All Forum Posts by: Adrian Smude

Quote from @Adrian Smude:

Quote from @Timothy W.:

Quote from @Henry Lazerow:

 Real estate should at a minimum get you 6% Cashflow + 8% appreciation  and 2-3% in mortgage paydown all based off a 25% down payment.

You can do that or better on dividends and not have tenants.  The only advantage on real estate in this scenario is depreciation.

Wow, I commented a month ago that the people making money off of BRRRR was the preachers, not the doers of the BRRRR. This thread is proving me right. It's all the real estate agents, brokers and other vendors servicing landlords talking about how great it is. Not much from owners who built up a portfolio of 20-50+ units using this. Pay attention. Their money is made on you continuing to transact in real estate, not you maximizing your own profit.

 Great observation!  

 Thanks.  Saw you're a mobile home landlord.  VERY very smart down here.  I've been in the insurance claims business for 20 years and not everyone gets that a modern mobile home tends to weather a hurricane better than most framed homes.

Buying a property, fixing it up, and refinancing at the higher value will never stop. This has been going on for a 100 years lol. @Adrian Smude

Quote from @Henry Lazerow:

 Real estate should at a minimum get you 6% Cashflow + 8% appreciation  and 2-3% in mortgage paydown all based off a 25% down payment.

You can do that or better on dividends and not have tenants.  The only advantage on real estate in this scenario is depreciation.

Wow, I commented a month ago that the people making money off of BRRRR was the preachers, not the doers of the BRRRR. This thread is proving me right. It's all the real estate agents, brokers and other vendors servicing landlords talking about how great it is. Not much from owners who built up a portfolio of 20-50+ units using this. Pay attention. Their money is made on you continuing to transact in real estate, not you maximizing your own profit.

Putting money in a CD making 5% but with 3-4% inflation is only a real return of 1-2%. Real estate should at a minimum get you 6% Cashflow + 8% appreciation  and 2-3% in mortgage paydown all based off a 25% down payment.

Hello. I am looking at a property in North Florida for purchase. It has a guest house on the property. One home was built in 2014 and it is a stick built home, the other one is a mobile home from the 70s.

My agent says they can only except cash offers due to the year the modular/mobile home is built. I suggested we remove the value of the mobile home from the loan and qualify based off the land and stick built home, but he told me in order for the bank to finance the deal the mobile home would need to be removed from the property.

Can anyone help add some clarity as to why this is? I want to purchase this home with the mobile home, but it sounds like if I want to finance it that is not possible.

1202 N Bracewell Dr Plant City FL 33563
Very Clean Plant City, FL SFH on Corner Lot (NOT IN MLS)
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3 Bedroom 2 Baths SFH on corner lot in desirable Plant City, FL.
Clean and well maintained
Huge master bedroom with en suite - potential to split into 4th bedroom
Kitchen recently updated
HVAC replaced less than 5 yrs ago.
Roof @ 10yrs old.
Fenced yard with driveway and covered carport.
Located close to I4 and within blocks of downtown Plant City!

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Buy: $200K
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ARV: $300K without adding 4th bedroom

Closing on October 6, 2023.
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Quote from @Adrian Smude:

I love the Lakeland market.  It's become popular so it's not as easy to find great deals as it once was but we are still buying.  What will your niche be?
Why are you looking at Lakeland? 

Hi Adrian, I'd love to connect. I'm looking in Lakeland because it's more affordable than the Orlando market. Its still close enough for me to manage in my own.

im looking at new construction with incentives to close. One big incentive for me is fixed lowered interest rates that manau builders are offering now. 

I invest in mobile homes and teach the topic because not many people are. There’s less competition!  
I love the cash flow and that’s one of the first things that attracted me to mobile homes. They are also recession resistant. 

Are you talking about in a park or private land particularly? We have lots of both in the area I’m in. This is really interesting to me because I own three manufactured homes on private land. I always thought that the depreciate in value vs a stick built home. But they have proved to be good rentals.