor
  • Plant City, FL
  • Posts 1,103
  • Votes 378

I'll be there, find me in yellow! :)

Who else is going? 

Post: Eager Future Investor

Adrian SmudePosted
  • Rental Property Investor
  • Plant City, FL
  • Posts 1,103
  • Votes 378
Quote from @Grant Rogers:
Quote from @Adrian Smude:
Quote from @Grant Rogers:
Quote from @Adrian Smude:
Quote from @Grant Rogers:

Hi! I’ve been listening to bigger pockets podcasts for a long time while getting out of bad consumer debt. Now that I’ve ditched the car loan and the credit card debt, I’m ready to become an investor. Hopefully I’m leaving my analysis paralysis behind me. I’m interested in small multi family, mobile homes, and flipping strategies.

The forums seem like a decent first step to start making connections. I’m looking forward to meeting great people and maybe a mentor along the way. I don’t have many skills yet, but I have some landscaping knowledge, and I know how to swing a hammer. 

Anyways, I look forward to the journey, and potentially connecting with you all.

Thanks,
Grant


 Congrats on the debt pay down progress and committing to your journey!  Welcome to BP.

What's your next step? 


I can't decide between exploring a 203K loan or getting into flipping mobile homes. I recently listened to episode 976 of BiggerPockets Real Estate Podcast where the guest was explaining how he invests in mobile homes. I was intrigued by the fact that you don't need a lot of money upfront to get in.

 

 Mobile Homes treated me and my students really well!  You should consider them!  


 Where would you recommend I go to learn more?


 I’ll shameless plus a book called HOW TO BUY MOBILE HOMES. 😁

Post: Eager Future Investor

Adrian SmudePosted
  • Rental Property Investor
  • Plant City, FL
  • Posts 1,103
  • Votes 378
Quote from @Grant Rogers:
Quote from @Adrian Smude:
Quote from @Grant Rogers:

Hi! I’ve been listening to bigger pockets podcasts for a long time while getting out of bad consumer debt. Now that I’ve ditched the car loan and the credit card debt, I’m ready to become an investor. Hopefully I’m leaving my analysis paralysis behind me. I’m interested in small multi family, mobile homes, and flipping strategies.

The forums seem like a decent first step to start making connections. I’m looking forward to meeting great people and maybe a mentor along the way. I don’t have many skills yet, but I have some landscaping knowledge, and I know how to swing a hammer. 

Anyways, I look forward to the journey, and potentially connecting with you all.

Thanks,
Grant


 Congrats on the debt pay down progress and committing to your journey!  Welcome to BP.

What's your next step? 


I can't decide between exploring a 203K loan or getting into flipping mobile homes. I recently listened to episode 976 of BiggerPockets Real Estate Podcast where the guest was explaining how he invests in mobile homes. I was intrigued by the fact that you don't need a lot of money upfront to get in.

 

 Mobile Homes treated me and my students really well!  You should consider them!  

Post: Eager Future Investor

Adrian SmudePosted
  • Rental Property Investor
  • Plant City, FL
  • Posts 1,103
  • Votes 378
Quote from @Grant Rogers:

Hi! I’ve been listening to bigger pockets podcasts for a long time while getting out of bad consumer debt. Now that I’ve ditched the car loan and the credit card debt, I’m ready to become an investor. Hopefully I’m leaving my analysis paralysis behind me. I’m interested in small multi family, mobile homes, and flipping strategies.

The forums seem like a decent first step to start making connections. I’m looking forward to meeting great people and maybe a mentor along the way. I don’t have many skills yet, but I have some landscaping knowledge, and I know how to swing a hammer. 

Anyways, I look forward to the journey, and potentially connecting with you all.

Thanks,
Grant


 Congrats on the debt pay down progress and committing to your journey!  Welcome to BP.

What's your next step? 

Post: Financing a mobile home and using an LLC?

Adrian SmudePosted
  • Rental Property Investor
  • Plant City, FL
  • Posts 1,103
  • Votes 378
Quote from @Paul Ross:

We are looking at buying a park model home and land. We want to finance it, but the lenders like 21st mortgage will not loan if it's an LLC.

We are wondering how we can finance a mobile home + land but have it under an LLC instead of our personal names.

This is because we plan to Airbnb it. 

Also it is a park model which is considered and RV due to it being 399sq ft. 



