All Forum Posts by: Alexa Davison

Quote from @Chad Davis:

@Alexa Davison May be able to assist but need more information ( Rent Roll, Expenses etc). Are the homes park owned or owned by the individuals living there?

 Of course. The park owner owns the land as well as the units. Thank you!

Hi all!

My management team and I are actively seeking a bridge loan for our 28 unit mobile home park in Lakeland, Florida. Any referrals or knowledge please don't hesitate to reach out. Thank you!

Quote from @Jordan Moorhead:

@Alexa Davison great area! Do they have any interest in selling that park? I'd buy in central Florida

 Hi, they are not selling at this time. 

Investment Info:

Small multi-family (2-4 units) fix & flip investment.

Purchase price: $252,000
Cash invested: $150,000
Sale price: $430,975

AirBnb aribitrage for 9 months before selling

I have 3 deals I have sourced/packaged for investors or agents (with referral fee)! If interested in more info please message me!

1. 3/2 1,912 sqft with an in-law suite; 1/1 512 sqft. Purchase 299k. Rehab est 183k (482k). ARV 732k. Spread 250k. Holding time expected to be 9 months.

2. 3/2 1,162 sqft. Purchase 250k. Rehab around 90k (total 340k). ARV has an average of 400k depending on rehab choices. Lowest end of ARV would be 350k, highest 440k. 6-9 month holding.

3. 2/1 922 sqft. Purchase 225k. Rehab 70-75k (total 295-300k) ARV of at least 400k. Holding time should be around 6 months.

Hey Brandon! I am an agent as well as a property manager for a 28 unit mobile home park in Lakeland.. I may be able to help. Feel free to shoot me a message any time!

Quote from @Logan M.:

I checked her lease and she is month to month. Once we fill a few vacancies we have she is outta here!!!

Then she can exercise her 5th amendment right all day long.

 Hahaha! I have had so many conversations go exactly like this in the last 2 years. After serving a 3-day notice due to nonpayment, I received a text from the tenant praying for me, asking me to turn for my wicked ways because Jesus is coming back soon! 

I have switched from year long leases to M2M for many tenants and have had much better luck with it. My mobile home park has been undergoing some major renovations as well, such as freshly paved roads, updated septic system, fencing the property, and security cameras, on top of typical rehabs of each unit. Prospects actually seem to appreciate the offer of month to month because I advertise that since we are going through renovations, a non-binding lease does not make them feel hostage to a park under construction. It's a win-win situation all around. They don't feel stuck and pay as long as they'd like to stay, and as a property manager, I can provide a 30-day non-renewal in the case that they are bad tenants. You are absolutely right that you can never make anyone stay, leave, or pay if they don't want to.

Quote from @Robin Simon:

Quote from @Alexa Davison:

Quote from @Michael Smythe:

When we buy, we always try to have multiple exit strategies.

Were you able to refinance to pull your cash out?

100%. Always expect the worst but hope for the best, right? 

Yes, we did refinance.

 How did the refinance go - are you cash flowing and in a good spot, or still just buying time with eventual goal to flip

Buying time with the goal to flip this year. I tried the short-term rental deal for most of last year but didn't realize how much skill it takes.. haha! Currently have a property management company running it as an AirBnb for the time being, they just took over end of December 2023. Being that we are entering peak season for STRs, we should be seeing positive cash flow within the next 2-3 months. 
It is in the heart of South Tampa, Florida.. so it's in a great area in close proximity to everything here. 

Quote from @Toni Myaer:

Quote from @Morgan Gutierrez:

Hey Toni, welcome to BP!

Being an MLO could potentially open doors through creative financing for you. 

Congrats on starting your portfolio and wanting to continue to build it! Having both long and short term rentals are a good diversification method! 

Are all of your investments in FL?

Hi Morgan, and thank you for the welcome.  Yes - they are both within 45 minutes of where I live, and I manage them both.  I'd like to look for good deals elsewhere and hire a management company. 

Hey Toni! I'm Alexa, a Tampa native, agent, and investing mentee. So happy to connect!

I currently have a property management company running one of my rental properties after I tried and failed with the short term rental market - there is definitely a talent for it:). Have you had a positive experience with your rentals? How are you finding new deals? I'd love to chat more with you if you're open to it!