All Forum Posts by: Blayke Silveira

@Mark Smith Thank you Mark for the game plan. Although I think it is possible that the members of the community have the ability to do rehabs on their own property, I just do not think they have the time or motivation. As this is a military community, meaning people will be moving in and out on a fairly regular basis. I have not ran a test as in facebook marketplace, but that is a very good idea. Thank you again for your time and input. 

@Drew Sygit Hi Drew, thanks for your reply. The reason I’m considering selling them back to the tenant is because the units are not in the best shape and figured that the maintenance on them would be a major headache. But considering the numbers on keeping them, that’s a valid option.

Another reason is I do not have a large reserve. Do you have any idea what an appropriate amount of reserve is for an endeavor like this?

Thank you!

@Rachel H. Thanks for your reply Rachel, it has been very helpful!

@Mark Smith thank you so much for this information I will definitely use it moving forward! Excited to finally be getting out there and for the things to come. Best of luck to you!

I am currently analyzing a deal in Idaho that includes 5 manufactured homes that would be owned by me and not the tenants. The numbers seem to work but I do not know if there are other things I should be factoring into the analysis. So far I have this:

Purchase Price $225,000

Down: $45,000

Rent Roll -$3300

NOI - $1652 (After deducting 5% Vacancy and 25% for Maintenance and Property Management Fee)

Monthly Net - $900 

Resulting in a 24% CoC Return and 8.82% Cap Rate. Some questions I do have: Is there some thing I can work out with the tenants so that they will own their own homes in due time? Also will this be considered a commercial deal since it has 5 units. Also what are some other things I should be aware of when investing in Manufactured Homes? Thank you so much for any information you can help me with.