All Forum Posts by: David Klein

@David Klein

Anyone? Anyone belong to GoBundance or M1? I hear about it on the podcast with Brandon Turner. Comments???

Great thread and lots of good opinions/ideas from everyone! The bottom line is always in the numbers, and not just using one metric or another. I have been investing for 20+ years in SFH, Duplex, Apartments, MHP, and Condos. This market is tight but always finding a value-add property to increase your return as described by Mike Dimsky is the way to go. This is not easy and takes a good bit of effort and due diligence prior to purchase. There is not one way to "skin the real estate cat" but everyone that is successful skins their cat with hard work in whichever asset class they are comfortable and knowledgeable. You must also adjust your ROI expectations based on the current market and not get too hung up on better ROI you may have obtained in the past in different market conditions. Risk tolerance vs. return plays a large role in what one considers a "good investment". There is no absolute right or wrong. Please continue the comments folks!

Hello everyone! I cannot seem to find any info on GoBundance that is current. Most of their online presence is self-propagated. It looks like a group I would like to join but the cost is nothing to take lightly. It always makes me a bit skeptical when there are no objective reviews available, much less any critical reviews. Any info will be appreciated and DM me if you are not comfortable posting publicly. Thanks all!

I own a 42 lot MHP with all TOHs. That is ideal and I stumbled into it a few years ago before this space became red hot (like multi-families). I am currently in contract with a 30 lot MHP with 16 POHs with well and septic. The mantra you will read is "sell all of the mobile homes ASAP!" That is fine if the CAP on lot-rent only makes sense. If you do your due diligence, and the homes are in decent shape, they are really cheaper than maintaining a stick built home. I own multiple other mobile homes in other locations and they cash-flow quite nicely. Following the "Guru's" advice gets repeated until it becomes "Gospel". That doesn't mean an individual deal that doesn't fit the "Guru Model" won't work, it just means that you need to go into it with realistic expectations and goals, with your eyes wide open. It would be a bit daunting for a first deal without investing experience. I have invested for over 20 years including SFH, Duplexes, MHP, and multi-family apartments. My first park is a Unicorn today and I won't likely find another quite as simple to maintain as it was. As always, let the numbers not emotion rule your decisions.

Hi Caten,

I am an investor in Concord and will try to come to the meeting on the 20th.  Thank you for hosting!

Hi Virgil,

Be careful on raising lot rents to what "you think" they should be. A $100 jump, particularly with POHs, may increase your vacancy IMMEDIATELY. It is true people usually don't move their homes due to the cost, however, you must be near the market rate of $115-$150. It would be very easy for them to move out of your POH. A 12 CAP is not too bad on lot rents for this current economic market in general. Make sure you don't overpay for the POHs, they do come with a cost.