All Forum Posts by: KIMARD EGLETON

Just checking in to see how everyone is doing? Given the current environment how well do you think the EPTX market will hold up?

What's up everyone? I just received word that I will be reassigned to El Paso. I'm looking to connect with REIs and learn the market. Please add me to any distro, meet up, or social events. Looking forward to meeting each one of you. Thanks. Mark. 

Jason Smith The seller would prefer to sell the entire package together, but willing to separate 5-10 at a time. I'm planning on holding the properties for cash flow. Austin Fruechting Come to you!

Hey everyone, I'm working a potential deal right involving 30 property portfolio (class C properties). The seller is retiring and very motivated. If possible, I would love to speak with someone who has experience evaluating portfolios. Thanks

Cheryl Campbell did you have any luck?

Jason Dillard that's what I get for replying at 3am. I'm back on track now ...lol

@Ed Emmons I will call the county first thing in the morning to ask about the septic  records. This is a rural area that's experiencing quite a bit of economic development with QVC, IFH Foods, and other having built huge distribution centers less than 5 miles away, so it has potential for growth.   

I drove the neighborhood this afternoon. This MBHs are very close to each other with a few SFRs on the same road separating them into clusters.  It's your typical rural community, there were junk and old cars accompanying the SFRs, as well as a few kids playing with adults standing around. 

My analysis: 

Rents: $5800   Annual: $69600

Expenses:

Vacancy (.08): $464

Management (.10): $580

Maintenance (.25) $1450

CAPEX (.10) $580

Annual:

Vacancy: $5568          

Management: $6960

Maintenance: $17400

Capex $6960

Taxes: $3193.72

Insurance: $3520

Total: $43601.72

NOI: $69600-$43601=$25,999

CAP rate: $25,999/275000=9.5% 

@Jason Dillard can you provide more detail? RTO = Reverse Take Over? How did you get to 500K?

Ed Emmons

Ed, Thanks for your advise. The owner currently owns the land which will transfer at purchase so no lot rents to be considered. She is also self managing, but I will include a 10% management fee in my numbers as usual. In terms of MBH valuation, I understand your comparison of the MBHs to dealer prices, however since the land is included does that change anything? Should I just research the going rate for each MBH with similar condition and add up to get the total valuation?

Hello everyone,

Up to this point, I've only focused my efforts on wholesaling and purchasing SFRs. However, I ran across a craigslist post of someone selling 10 mobile homes for $275,000. My question is what are some of the things I need to think about when evaluating mobile homes? Do I use the same valuation formulas to determine the appropriate value as a multifamily property (CAP RATE/NOI/ETC)? After speaking with the owner, here are some of the numbers. Let me know what you think? These MBHs are not all located together in one park, but close by. All home have been renovated in the last 2-3 years with 100% occupancy all month to month leases. Thanks for your help?

10 MBH For Sale $ 275.000

1 rent $ 625.00 Mbh year 1997 (3 bed 2 bath)

2. Rent $ 625.00 MBH year 1997 (3 bed 2 bath)

3. Rent $ 575.00 Mbh year 1997 (3 bed 2 bath)

4. Rent $ 550.00 Mbh year 1997 (3 bed 2 bath)

5. Rent $ 525.00 Mbh no Title. (3 bed 1 bath)

6. Rent $ 525.00 Mbh year 1985 (3 bed 2 bath)

7. Rent $ 500.00 Mbh year 1978 (2 bed 1 half bath}

8. Rent $ 575.00. No title doublewide (3 bed 1 bath)

9. Rent $ 650.00 Mbh year 2000 (3 bed 2 bath)

10. Rent $ 650.00 No title doublewide (3 bed 1 bath)

Monthly income $ 5800.00 Monthly x 12 Month = $ 69600.00 annually

Expense Annually $ 7073.72

• 1.Property Taxes $ 3193.72 Annually
• 2.Insurance $ 3520.00 Annually
• 3.Security Light $ 360.00 Annually