All Forum Posts by: Brian Simmons

Hey guys!  We purchased and are rehabbing a mobile home park in Missouri.  We are going to owner finance trailers to individuals instead of renting them out.  I am in need of a owner financing contract that has the extra stipulations that go along with a park.  Examples would be you can't move the home while you still owe a balance, etc.  I'll be honest, since this is our first park, I don't know what I don't know when it comes to these contracts.

Does anyone have a solid contract they would share? Or even better, a good lawyer who specializes in parks that can write one up and guide me through what I need to be aware of?

Simcha,

You might try Bank of Missouri.  They have a lot of cash reserves right now, so they have been a little more flexible than most.  They are picky though, so you will need to have rock solid financials.  If you don't, I wouldn't bother.  

@Shannon Russell Perspective accounting in Springfield does mine, and several other local real estate investors.

Hey Naoko!  I live in Republic, but we have many properties (as well as our office) in Bolivar.  If you need help with contractors or contacts just let me know.  

Hey Sven!  There are a lot of us in Springfield!  Check out the REInvestor group in Springfield on facebook or online. 

Are you needing in house commercial loan or a Fannie Freddie mortgage?

Sandy,

We are based out of Springfield, MO but have properties around the Jefferson City Market like Ashland, Russelville, and Mexico.  

For the Springfield Area I second FHS Property Management.  Also some other good ones are The Jacques Company and Dizmang Properties.  We actually have quite a few decent ones in the area..  

Dan,

Greene County sends one tax bill at the end of the year, it includes taxes paid to schools, city, etc.  I see you are from NJ..  How high taxes are is relative, as people here complain, however compared to your neck of the woods they are a pittance.  

A 50+ year old house will probably run you $600 or less a year, a brand new 3 bed 2 bath house will run you $1500 ish.  Springfield is considering an inspection fee for rentals, but we don't really have any extra fees in place yet.  

Vacancy is very low.  If you manage your properties well it is close to 0.  A decent house in a decent area will get 25 calls in a weeks worth of advertising online. 

Lol..  Your moving from Hawaii to Springfield?  Is this opposite day? 

I do primarily small to mid-size multifamily in rural communities within Missouri and Kansas.