All Forum Posts by: Andy Bauman

Hey Travis!  I was going to this meetup in person a while back, but then I think it stopped around COVID.  How long have you been running it again?

@Erin Church - Thanks.  That is interesting, I have not heard of the city/county not allowing to tap into existing sewer connections for a mobile home.

@Robert E Bogino - Thanks.  Starting with the end (sales price) also makes a lot of sense.

I think the hardest part will be finding land that is affordable that I can do this with; ideally something I can subdivide into smaller parcels and finance along with the home on the land.

I have not done this yet, but it is my list to tackle next.  Would you mind sharing a few pointers with me on what to look out for?

 I have used ACE to do owner financing, but I was mostly wholesaling land up there.

 I have used a few different companies up there for different things.  ACE title was great but I mostly use Lighthouse Title & Closing services; both in Manchester.  What you working on up there?  Send me a message.

Thanks Joel!  DM sent

Looking for some referrals for foreclosure lawyers in Riverside, CA area.  I have a lot of vacant land with a power of sale clause and buyer has stopped paying.  I've never done a foreclosure, so looking for someone I can trust to help me out.

Do you already have a price to purchase that vacant lot?  Would you be able to move the property line to include your HVAC units and resell the vacant lot for a profit?  That MAY help you hit your numbers and achieve your objective.

I'm really not sure how you expect anybody to help you with so little information.  When evaluating mobile home parks you would need to know about market value of current homes, are they single wide, double wide, is the park 100% full, are the utilities public or private, if private are they in good working order, what are market rents for homes in the area, what are rents for apartments, how much is the lot rent, how much are they paying in rent on each home for the 50% currently owned by the park, is it in a good market, are the rents being paid at market, are the lot rents at or below market, what are the real estate taxes, is there rent control, what capital improvements are needed for the park, etc...

I specialize in vacant land.  

@Account Closed - I'm not sure what you are referring to here, but this year I made $143k on a single property flip after only owning it for a few months.  I flip a lot of vacant land, the key is to buy right.  Maybe you are referring to what I call "making it developer ready", in that case there can be some unknowns and it can take a while to get though the upgrades and enhancements for the planning department, utilities, roads, etc...  But the payoff her is usually huge, again; assuming you buy right.

@Account Closed - You are correct if you are referring to land in CA.  CA has had Prop 13 on the books for many years and that limits the % increase that can be applied to land until a new property transfer transaction happens.  However, there are many states and the counties that reevaluate land values each year.  Some states and counties keep the assessed value to a percentage of the market value (e.g. 20% to 80%), some attempt to get at full market value, it really just depends.  I have bought and sold land in 6 different states in the last year and they all have different ways to assess land.  In SOME places the assessed value can be very different from the actual market value of the property; in others it is usually very close.

@Account Closed mentioned, look into the details of the sales and see if they are buying blocks of lots or single lots.