All Forum Posts by: Aman S.

Thanks @Josh McCullough . Thanks for your feedback on boot camp.

Is loopnet a good source for finding MHPs? Any feedback?

I use QBO plus version, I have never used desktop version. I started with a regular QBO and it was a nightmare as I needed to have expense account for each property but now with plus version I can use classes. I wish I could do one more level of categorization like holding LLC level, flip vs rentals etc.

Overall it is a good experience and if you are a costco member there is a discount on monthly fee.

Thanks a lot every one for response. I am looking for parks with in 100-150 radius of Washington DC. I am actually thinking about taking http://www.mobilehomeuniversity.com/about-us.php boot camp. Any feedback on this boot camp? @John Fedro please let me know if you get any leads in VA/MD area. I am planning to use regular bank financing with 20-30% down. Any guidance marketing for motivated MHP sellers?

@John Vashon Where can I read your article on MHP due diligence?

I am looking to buy a mobile home park. I have experience in approximately 100 single family deals but have not done a mobile home park deal so far. What are the typical cap rates these days? How much down payment is required by banks? What is the best source for park leads? Any other suggestion/ideas on how to get started in mobile home parks?

Thanks

Thanks Steven Hamilton II.

Some brokers like Etrade let you borrow against stocks if you don't want to sell stocks. I have borrowed money from Etrade with my stocks as collateral to invest in my flips . Worked really well for me, interest rate is approximately 7%. However if you can get a cheaper financing for long term rentals that can be a better option.

I am looking into ifinace from Guidant to start a C- corp with moving funds from my SEP IRA to solo 401k and 401k will own all the shares of C-corp. Is that the right vehicle for flips and rentals? I have been told that if both me and my wife contribute 1k each to solo 401k , C-corp will be allowed to contribute 34k each for match. I think there is no restriction in being active in that C-corp. Any feedback/suggestion?
Here is a link to business financing using IRA funds
http://www.irafinancialgroup.com/businessfunding.php

I am not looking to buy any tapes, I am looking for individual single family home notes. I am new to this notes buying line and my total budget is 500k to start with.