All Forum Posts by: Gretchen Parlier

Has anyone invested in a condo complex? Not bought a condo to rent, but actually bought the complex?  I have a lead on a small complex, but how is buying a 10 unit condo complex different from a 10 unit apartment building?  I know the residents are owners not tenants.  What else? Thanks in advance! 

What is the best way to lower your exposure risk when purchasing a vacation rental at the end of the season?  I have a chance to buy a nice one, but by the time the deals closes, the prime season will be over and I’ll have to carry the property with minimum income until next year.  Any suggestions on either negotiating a better deal with the seller or covering this some other way?  Thank you!

@Paul Moore I decided to pass on this deal.  It is 8 acres with a small mobile home park, two SFHs, and a triplex.  All are in excellent condition.  I think it is probably a great investment - for someone.  Mobile homes are just not what I’m looking for right now.  

My original plan was to scale up from my current assortment of duplexes and quads to a larger complex of 10+ units in 1 or 2 buildings.   Besides appreciation,  I'm concerned about higher maintenance for multiple trailers.  And going through the process of converting this to a tenant owned home park. I know it's not rocket science,  but am I buying myself a job?

Thank you everyone. I received a response late last night. So it took about three days. I will remember to put a time limit on it for the next one! On to negotiations. :-)

How long do I wait to hear if the seller has accepted my LOI? This is my first attempt to scale up to a larger property that is considered commercial, so while I've educated myself on the process, I have not seen how it works in practice. I don't want to appear anxious, but I'm anxious!!! Lol

My original plan was to scale up from my current assortment of duplexes and quads to a larger complex of 10+ units in 1 or 2 buildings.   Besides appreciation,  I'm concerned about higher maintenance for multiple trailers.  And going through the process of converting this to a tenant owned home park. I know it's not rocket science,  but am I buying myself a job?

I’m trying to replace my W-2 income with real estate.  I currently own several smaller rentals and now I have a deal that may help me reach my goal, but it’s not what I had in mind when I started out.  It is a mix of multifamily and mobile homes on one large parcel.  It’s a big investment for me and while I am definitely a cash flow investor, I still want appreciation and mobile homes don’t seem to fit the bill.  This is an extremely well kept property, so no concerns there.  Has anyone changed up their criteria slightly if they come across a deal?  Do I modify my expectations?  Does it matter, as long as it cash flows?   My intention is to hold forever, but what if I want to refi?

@brianboyd I am also in NY, although upstate.  I am very interested in investing in the Knoxville and middle TN areas.  Any recommendations on the best segments there?  Do you use property management?   I currently have 12 doors here and self manage. Thanks!

New York is on the verge of passing a new law restricting landlords ability to collect last months rent at lease signing.  Also limits rent increases, changes eviction timeframes, etc.  I'm interested to hear how everyone plans to deal with the new changes and what you think we can do to protect our interests. Thank you!