All Forum Posts by: CJ Witmer

Hi Michael A Rytina I'm in the Chambersburg area.

David Krulac - I live in Chambersburg and work in Hershey on Mon., Tues. and Thurs. I'd love to meet up some time up that way and buy you lunch to just pick your brain. For some reason I can't send you a colleague request. Sorry to hijack the thread.

Sterling Fields - Can you give us the numbers and what your strategy is?

Maybe I missed something here, but it sounds like she owns the home and her insurance should cover it.  How are you on the hook for ANYTHING involving this property?

@Ian Tudor - I've reached out to the selling agent to ask all that info.  No response yet.

Thanks!

@Michelle Chowan - I'm about an hour from Lancaster, but if I can help, let me know.  If I may ask, what brings you to Amish Country?  I live in Chambersburg and work in Hershey (long commute).

@Account Closed - excellent breakdown and thanks for the time you took to reply!  I'm still trying to wrap my head around what cap rate is.  Doesn't look like a deal at all now that you provided that feedback.  I'm still unclear on what you mean by "capping the homes."  I see your explanation, but there are implications it's shady, but you didn't come out and say "what they're doing is shady", so maybe it's a legit way to fudge numbers?

What is "POH"?  You say "Additionally, i noticed that in the satellite image appears to be 11 homes but they have 7POH and 2 TOH ."  Can you help me out on those acronyms please?

Also, I went down to street level on Google maps and they do look to be older homes.

Thanks @Andriy Boychuk.  I've reached out to the selling agent with your questions.  Also, the home on the property looks to have some potential as well.  I appreciate the time you took to respond.

Notes from listing:  Mobile Home Park. 7 mobiles are owned by park and will convey. there are two lot rentals. There is a house on the property. Public sewer and shared well. Public water is available. There is room to ad 3 to five more mobiles. Great Investment opportunity!!!! Cap rate at 12%

Bryan, good luck, I'm in PA as well.  I'm a newbie, with only one over/under duplex to my name, but I've heard various different folks say to figure in 10% for management fees, even if you plan to self manage.  I just mention this because I saw you didn't figure that in.  It gives you some nice "icing on the cake" if you do self-manage, but let's you plan to pass management off to someone else if that need arises..  Keep us updated!