All Forum Posts by: Doug Pintarch

The above responses are correct, you'll have to make calls and see how MH's are treated.  In PA here, they are legally "Vehicles" because they are titled, so there are no mortgages on them.  There are finance companies that will underwrite them and call them mortgages, but they are typically 5-10 years long and are treated as car loans.  (Proof of constant full coverage insurance needed and get repossessed for non-payment)   Not an appreciating asset, but if you can get a nice one to cash flow or buy the whole damned park why not?   As long as you know what you're getting.

Our first STR condo had them and we did a complete gut and reno and they were in great shape and we had them sprayed and scraped off anyway. Giant PITA and as soon as you dust them they are full of feathers or hairs or bits of whatever you use to dust them with...and God himself can't help you clean them thoroughly if someone gets a stain up there or squashes a spider.

@Joe Splitrock   Well said, sir!!

@Jim K.

A few questions first, Jim...

Do you have lots of "Drive" and a newfound "Passion" for real estate investing?   If not, the money won't help you and this entire post is moot.

Have you started "Building your brand" yet?  Because you'll need to impress people you may run across who have no idea how successful you are convinced you'll be.

Did you form your LLC yet? If not, have you googled "Forming an LLC for no apparent reason but I know I want need one" at least 2 dozen times and printed the results for your "Research Notebook"??

Oh, wait...you're actually a real estate investor already.   Never mind all the above that I pulled off the recent post section to help you out.

Enjoy dreaming of tropical beaches and little umbrellas in your drinks. Then go fix the wall and get back to making money!

:)

That happened to a colleague of mine here in PA, Coty.  Do you or any of your business accounts have anything at all to do with any marijuana businesses?   He was a minority partner in one not based here and they shut the door in his face when they found out.  After 4 years with them.

Kevin!

Great initiative, and I think a great plan.  One thing that struck me as soon as I read your letter, though...and I'm not trying to be a wet blanket so don't take this that way, but my first impression was that you called my mobile home pretty much a lump of crap when you said "I am interested in buying a home like yours in hopes of making it look wonderful once again"!  

Would "I am interested in buying a home like yours that I can put a little rehab and updating into and keep as part of the community" and then work the rest of your close in there sound better?   

I am not a marketer or a direct mailer, just throwing you an opinion!

Stay active and positive and go!

Wow.   There's an unexpected zombie thread revival and review.  

We owe $355K on $558K.

 Damn, John.  WELL DONE Sir.

There's some peace of mind, Mike!    If your cat writes the check and signs it with a paw print the bank couldn't care less as long as it doesn't bounce.   :)