All Forum Posts by: Bukka Levy

I've heard a tremendous amount about using promotional 0% interest business credit cards to fund buy-and-hold investment deals. Dozens of podcasts & articles explaining the how-to's and the advantages of doing this. Okay, fine. I get it.

However, the one thing I've never heard is how exactly you go about paying these cards back before the introductory period runs out and the accumulated interest bankrupts you.

The only option I can figure is that you (hope to) refinance your cash out and pay back the cards(?). This, of course, would require the bank appraises 20% equity on top of what you paid. 

Additionally, if you got a loan on top of your cash advance (say, you only had enough cash for a down payment) then I imagine you're also paying loan fees twice.

This may all be fine and dandy if the numbers work, but is this a viable plan or a total gamble?

Incredible! Thanks for sharing the win and the details.

I'm looking at a park that's about 75% occupied. It looks like it's about a 10 cap at its current income and 40% COC with 25% down and owner financing the balance. It seems like it has a lot of upside. I'm just not sure what else ai should be looking at numbers wise. Still waiting on some info regarding utilities.

I feel like I’m aiming to big for my first park but I also don’t want to be afraid to jump in.

I probably need to calm down and do more “paper trades” but assuming I was serious about this do these numbers mean much or am I missing a ton of info?

@Ryan Groene This is what I'm concerned about different than SFH. I am using a private lender for the down, but where with a SFH I would refi the money out to repay the down payment, that doesn't seem viable with MHP. At least for a few years. Does that sound accurate?

I may also be looking at parks that are too big. I was hoping to get one in California where I live but they may just be too far out of my price point.

@Ryan Groene All great suggestions. Unfortunately I can’t attend the upcoming Boot Camp and going to these in general is fairly difficult for me at this point. I have listened to all the MHU podcasts as well as all the Kevin Bupps MH academy, and everything else I could find.

I’m looking to buy and hold for my personal portfolio, legacy wealth, etc so I’m avoiding partners, syndication, etc. Great suggestions, just not the route I’m going to take. I need to figure out how to do this without any long term partners.

I realize it’s going to be slightly more difficult but I’m preparing to make it work.

Thanks @Rachel H. I’m planning on using a private money loan for the down and hoping to get owner financing, but either way I’d like to pay off the private money ASAP. Not sure if that’s an option via refi.

Hi gang. I'm wondering if anyone could recommend a path to finding and buying my first Mobile Home Park. I'm seasoned in the Single Family Home market and am very interested in moving up to MHPs. I'm also transitioning to borrowing private money, short term to acquire them, and if I have to go out of state that will make at least three categories I'm new in.

I'm familiar with several courses such as Mobile Home University, etc and Loopnet, etc but would appreciate any feedback on them, or any other route to take in getting started. I'm ready to make a move but I want to make sure I have some idea of what I'm doing without losing my shirt.

I'm also curious how others fund them. How much do you put into the deal? How much do you have in reserve at purchase?  Can I expect to refi to payoff my private loan and get my capital out or is that not likely with MHPs? Any help would be highly appreciated!

The tiny house movement is still being debated and is being handled in different ways depending what part of the county you're in. For the most part, the most common scenario is using them as an accessory dwelling - usually "under the radar". Buying land to place a 'tiny house' on is not currently accepted as far as I understand, but since I haven't heard anything new in a while I sent a message to my friend at the county permitting dept for an update. I'll let you know if I get new information from him. 

Likely his best option is to find land in the county zoning, outside of any city limits. Perhaps even with a dilapidated house, then adding the tiny home 'under the radar'.

We are making progress so there may be new info in favor. There have been some tiny house communities being proposed and expected to go through, so this may pave the way. Lastly, some cities are being quite lenient on allowing them as accessory dwellings for granny units and/or AirBnB, and though I realize this doesn't help your friend, it is promising for future acceptance. 

I’ve been thinking of starting up a Petaluma Meet Up if there’s interest.

Welcome Justin!

I’m fairly new to this BP community as well, as well as old school North Bay (all of my life in SF and North Bay)! Best of luck, and I look forward to meeting you someday. 

Ps, also looking forward to the rebuild of the hotel!