All Forum Posts by: Chad Sloan

Investment Info:

Large multi-family (5+ units) commercial investment investment.

Purchase price: $264,000
Cash invested: $264,000

Proforma is $3150/month Rev with min. expenses.

What made you interested in investing in this type of deal?

This investment is near another MHP investment of ours and it is the best deal I have found in over a year for MHPs.

How did you find this deal and how did you negotiate it?

Found it on the market.

How did you finance this deal?

Cash

How did you add value to the deal?

I will be adding new mailboxes and much needed septic maintenance and repairs. Also, I will be increase rent gradually over the next 18 months to reflect closer to market rental rates.

Lessons learned? Challenges?

Just closed so I'm sure the lesson's will be many...

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I was my own broker on this deal.

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Mooresville.

Purchase price: $155,000
Cash invested: $10,000

This property has a single-family site built home and two mobile homes on it. The site built home is being rented indefinitely by the seller and the two mobile homes are being renovated to capture market rental rates.

What made you interested in investing in this type of deal?

Multiple rentals on one property and the opportunity to get it under market value.

How did you find this deal and how did you negotiate it?

An opportunity through my personal network.

How did you finance this deal?

Investment margin loan

How did you add value to the deal?

Knowledge of mobile home rental opportunity. Will spend some money renovating and be able to rent them for twice what she was charging.

What was the outcome?

Can’t wait to see!