All Forum Posts by: Carrie Cavins

I was READY to submit an offer on a MH last night (in Texas) with the intent of doing owner finance. It is not at a price where I will recoup cost with the "down payment" because of the market I'm looking to purchase in. However, at a 5 year hold, it would be a great ROI. Putting all numbers aside, exit strategies, etc.. HOW is FSBO done in Texas? Any links, names, etc. would be appreciated. I read about this on a BP discussion dated 4 yrs ago (which had a lot of back and forth), but I am seeing investors currently discussing owner finance. I have read on a Texas law site (linked by fellow BP Pro) and it states not many attorneys will draw up contract. I'm open to PM too. Should I look to other states for my FSBO business model? any input is appreciated. I'm here to learn.

Bill W. If I want to buy 1 MH only to owner finance in Texas, I would need a MH Retailer license? Where do I find current info since this post was 4 years ago?

Bill Neves very inspiring! I found your FB page and am interested in following you!

Brian Eastman I agree. Thank you

Jeremy Kuchenbecker Greg H. John Arendsen If this question is in the wrong section, please let me know and I'll drop the ? to another discussion group. I'm considering placing an offer on 1 MH, in a park in Texas, ONLY for a rent to own investment property, and I would owner finance. Would it be worth the $300 fee to purchase it in an LLC or under my own name? Not sure if this falls under MH forum or one of the legal forums.

Brian Eastman is it worth it if I will be doing one transaction, less than $40k for my potential purchase? There are several terms you mentioned in your response that flooded my mind with questions and leads me to this.. Do I ask the questions on the post because there are a lot of newbies that may have the same questions, and/or take advantage of you being a PRO and as such, the privilege of emailing you my clarifying questions as to not have this discussion go in the wrong direction?

Brian Eastman Dmitriy Fomichenko Thank you both. I didn't know what the SD IRA was called, so now I'll be able to research this. Is this normally an easy transition and quick (as in a few days) or is it time consuming and lots of paperwork? Or will the research answer this? Again, thank you

I'm looking at a FSBO property and the owner states has title in hand. The owner claims the only thing that needs to be done is a transfer of title for about $150 (in Texas) with a cash purchase. This seems too simple, but would be wonderful. (I've only bought SFH) Does this work if an owner still had a mortgage and I was paying cash or would there be closing costs? And if there were closing costs, would I be responsible as the buyer because I'm buying "Personal Property"? Thank you!

Brian Eastman I have been trying to educate myself on this and get more confused. I have an IRA that was rolled from a 401k from a previous employer. I want to learn how to move this IRA into one that I can pull money out and invest. My intent is to purchase MH's and owner finance over 5 years. Where do I go to educate myself on options for using my IRA besides just pulling it out and paying penalties plus tax?

Update: the owner declined my offer and countered with full asking price in cash only. I haven't responded and know the property is still for sale. I'm thinking of waiting closer to their move out date and responding, IF I haven't found another property. Thank you to everyone for taking the time for feedback.