All Forum Posts by: Dustin DeSmith

@Michael Henry sent you my cell#

@Michael Henry Yes he is. He wants 75K down and I think he said 7-8% then a balloon payment after a number of years.

Thank you for all of the information. I think I am going to pass on this one. I don't want to tie up the time or resources at the moment.

@Dmitri K. He said taxes are $7200 and his ins is $1500/ yr, so yeah I guess I was wondering how much to budget for cap X. only 2 short roads through the park off city roads, and they are as good as the city roads, "doesn't say much lol" We walked the park in under 5 minutes, pointing out the trailers and telling about the tenants. The park isn't the prettiest but it fits the small town not nicer not worse just a small working class town, so it has no frills. I know the company where several of the tenants work, and my W2 job even supplies that company "I commute to MN from WI daily" but that's a story for another day. So would you go with a 30% Any further thoughts?

I found the mobile home park for sale, I met with the owner and discussed some numbers.

Asking price $350,000

city water/sewer paid by tenants

house rented at $700/mo

1 mobile home owned by park rented at $600/mo

1 vacant lot no house 1 vacant trailer owner is selling not paying "maybe I'll buy it to rent or sell owner financing?".

21 rented lots at $225/mo

5 have dogs at $50/mo

giving us $6275/mo or $75,300/mo Gross

so that $5,550/mo or $66,600 annually net minus financing

He removes the snow himself but I got a quote for $200 per snowfall. I do live close so I guess I could do it but I don't want to so I'm trying to budget it in.

so even with the 2 vacant it seems to be kicking off a good ROI? What do you guys think?

Thanks Dustin

Welcome. Thank you for your service and happy investing.

What size multi-family? If you wouldn't mind pming some info would be greatly appreciated.

Cheers, Dustin

@Rich Hupper I'm sorry I didn't go more in depth, @Bob Malecki is a wealth of knowledge and his answer is spot on.

@Rich Hupper Most notes are purchased at a discount not at a premium "unless it's a premium note" Giving a higher rate of return than the face value interest rate.

Welcome and happy investing.