All Forum Posts by: Andres Needles

Its in Colton- Maggie Hartwick

Hello all,

I live in Central coast CA and we have a few rentals that we bought and are holding (I manage and do most of the work on them).  We've done 4 RE purchases and one sale so far so Im a bit of a newbie, but  I have some experience.  

Here's my situation.  A family member just went into managed care and we need to sell his Mobile about 5 hours away, currently residing in a MH park in the inland empire area (SoCal).  Its a mess, needing a new roof, complete rehab inside, as it has not been updated since 1977 and hardly cleaned since 2000.  

Once we clean the place out, how would you go about finding a "flipper" for such a place?  Is there a way to get it to go to the highest bidder rather than dealing with just one offer??  We are talking small change here-  Its probably worth less than 15K as is.    The $$ will go into his trust for his ongoing care.   

If we dont find a buyer, we could just walk from the place and let the MH park deal with it, but that seems unethical and rude.  

Hello all,

I wanted to get a sense of where folks park their cash or borrowed funds while waiting for the next reasonable deal they can find (a couple 100K).  Im in CA, and things are looking pretty frothy again, but we want to be set to buy locally if it drops in a few years.  We are willing to  try to grow our nestegg  a bit, with the risk of losing some of it ( up to say 10%) over a few years.  We have other relatively stable sources of income (state jobs) and savings.

Id love to hear from other investors regarding their preferred vehicles and why-

Thank you all for your thoughts!

Andres