All Forum Posts by: Keith Belzner

Hi @John Powell,

 I have worked on commercial pols for over 25 years and I will tell you that if you have never removed and replace a liner just pay the man to do it for you. Now I would say get a few more quotes but this is not a diy project. 

1. is the pool currently empty? If so you may have damaged the walls already.

2. how much do you care about wrinkles? A pro will use a heavy duty vacuum to make sure it is right.

3. Will you have to replace or regrade to substrate that makes the bottom "smooth and soft"? Again not easy. 

4. Liner pools are a lot easier to fill in then concrete pools. Just saying :)

@wayne brooks

I dont think im using whatifs since this was actual sale.only unknown numbers were piti and utilities but it is a close est of the area. Recent homes sales near this one have been selling at 7 - 10% below. Most of these homes have also been close to the same list price. Now does that mean they were overpriced to begin with? What i did not take into account is any repairs the homeowner made beforehand.

Hi BP, 

 I have been working on figuring out the true cost in percentages of what the seller loses when their home is sold the conventional way. Here is what I've come up with,  please correct me if I'm wrong or off. Real world from a recent sale In my area.

list: 215k   Sold: 200k   dom: 130

(Assumption) PITI: 1300$ utilities: 250$ = 1550$ month x 3 months = 4650$

200k - 4650$ = 195350k. -  11% below list

commission + close = 8%

195350 * 8%= 15628$

195350 - 15628 = 179670$ net to the seller

for a grand total of 17% below asking price. 

I plan to show those with expired listings or before they even put it on the market that i could save them thousands through seller financing such as lease options. 

Here is my personal opinion. I have talked with @brian gibbons a few times over the phone at great length about rei and his approach. I am very interested in investing the way he teaches, it appeals to me greatly. I am working on getting the fees to sign up with him, hopefully within the month. I watch every video of his and read everything he posts or writes else were. He has not coached me but i have learned a lot. 

Just my 2 cents

@Dawn Young Yes almost all of the parks are rentals with about 30% year round residents . They even offer management services in house. I was searching online  and found some with monthly ground rent at $300 month. I know that with the large influx of international students that come over for summer jobs that they can and are rented out for the entire summer.

Hi BP,

So I had thought about even before I looked at REI, I know its not new but what are your thoughts on beach mobile home rentals? Living in Maryland there is plenty of beach towns withing 2 1/2 hour drive for most and OC Maryland is a family tradition for many around here. I have always gone to Rehoboth Beach De. My wife and have always thought about buying a MH as a weekend getaway but I saw the potential for profit.

We drove around last year looking at some MH parks that had homes for sale and wow, we found many that were under 10k that needed work but not a lot, 5k at most. With rents at 1100 - 1300 weekly with ground rents around 450 - 500 month to me the cash flow would be worth it,

Ex.

1100 (week x 4 x 3 months of summer)= $13200  (not including extended sept. season for weekend rentals)

$500 Gr = $6000 year

other expenses = $2000 (est )

$13200 - $8000 = $5200 cash flow year

after the first year I would look to buying at least one more 

Anyone here invest in vacation mobile homes? Looking for advise.

Hi BP,

I am a new investor looking for private money and or someone looking to do JV with me to help get me on my way.Here is my business plan.

Looking for properties to do one of the following (in order ):

1.buy and hold short term- finding tenant buyers to rent with option to buy within 12 - 18 months.

2. buy and for to rent. build cash reserves to be able to re-fi within 5 years.

3. buy and rehab

These properties are in better neighborhoods Baltimore county with avg purchase cost's $145k to $175K. With cash behind me I will be able to make lower offers with immediate closing.

Looking for lenders who can help:

1. fund 100% of purchase

2. fund 100% of rehab cost

3. besides normal interest I am willing to give up equity to help make the deal more appealing.

For ex. here is a deal that i was not able to do anything with due to lack of funding.

HO owed 180k. needed 30k to move with arv of 265k w/rent at 1850- 2000

I was unable to come up with the 30k to make it happen. I could have rented for a year and resold for 245 - 255k

-- 

Hi BP,

I feel the need to give a shout out to @Brian Gibbons.

Even tho I am not ,at this time but plan to be, one of his students he has been a huge help in my REI business growth. He has allowed me to talk at length on the phone about concepts and questions that I have in regards to options and buying/selling with different forms of option deals. Just today he spent an hour of his time to explain to me how a property im looking at might be a deal but only with the proper tools to help the seller, which I know I have limited knowledge of. As soon as I am able I will be in touch with Brian about singing up for his program.

Hi BP,

 I am looking for Private lenders in the Baltimore area, for buy and holds and rehab if the property warrants it. My location is in Baltimore county, Perry Hall / White Marsh / Nottingham. Most properties in this area are A B rentals with minor work needed to them. Typical rents start at $1500.

My main need is being able to offer down payments on them.  

Hi Bp,

Just wondering if you can ask a seller of a currently MLS listed house if they fail to sell and it becomes an expired listing to give me a call? Is it legal? How about a yellow letter or post card saying to some effect, " i see your selling your house, if are not able to get your price give me a call........"