Check with your local community bank and credit union.  You may have to talk with a lot, but typically every town has one that will finance them for you.  
I suggest building relationships for private money, this is how we fund out mobile home with land deals which we buy.  

Post: Thoughts on flipping a mobile home.

Adrian SmudePosted
  • Rental Property Investor
  • Plant City, FL
  • Posts 1,103
  • Votes 378
Quote from @Dominic Richardson:

What are your thoughts on flipping a mobile home? Home needs some cosmetic repairs and price at $40K. Looking for some advice. Thanks in advance. 


 You left out soooooo much info which makes it difficult to give advice...

A few questions that would be good to know...

is this the home only or with the land?

What year home?

Will it be sold to an owner occupant or investor?

Post: Where to find ALL realtors in local market's email address?

Adrian SmudePosted
  • Rental Property Investor
  • Plant City, FL
  • Posts 1,103
  • Votes 378
Quote from @Eric Morrison:
Quote from @Adrian Smude:
Quote from @Matt McCray:
Quote from @Adrian Smude:

Does anyone have a a way to find a list of ALL realtors in select cities?  I am looking to send a mass email.  I've found a few services that cost $120-$300 for a list, but of course I'd rather do it cheaper/free.  Any ideas are grateful.  

I have had great luck buying realtor email lists from
https://www.realestateagent-li...

their pricing is very reasonable and the list quality was great. 



Great link, thanks!  How are you using your list?

 I'd recommend not buying from that link Adrian as he's selling you HIS product without disclosing its his. If he's not disclosing ownership, then what else is he not disclosing about those "lists". 


 Thanks for the heads up!  I hadn't used the link yet. :)

Post: Small balance land deal

Adrian SmudePosted
  • Rental Property Investor
  • Plant City, FL
  • Posts 1,103
  • Votes 378
Quote from @Samuel Coronado:
Quote from @Jay Hinrichs:
Quote from @Samuel Coronado:
Quote from @Andrew Postell:

@Samuel Coronado are you saying that their loan to you will require you to refinance?


 I'm sorry. I went back to the post and realized I left out the actual question. I am looking for someone who would do a short term land loan. The plan is to develop the parcel and then sell it as a land and home package to a retail buyer. There was a similar thing done two parcels over that sold for $230k recently. Our target price range is 190-200k with a sales date in March. This is a spec development. 


 with builiding costs how are you going to make a profit on a 190k exit if your paying 50k for the dirt ??? 

Two ways-
1. I can use a double wide mobile home and get it bricked in on a permanent foundation. The market here treats them the same as a stick built house. 

2. The second way is using my usual network of local contractors. I give them enough business so they knock up to 30% off what they would do for a retail spec home buyer. We focus on affordable housing, so that's the reason we are trying to keep it below 200k. We could push higher, but young people are struggling to buy homes as it is. We're here to kind of make that happen on the smallest of scales. Some properties I don't try to make a lot off of because I've been very fortunate and it's a roundabout way of giving back. I just get back everything I put into it plus some overhead and a small contingency fund for the future. It's a beautiful thing. I enjoy doing it. :) 

I don't think there's a wrong approach here if both make money. It's more of a question of which works better for your current situation. :)

Post: Who brought the new guy?

Adrian SmudePosted
  • Rental Property Investor
  • Plant City, FL
  • Posts 1,103
  • Votes 378
Quote from @Dillon O'Connell:

Hello bigger pockets community, I am really excited to be here! My name is Dillon O'Connell and I am a 22 year old newbie within the wild world of Real Estate Investing. Currently, studying Mechanical Engineering at the University of Central Florida in Orlando I have 6 months left until graduation [with Very little student loans] and I have been bitten by that REI bug. I was introduced to REI after reading Rich Dad Poor Dad by Robert Kiyosaki and then finding the BP podcast [which ultimately is who brought the new guy :)]. For the past couple of months I have done a lot of listening, watching and learning about all things real estate. I am incredible motivated and I've never been more excited about getting involved but I feel stuck, so I'm seeking advise. Like I mentioned I graduate in May 2024 and I do not have a job lined up... yet, but I want to get involved now. I would really like to invest in long term rentals, but I do not know where I may end up working or living after graduation, which is leading me think of investing in non-local markets. I know this is completely possible but having a difficult time creating a strategy. I look forward to all of your suggestions and advice. Thanks everyone and thank you Bigger Pockets!

Welcome to the REI world!  Have you thought about mobile homes?  They still produce great cash flow in today's market!