All Forum Posts by: Erle Mcdonald

I have eight tenants and all paid in full.  They work in retail, corporate and self employed areas .... I was not concerned for April 1st rent as much as May 1st ... that will tell the story IMHO.

Karen,

I am a very active investor for over 15 years from Carmel CA and I am in the process of purchasing a second home in Bend and will be doing some investing in the area while living in Bend part of the year.  I would love to meet some of the local investors!  If you are putting together a email list for the meetup's please reach out to me and I can provide a email address.  Thanks in advance!

I look forward to meeting you all!  Erle

Carrie,  I would shy away from this deal due the fact that the land IS NOT INCLUDED in the sale.  If I understand the post correctly .... you would then at some point be in a weak position with the land owner.  I have purchased MHP's and individual properties.  Just my personal experience, I would not purchase just the mobile by itself ... you must have better deals around than this one.  I would keep looking unless you were able to get the mobile for around the 20K owed and have a LONG term assumable lease with the land owner that is cheap enough for you to cash flow in the 15-20% cash on cash return +

I have used it for years and it is the best in the California market ... I have purchased 40+ properties using it ... great product and great price in my opinion!

Welcome James, I live in Mid Valley and welcome you to the forum. I do a lot of SFR, commerical (downtown monterey) and smaller Multi investments. I know most of the local players in commercial and like you find it very interesting. Maybe we could get together for coffee sometime.... Good Luck!

I am looking to purchase mobile home parks in or around the Oklahoma City area ( OKC .  Looking for all grades of parks from small (20) up to 100 space parks.  Will consider all parks EXCLUDING parks that are on Lagoon.  I prefer city sewer and water (surprise !) but would consider septic for the right park.  Please PM or reach out if you have any possible options.  

I am a experience investor with resources and will act quickly.

I have been in that situation a few times prior.  Have you reached out to the prior owner to see if you can make contact.  I located a prior owner and had them sign a QCD (for 500.00 worth of compensation) and then used this document to deal with the bank (Wells)... If that's a option then I would do that .....

If that does not work I would get your legal involved to have them notice the bank via certified mail and see if they can stop the FORC process and get a current payoff

Michael,

I am an investor who lives in California and owns property in several states.  In California the FTB (Franchise Tax Board) will require you to pay the entity fee of $800.00 per year (per entity) if you are a California resident.  The fact that your entity's holding is out of state does not matter as you are a full time (assuming that) resident of California and they will require it.

With this in mind, it is just easier to form the entity in California as the ongoing fees are relatively the same.  I have S corp's and LP's for my entity's.  I hope this helps a little! 

Will do ... thanks Erle

We are looking for a GC for a full rehab and paving project for a property located in Eustis FL (*North West Orlando area).  Project needs a full rehab and some grading and asphalt paving off of HWY 441 in Eustis.  If anyone can recommend someone I would appreciate the lead.  Thanks.