All Forum Posts by: Clay French

Sorry a quick question on the fema trailers, do any of you know the process to buy the fema trailers?

I'm fairly certain its a good investment as is, but we've still got to verify the numbers and also find out what we need to do to make the sewage system up to code..they currently are using an oxidation pond. The ask price is 180,000 with 2800/mo in gross rents. Also, i'm not exactly how to figure this into the equation, but it we may be able to get the mineral rights for 7 acres (haynesville shale could be very big for this property). I know Chesapeake is drilling a well about 5 miles up the road from the property, if that well produces 15 million cubic feet per day or more, they should start buying leases in the area again. It seems like the typical bonus payments are 3-4k per acre + 25% royalties.

Thanks for the information. I will definitely take a look at that. You may have saved us a lot of money :)

I am looking at a property that is about 7 acres. It currently has a house, 5 1br 1bath cabins and a mobile home on it. We think we could easily fit 10-15 trailers on the property (maybe 20) with out tearing down any of the current structures. It is outside of the city and metropolitan planning commission area and as far as we know, there are no restrictions on the land. Where do we start to make sure we can add these trailers if we do buy the property?

Thanks for your feed back! How old is too old? Is there a general rule of thumb like the 50% rule with expenses?

I came across a 1978 single wide in a park in my area. They're asking $6500 for it. I made a walk through today, and everything seemed to be in good shape with the exception of some soft spots in the hallway floor. Ideally, I'd like to either do a lease/option or an owner finance deal. If for some reason we're unable to sell it out right, the lot rent in this particular park is $155/mo and the 3/2 homes are renting for around $600-$675. Can anyone help me determine if this deal is worth pursuing?

I just recently became a fulltime real estate investor. We mainly own rental property, but we are trying to think of some creative ways to expand our business. We were just talking about buying some lots in good school districts and putting United Bilt homes on them and either renting them out or reselling them. Everything is very prelimenary, I'm just wondering if any of you have ever tried this, and if so, how did it work out?

I live in Louisiana, and there has been a recent natural gas boom because of the Haynesville Shale. We decided to take advantage of this by converting some of our rental units into furnished short term housing for people involved in the industry. We have been able to increase our net rev. considerably, but the economy has obviously slowed and the natural gas prices have fallen. Because of this, a lot of gas companies have started laying off workers. I'm wondering if anyone else has any experience with short term housing, and if so, what marketing techniques did you use to keep finding new tenents?