All Forum Posts by: Ariel O.

@Account Closed

I will only speak to non recourse. Definitely available above a mil, under a mil mostly common in seller financing.

@Account Closed

Fancy seeing you here, glad you found something :-)

40% expenses is usually when you own or manage some of the utilties/infrastructure (well water, septic etc), and 30% is a ballpark where everything is city and direct or submetered (gas and electric excluded).

But basically take the P&L during due diligence and rip it apart. I have made offers based on rent rolls and then when I get a real P&L and real access the price drops dramatically because the owner "forgot" to factor in something.

The money needs to come WITH the application. They hand you an application or fill it out online, and pay then. There is no reason for you to shoulder the cost of an eviction and background search without having the $$ upfront. That's standard practice everywhere and Trenton should be no different.

 Of course, but now you have to collect. It was more people who had left the property and lived in another state. You can charge back 6 months. So imagine you move out and then charge back 3 months later or something..

It's hard to figure out who would or wouldn't pull this kind of action. I actually have figured out a few ways to do it but not going to post trade secrets on the board ;-)

@Curt Smith  It was worth it just to see the giant sewage lagoon nestled in the rocky mountains. The thing was so non compliant, it had a sprinkler system that would spray sewage mist over tenant homes, and occasionally the owner had to scuba dive down to fix it. 

@Jarrett Schaef 

Go to http://www.mobilehomeuniversity.com .

By the course. Go to the class. Best $$ you will ever spend.

@Rob L.

That's what everyone says about a lot of things (you only wish you have insurance when the house burns down). It's human nature.

The big issues with credit cards are chargebacks, and the big issue with ACH is similar (60 days with Fed Regulation E). The consumer just says the charge was fraudulent, and you can fight it, but you won't always win. I come from the consumer payment side of things so I've dealt with this stuff a fair amount, and I am always curious to hear that most managers aren't aware of it. There's a giant thread on the NARPM group in LinkedIn with all sorts of managers who got burned, actually.

@Jim Johnson Yup, I saw it over on Frank and Dave's forum, I guess I didn't remember where you posted it.. 

@Glen S. 

No personal experience, but there's a smaller one for sale on Auction.com. Might be worth it to keep an eye and see how it prices out.

@Jim Johnson 

Much appreciated. I'll go elsewhere then, not going to waste too much time arguing the point with these people.

Back to more phone calls (not robo!), letters, etc.