All Forum Posts by: Dave Rav

Hello.  Sounds like a fantastic opportunity.  Where are these 7 parks located?

@Aristotle Kumpis thank you.  No, we are not interested in duplexes at the moment.  Also, new builds are not currently in our strategy (delayed profit realization).  Prefer to cashflow as close to day #1 as possible.

Hello group!  I'm an investor out of SC considering a multifamily deal in Clinton, SC.  I dont know the area, or the county for that matter, whatsoever.

I did some preliminary due diligence on Clinton, including 5-year population trends, demographics, rental rates published, and some other region-specific data.  Just thought I'd drop a line to the group for more information.

Specifically:

-Demand for rentals.  

-Crime.  (as it relates to within town limits)

-Average rent rate for 1BR and 2 BR units

-Average market lot rent

Thank you!

Some great points by @Gino Barbaro.  Thanks

Mirroring what another said... price per lot model.  And maybe a little extra based on "opportunity loss" of future income, if you feel that's fair.

@Jackie P. all that is a moot point.  We have moved off the deal.  No deal.

agree with the others.. the numbers seem high.  Used mobiles near me definitely dont go for that much $$

@Jackie P.

Yes it is in a MHP (our MHP).  No, we weren't planning to move it.

We've talked to our attorney.  He advised against it.  Sub-to on a freestanding MH no land where bank holds the title = he said bad idea.

@Account Closed  thank you for the comment.  Yes, I have answers to all questions.

MH is freestanding (not attached to land, so not real estate).  No land in the deal.  And correct, it's a DMV matter.

2021 Clayton.  Still titled.  Bank has title (obviously)

Hey group!  I wanted to ask if anyone has done a subject-to on a mobile home?  Please tell me about your experience.

Though I have experience in other areas of RE, this would be my first sub-to deal.   A tenant in our MHP is looking to sell, and we're putting a deal together.  Trying to keep it as simple as possible, but cover the important stuff.  The list of docs I have include:

PSA

Memorandum of Agreement

Affidavit of Liens

Due on Sale Disclosure

Auth to Release Info

Gen Warranty Deed (as the bank holds the title at the moment