All Forum Posts by: Connie Steele

@drewsygit . . . Thanks for the links.  I suggest if you dont want to answer a question about your personal experience an app then keep scrolling.  

I went with Rentredi.   The reason I didn't choose apartments.com is because we have commercial as well.  Not super thrilled yet but still learning the app.  We will see. 

@esteban - Is there a reason why you didn't stay with the transfer of cozy to apartments.com?

I have used cozy for all my rent collections.  They have joined with apartments.com and everything is supposed to be transferred over to them.  Has anybody used apartments.com for their collection of rent?  Are there any others anybody recommends.  I really liked Cozy, but am wondering if there are other options and what your opinion is.  Cozy was easy to set up and easy to keep track.   Wanting the same type of service.  

Also we have one commercial so it wont transfer over, but I could just recategorize the type of property or find a service that does both. 

I am definitely fine within the FDIC limits as I have it split between a couple of banks. I dont want to have to go to the government to get it.

We sold our house and business and moved out of state.  We have a large amount of money in some smaller banks, with the intent of buying more MF and am wondering thoughts on bank liquidity. 

Would you be concerned about bank failures as in the 2008 downturn.  I have heard reports that banks are in great shape right now and can weather the storm. 

There is a total of 30 spaces for mobilehomes.  The lot rent is $150.00.  There are 3 TOH and 27 POH.   It says all utilities are submetered and directly billed.

Looking at a mobilehome park and at listed price shows an 8% return.  There are some RV spots that are rented sporadically, but they show the mobilehome units being rented with little vacancy rate for the last year.  With that said, there are 25 POH and 5 TOH.  The park is approx. 3-1/2 hours from us so would need an onsite manager and handyman.  There are 8 units that are late 70s, 80s and 90s.  The rest are all in the 2005 - 2012 so newer homes.  What kind of return do you expect before purchasing a mobilehome park and is it just a bad idea with so many POH and being so far away.   Should a mobilhome park be purchased closer to the owner?  The park is all on city services, which I like, and also the prospect of selling the POH and carrying the papers.  However, not sure how hard it is to find people to purchase POH or typically how long it takes to turn them into TOH.

Just wondering thoughts on this, and keep in mind I am waiting for a clearer financial picture.

We just purchased 16 units in OK.  I am wondering what some of your qualifications for new renters are?  Minimum credit score, minimum income requirements, etc. 

I am putting our requirements in place and just curious what some of you other owners/managers do?

We own a business in CA and are purchasing out of state units.  We will be relocating and selling our business in the next few years.  Wondering if that is cause for breaking the covenants if we do it without letting them know.  And if we let them know will they say no.  Even if they are receiving their mortgage payment..