All Forum Posts by: Brandon Wynn

@Matt Bonestroo awesome advice! I haven't considered working with an investor in my area but I would be open to it! I decide to not go with this deal. Thank you for the tip on FB marketplace!

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I love that Rudy! I posted some ads today!

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Josh, totally. I just didn't know if craigslist is the best place to post. There has to be a place where people looking for mobile home lots go!

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I called around. A 100 lot park has 3 open lots for a couple years and a 240 park lot has 30 vacancies. % wise, thats not high BUT if they can't fill, I may not be able to fill either.

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Hello! I am looking at a mostly vacant mobile home park for purchase. My question is, if i wanted to make some online posts or try to understand the demand for renting one of my future lots, where would I go? Any tips on how I can figure out if I will be able to fill the lots after I take ownership?

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@Ali Boone I am referring to the cap rate when I look my opportunities. Properties that are purchased for cash are refinanced so I in the end I am in the same(relative) boat.

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Originally posted by @Account Closed:

Originally posted by @Ali Boone:

Originally posted by @Account Closed:

Originally posted by @Ali Boone:

I can't speak for the BRRRR strategy specifically in those markets because I do turnkey-- numbers would be different. For the turnkeys, Arizona basically has no cash flow anymore, Texas does have some but not so much in San Antonio and Austin, and Atlanta does but inventory is low and prices are high so the returns are squeezed. How that translates to BRRRRs- buying the distressed properties, I don't know. But if you know maybe it can help some.

But more than that, I would say your primary focus should be thinking about where you want to live. No market will always be the best for investing and even if it's the best or even just good at some point, it may not stay that way. You could move to a great investor's market now and set up shop and boom, couple years later it's not that advantageous anymore. But where you want to live- that can stick around for the long haul. So that'd be my primary consideration, and then once you know that, you can decide how to make investing work there if applicable.

To me, it's never worth living somewhere I don't like just to invest. And then it's that much worse if you don't like living there and then suddenly it's not a great place to invest. Double whammy.

Your Comment: "Arizona basically has no cash flow anymore" THAT is not accurate information. I cash flow from $500 to $1,000 a property in Arizona. I just picked up three properties that cash flow more than $500 each in Phoenix. Not quite sure why you are making that comment. On second thought, don't tell anyone. why should I give my secrets away? ;-)

There you go! ;) Are those cash purchases or with financing? What kind of properties?

In my case I buy Single Family Properties that are more than 1000 sq ft and less than 2700 sq ft that are in "normal neighborhoods" where people have families and "normal" people want to live with "normal" incomes and "normal" housing costs. I don't do "D" class or "A" class properties and I focus on properties that don't require a lot of work. I don't buy with cash. (Who would and why?) I don't borrow from banks (Huh? what does that mean?) I take over the financing using Subject To, Wraps, Lease Options, Land Contracts, Owner Financing, etc. I then sell on Lease Option getting $20k to $25k down, and I charge going rental rates and the difference between a 4% loan that has been paid on for 4 or 5 years gives me instant equity and a payment that allows me to to cash flow from $500 on up depending on the property. Sometimes I sell them as Turnkey to folks from California, and Arizona, sometimes I hang onto them, just depends. I also know people who buy properties using the old school way (using a bank and putting 20% down, ugh!) that are cash flowing, just not as much as I am cash flowing. Here is a sample spreadsheet of cash flow in Phoenix:

https://www.biggerpockets.com/forums/600/topics/58...

Well Mike, that is pretty amazing! Never really thought of it that way! That is super interesting! How long have you been investing in the AZ market? Have you seen any market cooling recently?

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All Forum Posts by: Brandon Wynn

Brandon Wynn has started 3 posts and replied 15 times.

Post: condo conversion short term capital gains tax

Post: condo conversion short term capital gains tax

Post: Vacant mobile home park

Post: Vacant mobile home park

Post: Vacant mobile home park

Post: Vacant mobile home park

Post: Vacant mobile home park

Post: Vacant mobile home park

Post: Midwest VS. Atlanta VS. Arizona Investing?

Post: Midwest VS. Atlanta VS. Arizona Investing?