All Forum Posts by: Dawn Young

Hi! I know this is an old thread, but Curt Smith, can you elaborate on doing rent to own, THEN seller financing?  We've done them, but seperately, how do you make this work, and in what cases does it make sense to do it?  Are the parks ok with it?

I'm not full time, but my Mom and Dad have been self employed for many years, and there's a Christian health coverage co op thing they were a part of.  It only covered major stuff, but it wasn't that expensive. They were so glad to have it, when dad wound up in the hospital.

Sorry, I can't remember what it's called.

We like the vinyl plank tiles --home depot brand.  Looks fantastic, the subfloor does not need to be perfect, you can even skip underlayment if you want to, although you can tell if you do.  My renters LOVE hard floor.  Does it bring in more rent?  A little, I would think.  We live in a small town, and I go more off bed/bath and other things.  But it will fill vacancies faster, they really love it.  Does it out last carpet, yes.  Your agent is totally wrong in my opinion.  We have 5 kids, 2 huge dogs=no damage, in one of the rentals, the only damage was from the tenant dragging something heavy accross the floor. (File cabinet maybe?)  I fixed the scratch with "floor crayons", and YOU CAN'T TELL IT WAS THERE. Easy to clean.  Love it.  Carpet is frequently seen as unsanitary, and tenants don't like to have to lose their deposits to carpet stains, which are inevitable with kids.  

I wonder if they service in my area?  Do you mind sharing?  I'd really  the service.  What if my buyers want to pay an extra 10 dollars this month? and $20  next month?  Could get pretty confusing.  I also don't like people coming to the door any old time with rent.  I'd love it if a company direct deposited and kept track of all that!  But I hate what I'm seeing in the companies that do it here.  they can't possibly tell you about all the fees, because there are so many of them!   And the mortgagers are getting hit with fees that we don't even know about!  fees for receipts, huge fees on nsf.  (come on, everyone has had an nsf check once, and come through with a good check the second time). The list goes on. 

Hi all! 

We have purchased and done a light rehab on a manufactured home in a park.  We will be selling it on terms.  (payments)  According to my lawyer, since we do this as a "business", our contract with the buyer needs to be a "retail sales Agreement for mobile home". He's not done one before,(he mainly works for parks and they have different forms) and at $250/ hour it would run us $1500.  I could do that, but would rather not.  Anyone know a lawyer in WA that does these?  I'd rather just pay someone $400 to touch up a contract for me than to re-write it for $1500.  Hopefully I've made this clear, and understandable.  Thanks!!!   

What works on me, is when my hubs shows me the numbers and answers the "Why should we do this?"question.    She has a point,  we DO have to set asside money to enjoy now, sometimes, anyway.  When we were younger we threw EVERYTHING into real estate. Why? So that we could have the freedom we have now that we and our kids are a little older. (My eldest is 14 my littlest is 5.). Little kids do better the less stuff they have, anyway, :-) but I think it's going to be really nice, now that some are tees, to have an RV for long vacations that we can take because we're not as tied down to our 9-5 jobs.  (Mine is a 12-1 job, actually, and he gets most of the summer off. Woo hoo stay at home mom status! )(We also live frugally most of the time)--- but if the kids need help with college, I'll have time to help them figure out a feasible plan, and we'll probably have some money to help, too.  So that's the "why" for us that worked.  If a deal is pretty risky, or doesn't cash flow enough, then it doesn't meet our "why?"question.  We'd rather have a little less profits than more stress over real estate.  But we DO do deals.  I've noticed that a lot of us investors get really talkative about real estate, and frankly, wear our spouses out.  (Maybe not you, but definitely I'm guilty!) Sometimes just keeping my mouth shut as much as possible, then showing the numbers and the why, and then shutting my mouth again, works better.  (Lol, for me!!!). Sounds like you're a really nice guy, best wishes!!!

I know this is an old thread, but did you figure this out?  Just curious.  By the way, they are really cute!

Another issue we are having is that there is nothing to compare this facility with.  There aren't any other storage for sale in the area at all. 

 Thankyou so much, Michael, that helps a lot!  Do your "boots on the ground" people "show" the units?  Or are pics of the interior on the website?  

Hi! While looking for investments, we have found a small mini-storage (self-storage) facility for sale, but it is over 2 hours away. It is not large, and there is no fence.

I hear a lot of talk about managing from a distance, and just having minimal "boots on the ground".  But how exactly does this work? 

Online contracts? 

How do you hire someone far away?  How much are they typically paid?  I'd rather not run a payroll! Can they be paid in a way to avoid that, like maybe commision? (I've owned a business for years, but don't have employees, so this is new to me.) 

 We are close enough, we can go down there if we need to, but definately don't want to drive there for each new renter/vacancy!  

Also, would love any info about your experiences with SBA loans, (I've discussed them with the loan officer, but not known anyone that has gotten one.)

Thanks a million, guys and gals!