All Forum Posts by: Daren Jones

@Tab Teehee Congratulations on your first commercial deal. Yes, it sure seems like they take quite a while and agree that 3 weeks from visit is not outside the norm in my area. Good luck on the rehab.

Congratulations, this could lead to a great investment. Make sure you put the park under contract with due diligence contingencies. Then get into the financials, tax returns, P&L, current rent roll and talk to management. Sounds exciting.  Good luck.

Hi Cory,

I purchased a park in OR that had all but 2 of the mobiles park owned. I sold them all on owner contract with a low rate (7.0%) and small payments (longer terms), of course this is park dependent in my opinion. I have not had one default. Ideally a local bank would offer financing to your tenants and cash you out. It took me about 12 months to get all the mobiles under contract and I did offer the tenants way better deals just for convenience on my part. Should have taken about 6 months but oh well. 

Good luck,

Daren

Good luck continuing into those deals in your market and thank you for your service! 

Hi. I am down in Pierce County and am willing to talk shop. Let me know.  Thanks,  Daren

@Larry Badgley Have you infilled a park before? I am trying to do this on a park in OR. Rural location, single wide units, a little more difficult than I had imagined...!

That is a great story @David Zheng! Excellent job, sounds like it was worth it for sure! Looking forward to hearing about your next "accident".

@Monique Davis you are leap years ahead of where I was and those are two great assets to have on your side! Don't be fearful, you will do great.

Welcome @Monique Davis. I have done a flip about 3 hrs away which took a lot more time that I realized it would and I ended up spending more than I anticipated. I think the biggest asset could be your future agent that will be listing it. He/She might be a very good asset for you to have feet on the ground in the local area. 

They can be great for references and might even be able to be your eyes and ears when you are not there...? I found this option out when I went to list and turned out it would have really helped my scenario. 

Either way, northern ID is nice, I hope you enjoy and I wish you luck with your flip!

@Michael Perreira have you tried The Bank of Hemet? Umpqua was lending on them as was MBank in OR that became Riverview Bank of WA a short time ago. I sure there are many others depending on multiple variables. Good luck!