All Forum Posts by: DeAndrea D.

@Steven Hamilton II Thanks so much!

Our LLC paperwork is being filed with the state now and we will be setting up a business banking account when we have all of that squared away. We plan to wholesale to raise capital to buy long term multifamily rentals. What should we be looking for in a CPA to ensure that we are getting the most out of having the LLC? We're in TX just outside of Houston so if you have any recommendations for a real estate investor friendly CPA I'm all ears!

I'm setting up an LLC by the end of the month so I don't lose my momentum. I'm in TX and plan to use it as the entity holding the contracts for wholesale deals and eventually purchase multi family properties with it. Has anyone used LegalZoom to set up an LLC? Pros? Cons?

@John Jacobus That makes perfect sense. Where is your park (or parks) in Texas?

@Jerry Lucker You certainly cannot. That’s another reason we chose mobile home investing. Depreciation is why we’d want to seller finance the homes once we rehabbed them. No need in us owning them long term.

@Jonathan Ryzowy Thanks. You saved me a bit of cash.

@John Jacobus Wow! Thanks so much for all of that information. If I’m understanding correctly, if you’re working with investors you prefer to have them renting homes to tenants in your park, not seller financing them to tenants?

@Justin Tahilramani Absolutely! You'd be surprised what kinds of zoning laws you come across in rural Texas. We have some land that we weren't allowed to put tiny houses or mobile homes on because it's zoned for SFH. There's only one home there too! Understanding the zoning is why we decided to stay relatively close by for our first few deals. We'd rather not have to have any of them moved to avoid a lot of the hassle of having to comply with the those laws. Do the zoning laws come into effect even if you don't move it? Like if the title is changing?

@Jerry Lucker I’m just getting started and have been starting to build relationships with park managers. I know they can point me in the direction of tenants that are looking to sell, but I’m mostly asking about other ways to find sellers. I don’t want to only rely on the generosity of the PM to get my business going.

@John Thedford MHVillage and I believe the other one is mobilehomeparkstore.com. I saw advertisements on both and that’s how I found more parks in my area. I keep dining more that aren’t listed on those site so it gave me a great place to get started. Most of the ads I’ve seen are for selling the home, but I don’t see why I couldn’t use them to advertise that I buy them. Thanks for the tip!