All Forum Posts by: Brandon Siewert

I think in this case make them a reasonable offer since you'll probably be doing this repetitiously they'll appreciate the gesture and be more willing to put forth the effort for real work. 

I probably dont have enough info to make an educated assessment, but with $9k gross cash flow, once you factor in some maintenance costs, depreciation (appliances, mechanicall equip, roof, etc) and management costs (even if you self manage) and vacancy net cash flow might be kind of low.  If you live in it, at least you're living semi rent free.  Either option is probably about the same net result, but you could build some equity.  Others will probably have a more educated assessment, just an opinion, good luck!

I may be biased because I work in primarily commercial work, but if a GC asks for money up front its an automatic decline.  I am not opposed to draw at pre defined milestones but money up front is a red flag for me.  If they dont have a 15 to 30 day line of credit for materials, its a good sign they're cash strapped.  I know it seems hypocritical for investors seeking OPM to have this mentality, but it's an important consideration.

I havent done all the math, but I agree w @DevanMcclish deferred maintenance could be an issue.  The upside with leases being week to week it gives you a lot of leverage to renew or get rid of leases to more favorable terms.  Could be a good opportunity but you need a good plan to turn it around or you'll be an employee for the park in no time.

thank you all after spending a few hundred dollars to find out things I already know, BiggerPockets is the most realistic site out there and the podcast is amazing

I agree with everyone get a competent professional opinion but you have a myriad of potential opportunities 

I think if you have a rental that rents for $`1000 or $500 and cash flows the same dollar amount or rate of return it doesnt matter what the rent rate is.  I think if you're going to have a rule of thumb it should be rate of return or monthly cash flow or both.  Gross rent doesnt meant much

I've been in commercial real estate and construction management for over 20 years, recently deciding to take the plunge and rehab on my own. Pretty low on capital, seeking capital partners. I have one SFR rental I'm rehabbing (again) to sell it for more capital. I dont really want to be LL for awhile.

That sounds like a great deal. I've been doing this type of work for 20 years as an employee and recently formed my own company to buy flip and/or hold and would jump at an opportunity to partner like this I have tons of resources and experience but cash is low

I dont have any money so my consideration of the Tiny House was short lived, but I do think a TH development could be feasible as an alternative people wanting a smaller space without having to live in an apartment or trailer.  You could develop the park with SolarRoadways developing road surface technology.  I've never ran the numbers but it seems like there could be a demand and return.