All Forum Posts by: Denzell Hoover

@Patrick Menefee I purchased my second performimg note this week.

Due to all that has happened. I have taking an interest in macro/micro economics.

Unfortunately for me I'm a retail manager so we arw considered essential.

My gym time now I use to learn a new set of skills. Right now I am halfway through a microsoft excel course. This has helped tremedously in analyzing mulitple deals.

Looking forward to meeting you all. I will definitely be there.

@Jeffrey Harden I prefer to over explain the whole contract with them that way they know the ins and outs of the deal and my intentions. I prefer transparency last seller kinda cut me off and just wanted to move along. I would just ask to see how they feel, I prefer to read everything but everyone is different. Wishing you the best in your ventures and feel free to reach out to me as well. It's always a pleasure sharing/exchanging info with other REI newbies like myself.

@Jeffrey Harden I've only done three wholesale deals so far. I personally use the TREC contract along with that I have a document that strictly states the assignee, assignor, the amount and what they accept as well. I paid extra to get it reviewed by a Real Estate Lawyer (for peace of mind). I have experienced resistance from a seller on my last deal, due to them thinking what we were offering was too good to be true. I explained everything to them while filling out the contract and I also gave them the info to my lawyer. I'm not a license holder, I suppose having someone with professional credentials put the seller at ease. Hope this helps.

@Danny Tran as a newbie to multifamily myself I found his two day event extremely informative and it provide practical info towards investing into multifamily. Of course in two days you won't be able to learn everything you need to learn to start investing in multifamily.  I do plan on joining his mentoring group and will also be attending his event in November. Hope to see you there!

Is still available?

Hi Bob

I will be attending the event as well

@Rachel H.

We did further research and talked to other property managers in the area. Most of them told me to run from that deal! Unless I want to deal with a lot of bs.

@Jordan Moorhead

I will keep you posted

@Marc Biviano

Thanks for those references I will look into them. Talked to some local managers already and I'm not go through with the purchase.

Fellow investors,

Looking to purchase my first MHP in Blytheville, Arkansas.  Besides calling other property managements companies/landlords for the rent rates and occupancy rates in the area. You guys have any other recommendations on how to get this data? I mainly do  wholesaling so this is a different ball game and process for me. Any tips or advice would be greatly appreciated!

info about the property

19% Cap Rate 

35 out of 75 are occupied

150 to 175 rent per month

Purchase price is 250K for 75 spaces.

Thanks in advance for whatever guidance and info you all could share.