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All Forum Posts by: Charlie Loomis

Charlie Loomis has started 4 posts and replied 10 times.

Buying & Selling Real Estate

Post: Entity Structure for Flipper

Charlie Loomis
Pro Member
Posted
  • Posts 10
  • Votes 2

Wondering if it's is more tax advantageous to use an S-Corp or a straight LLC for doing my flipping in?

0 Votes
Oklahoma City, Oklahoma
Real Estate Deal Analysis & Advice

Post: First Time RV Park Owner

Charlie Loomis
Pro Member
Posted
  • Posts 10
  • Votes 2

Quote from @Jack Schwartz:

Thanks, Charlie for your quick response!

I'm in NYS, is there any site where I can look it up? 

You might look at:

https://ag.ny.gov/resources/individuals/car-auto/leases-rent...

And:
Maybe read this thread, not sure about the validity of this one but maybe worth the read:

https://lite987.com/live-in-a-rv-new-york-state/#:~:text=Eve....
1 Vote
Oklahoma City, Oklahoma
Real Estate Deal Analysis & Advice

Post: First Time RV Park Owner

Charlie Loomis
Pro Member
Posted
  • Posts 10
  • Votes 2
Quote from @Jack Schwartz:

Hi Charlie,

Wishing you a bunch of luck on your new venture, I own a piece of land that has been approved for an RV park. I'm curious about what exactly I need to have in place for the park to function properly. I'm also considering buying my own RVs to rent out at the park. So, in addition to the park requirements, I would like to know how the rental process works for the RVs specifically. Could you point me in the right direction or let me know where I can find more information?

Thanks in advance for your help!

Hello Jack, not sure on the rental of RV's probably depends on your area. I am in Oklahoma we don't have much regulation around that and here it would work just like any other rental.
0 Votes
Oklahoma City, Oklahoma
Real Estate Deal Analysis & Advice

Post: First Time RV Park Owner

Charlie Loomis
Pro Member
Posted
  • Posts 10
  • Votes 2

@Jonathan Mueller

What were the main features you liked about the Res Nexus?  I was looking into Camp Spot as well.  Does that software give you online booking and payment options?

0 Votes
Oklahoma City, Oklahoma
Real Estate Deal Analysis & Advice

Post: First Time RV Park Owner

Charlie Loomis
Pro Member
Posted
  • Posts 10
  • Votes 2

Thanks Jonathan

0 Votes
Oklahoma City, Oklahoma
Real Estate Deal Analysis & Advice

Post: First Time RV Park Owner

Charlie Loomis
Pro Member
Posted
  • Posts 10
  • Votes 2

Looking at buying an RV Park any recommendations on best management software?

0 Votes
Oklahoma City, Oklahoma
Mobile Home Park Investing

Post: From Master Metered to Indivdual

Charlie Loomis
Pro Member
Posted
  • Posts 10
  • Votes 2

@RhettTullis

I do have ONG and I will check into that thanks

0 Votes
Mobile Home Park Investing

Post: From Master Metered to Indivdual

Charlie Loomis
Pro Member
Posted
  • Posts 10
  • Votes 2

Looking for any advice out there on switching my MHP from Master Metered water and gas to individually metered.  My park is in Oklahoma, and I am wanting to start with metering the water individually any advice about best metering equipment for the money would be appreciated. 

Thanks & God Bless!

Charlie Loomis

0 Votes
Mobile Home Park Investing

Post: MHP Purchase and Cost Segregation Study is it worth it?

Charlie Loomis
Pro Member
Posted
  • Posts 10
  • Votes 2

@Yonah Weiss

Thanks for the input checking out the wheels and axles now

1 Vote
Mobile Home Park Investing

Post: MHP Purchase and Cost Segregation Study is it worth it?

Charlie Loomis
Pro Member
Posted
  • Posts 10
  • Votes 2

I am looking to purchase a 54 unit MHP with 26 park owned homes, the property has sidewalks, paved roads and parking spaces is it worthwhile for me to look at a cost segregation study? Any idea what the cost and benefit is?  The seller is wanting $400,000 for the land and $387,500 for the improvements.  Thanks in advance!

0 Votes