All Forum Posts by: Christopher Stanis

Good tips. Thanks @James Rey @Curt Smith. Another question- does this process change at all if the park has a water treatment center and a sewage treatment plant already installed? 

@Glen S.- what have you found out in the process of your deal? 

Hey BP community, 

This is for my fellow mobile home park investors out there. I'm looking into buying my second park, what's different on this is that it has private water and sewer. Have you had either good or bad experiences buying parks with private water and sewer? If you were considering buying such a park, what constitutes due diligence? 

Thanks, and very best, 

Chris

Joshua Daniels - here's an example. Let's say you have a dozen credit cards, and find a good rehab property. -all purchases on a credit card: Purchase price=80k Rehab and holding costs= 20k Credit card interest for a year= 15k ARV= 150k 150k-115k= 35k profit Do I care about that credit card interest? In this case- not really. Benefits- it's easier to use than a bank loan. And your credit score goes back to normal when the balances are paid below 50% on each card. Hope this helps.

Joshua Daniels - the answer is, "it depends." Are you buying "doodads" that won't ever return your money to you? TV's clothes etc. keeping a balance on these items is unwise- and you should listen to David Ramsey. Can you use the credit cards to buy investments that make you money? Absolutely. 10% interest is commonly charged by hard money lenders and can be useful for short term uses

Eddie- how long does bank A require between doing your two separate loans? Based on getting the most $ out- bank A is a better choice. A: (220k x .75 loan to value)- 12k closing on 2 loans= 153k available money B: (220k x .60 LTV)-6k closing=126k available Only question is length of time it'll take you to get the money from A versus B.

Definitely a good idea to post cameras as a deterrent. I might make a suggestion- it may not be worth getting sick to your stomach over petty theft. That could give you an ulcer over years, and fixing your long term health will cost way more than a few quarters

Hi Markeilsha, 

You might want to try Fred Xlander in Binghamton. 

Best, 

Chris 

Hey BP community! 

Wanted to give the community a shout out. I'm Chris Stanis. Currently living and looking to invest in the Binghamton NY area. I'm also doing some looking down in Williamsport PA.  Spent the last few months working for an investor in Indianapolis and have been able to learn quite a lot from him. I'm looking to rehab, and am also happy to wholesale deals to my network. Please feel free to drop me a line!