All Forum Posts by: Chris C.

Thanks for fixing the title.
Owning my on equipment would help. I am meeting with a wholesaler this afternoon. I believe he has his own equipment so maybe we can work something out. Thanks for posting.

In my area I can find a lot of cheap empty lots and a lot of cheap mobile homes. I am interested in putting the 2 together and renting the lot and financing the home. Obviously there is the expense of moving the home but I would only buy lots with all hookups already in place. Anyone have success with this or have advice. Thanks.
Sorry about any misspelled words. Posted from my phone and I can't figure out how to go back and edit my title.

I agree "legal" and really glad to see it coming.

I have an LLC for my trailer park and recently purchased a truck. What are the pros and cons of registering this truck in the LLC. The truck will not be used exclusively by the LLC. Along the same lines are there some other creative ideas for maximum tax advantage. Example letting my son start a company that leases the truck to my company. I know there have been post recently about doing this with a lot of the things needed for doing business.

I did a quick search but didn't find a discussion about this.

How do you guys pay your contractors?

Do you guys let them quote the job knowing they need to pad it a little in case they mis-estimate the job?

Do you allow them to work by the hour? Could be better price IF they do not fudge the hours.

What do you guys do? My wife gets mad because I trust them to work by the hour. She thinks they should quote the job. She makes a good point so I am asking the experts.

Also, which ever method you use, how do you control them. With the hourly pay do you put a limit on the number of hours a job should take. If they need to go over they should call you. Any other ideas like this?

You nailed it J Scott.

Just did my first investment deal a few months ago and your analysis is dead on from my experience.

It took buying a foreclosure a year ago for my personal residence and doing really well on it to convince me after 3 years of "research" / scared of failure to pull the trigger on an investment.

Thanks for the welcome guys.

I will be in touch Jonathan.

I was a member of Upstate Creia for a while but didn't have time to attend like I wanted. I still have some very good friends who are members. Now that I have a few properties I will probably join back up.

Wanted to introduce myself to the community. To repeat what has already been said a thousand times "I can't believe how much information is on this website".

My bill paying job is a Controls Specialist for a local automobile manufacturer.

My investing experience has consisted primarily of car notes with a local buy here pay here lot. I have started taking on private investors in the past several months and have wanted to diversify into real estate. I have been intrigued by mobile home parks and financing so that is the direction I am heading. I have already bought a small park with 4 lots. I also bought a foreclosure last year that we have remodeled and have a considerable amount of equity in that is our residence. I will detail some of my experiences in a post I want to start asking advice on another deal I am working on.

I hope to learn more about structuring my note company and private investors. Also all the obvious stuff about real estate investing.

I am also interviewing lawyers and accountants so any that want to contact me feel free to do so.