All Forum Posts by: Chris C.

Pay close attention to @Valerie Hiscoe advice.  It is something to seriously consider.

We own a real estate company in the Greenville area, own our own rentals, and flip 3 to 4 properties a year.  We have also partnered with a couple of fellow BP members.  Be glad to work with you if you are interested.

We also love the Asheville area and I went to Owen High School in Black Mountain.

Welcome to the site.  If you ever want to chat feel free to give me a call.

I don't know if this link will work but this is my voicemail for my direct mail line.  I have only had one call that did not leave a message.  My voicemail service sends me an email if someone calls the number and another if they leave a message so I have been able to track it.  

https://control.phone.com/images/temporary/greeting-Direct_Mail-212381452868826.mp3?_sid=2SsmGhYDIifUq2LoEpGtunXV3b

We us Podio.  Like everyone says you have to build your own and from what I have found Podio is the best we have come up with.

Here is my rehab list with Lowes item numbers.

https://docs.google.com/spreadsheets/d/1lw1E1-bFiU...

Welcome @Daniel Beck.  Greenville is a great market right now.  Good luck

Thanks @Account Closed for the info.  I have done quite a few deals with mobiles in the past so I have looked into lot rates.  Several nice parks are getting $200 a month and I feel $175 for this park will be about right if not a touch aggressive until I can get newer homes in.  

Have a local opportunity with a mom and pop park.  Would like a little feedback on the deal.

24 Lots

There are 11 lots as lot rent with owner occupied homes paying between $110-175 per lot, depending on how long they've been there one what they can pay. Monthly lot rent is $1800/mth currently. Park has 9 park owned MH; however, only 3 are rented, only bringing in $800/mth TOTAL. Super cheap rents on old small units. So grand total rents currently are $2600/mth. The other 6 park owned MH are vacant, OLD, BAD, and not worth rehabbing. Best to give away or for a few bucks or tear down. Positive thing is seller has wheels and axles and extra land where they could be moved around the corner and torn down on site, while another newer unit could be put on its former lot at same time. No down time. He knows a guy who could tear them down. 

Rural water company. Individual water meters but one water bill. He reads each meter and calculates the water bill each month and adds to rent.  Each have separate power meter and bills. Land taxes are about $1400/yr.  

All lots are 1/4 acre with septic tank.  I need to verify size of tanks and if I can move in 3 or 4 bedroom homes with existing tanks.

Gravel park roads in a country area but easy access to several city centers with industry.  All homes are older but seem to be decent people living there.

All cash $129,900.

Owner financed at $135K with $35 K down, $100 K at 8%. At a 15 year term

As its sits I get an income of about $ 31,290.65 yr

Expenses of about $ 9,855.00 (These expenses do not account much for repairs on 3 rental units as I would like to sell those asap.)

That's about 16% cap if I am correct.

Here is link to my spreadsheet https://docs.google.com/spreadsheets/d/1WMYg4Pykdq...

I use google voice for my tenants so that I don't give out my number cell number.  It works great for that but I use phone.com for my direct mail and real estate brokerage numbers.  

@John Weir  Feel free to contact me.  I am nothing special but do have a rental portfolio and have been successful with my flips.  I enjoy talking real estate so maybe we both could learn something.