All Forum Posts by: Christopher Abernathy

what a great story, thanks for the update, hearing numbers on the others would not be a waste to all of us who read if you do not mind. and if they are in the same area/park or not. 

id briefly like the run down on normal terms/ down payments / some of the unforseen problems people encounter and how often manufactured/mobile homes are sold on lots and average lot fees / HOA type lot fees for being hooked up in a park ??

i have found a few properties that seem way too cheap and im interested in begginner  

pointers or maybe a simple remake of bigger pockets "how to run investment property numbers on the back of a napkin" for mobile homes.

thank you 

@john k - i have heard of umbrella method and also setting up LLC this seems like a firm first step. Also hard money might work better for a quick gains like christopher posted below. have you used any hard money lenders yourself and without any track record or portfolio, where would you recommend i search for hard money beside googling hard money los angeles.

@ christopher  - We are leaning towards cash flow or buy and hold. properties in NC are dirt cheap usually there are tons of rural areas, yet my hands on experience will need to be more in Cali as my partner can travel much easier to visit CA. 

i will be looking into all mentioned and hope to have updates soon. 

True, thank you for your reply, i have had my sights on single family in palmdale / lancaster california area.  Yet would love to hear any input from those who get giddy on putting in thier 2 cents :) 

this post did not catch that much attention but you have a great point of narrowing down my ?'s  

Im in los angeles CA and i have the experience re habbing my partner is in NC and has the $10k capitol. 

I have been leaning towards Mobile home/lot/rentals. 

 We would like to hear any unique ideas strategies and or markets recommendations we can get on where to go from here as beginners. I am also 1/2 of the way through getting my CA BRE real estate license.  

im sure the book is great. yet im interested in knowing how much it has to offer the beginner investor who is not able to leverage their own credit.  if you have read please let me know your thoughts. 

1st off neither of us can leverage our credit. he has $10k to invest.

i can rehab on a dime, and bring a lot of value with minimal cost.

(tools knowledge of outlets/discount materials & sweat equity)

WHAT DO YOU RECOMMEND WE DO FOR OUR FIRST DEAL?

any and all advice welcomed.

?#1 - get more capital / partners?

?#2 - should we put 20% down on a single family flip in $50k distressed market area ?

?#3 - put $500 in yellow cards and look for motivated sellers/ wholesale.

?#4 - look for distressed properties and owner finance.

?#5 - run numbers for Cashflow on a mobile home in CA ??

1st off neither of us  can leverage our credit.  he has $10k to invest. 

i can rehab on a dime, and bring a lot of value with minimal cost.  

(tools knowledge of outlets/discount materials & sweat equity)

WHAT DO YOU RECOMMEND WE DO FOR OUR FIRST DEAL?

?#1 -  get more capital / partners?

?#2 - should we put 20% down on a single family flip in $50k distressed market area ?  

?#3 -  put $500 in yellow cards and look for motivated sellers/ wholesale.

?#4 - look for distressed properties and owner finance. 

?#5 - run numbers for Cashflow on a mobile home in CA ??

The other thing would be that i do need to occupy this property myself in some way because of the (FHA first time buyer rate/ 203k). So currently living in Torrance/ redondo beach, which is the atmosphere i love. Im not very interested in living in a duplex in B / C / D neighborhood in the heart of LA. Is that what im faced with Ewa Reza ? Or do you know of a more desirable area ? I get the idea of "jungles neighborhood" or lower end at 450k duplex.

good point in the other direction @ewa just always felt like the deals would be too far and few in between. maybe looking for poor management can be my way in to the LA market off MLS ?