All Forum Posts by: Carl Crain

Does anyone have a spreadsheet where you can add all the terms like the rental calc here BUT that allows you add the next property so it accumulates the cash flow and has short term properties fall of the debt as they expire and the money gets added to the potential income? Thanks in advance, Carl

Looking for information/contacts that are doing section 8 housing in St. Louis. Interested in investing in St. Louis. Any advice would be greatly appreciated.

6 TOH mobiles, 2 rental homes all on one parcel. Homes have separate water, trash, sewer all public. Mobiles have water, trash sewer provided by park. Mobiles are $275 and homes are $800 per month. Water/sewer costs are high for mobiles $800/month. Taxes are 2,000 year. Asking price is 200,000 and is based on income method According to the owner. Is this a good deal??

thanks for the questions, here is more information from best places:

St Louis Metro, 35 minute commute

town pop. is 9,905, up 42%

median homes are 148k

rents are 2/1 apartment 550, 3/2 house is 1,250, 3/2 apt not listed

yes, 40 TOH, no POH

i uploaded a picture of the sewer system, not sure i am calling it the correct name, it drains to a creek after processing.

market rents are close to this but do not include water. on this park with the well, he is not charging for water/sewer/trash, just 245 all in.

Based on your formula the park is overpriced, ballpark should be $700k correct?

so the big task is to get from 1.1 to 700k, park has been for sale for years. being on a main highway, many of you may know this park/owner, PM me if you have tried to buy this one.

any comments are welcome and thanks.

Midwest park, 50 spaces, 40 TOH, lot rent 245, two wells and package sewer plant. no room for expansion. asphalt streets park owned, mostly outdated-older homes. taxes around 6k/year. built around 1970. still working on DD. seller willing to finance at 6%. advertised at 1.1 million. 30 miles to major metro area. apartment rent is 2br $700. a lot of government assisted rent in this area. I can take the pain.....give me your thoughts. and Thanks in advance! Only read to "day 4" of Frank 30 DD, but finishing it soon.

I am interested in a small park, 6 pads, all occupied at 275 per pad. I want to buy it and convert it to POH. City water and sewer, I beleive park pays for.  Older homes. Is the process to keep raising rents until they sell me their home? Park is located in a small town in Missouri. Thoughts?

Ryan, I'm in Ofallon, mo. Message me.

So, if I understand correctly, the 50/50 rule is half pays for P&I and cash flow and the other half pays for expenses other than P&I and what's left over, if any, is also cash flow or reserves for vacancy and capex? Does that sound right?

31 year old fourplex in the midwest. Asking price is 265,000. Don't know the insurance vacancy capex yet. They are all 2/2. Rent is 700/ month on 12 month leases. Not sure what I can get for financing as this will be my first time. They actually have two buildings in the same complex for sale. Thoughts?

Try Robin Crain of Keller Williams West, they lead the MLS in units sold in 2015. PM me for her number. She is extremely versed in the area West of St. Louis.