All Forum Posts by: Will G.

thanks for the replies!

Thomas, are you purchasing brand new or used homes?

Hi pocketeers,

Where do all the new mobile homes that get sold end up? How does one get new tenent owned homes into a park?

I have heard of rent to own, does that ever work on older, not so nice park owned homes? Has anyone ever allowed a dealer to place and sell a home from one of your vacant lots?

Thanks

check this "opportunity", ...to loose money that is, for 2.3m you can get $138k of net! Located on clarksville tn, ne of nashville.

https://www.realtracs.net/listings/views/grid?listingIds=2161063,2161071,2161103,2162020,2162023&fieldset=buying-client&signature=chX2~Q1huwEbzCjgH!BGZmfM~UCYED1mGcQPMYVvRN2sX

Is anyone jumping on 6 caps for "c" properties in minor/submarkets?

Chris,

It is tough investing everywhere! And we are late in the r.e. cycle, so defensive investing is paramount!

Don't get sucked into the frenzy and let your guard down. If no deals are in your area, consider alternatives, like reits, syndacation, mobile homes, lot splits,looking further north etc.

Value investing in real estate is predicated on: a distressed sale, death,foreclosure, a really dumb seller, problem no one wants to deal with, non obvious opportunity to reposition a property, rezoning potential etc. 

In a market where all you need is a sign out front to get top dollar, there is no reason one should expect any "deals" on the mls or other obvious sources. So dig for the non obvious:-)

Great post and shows more thought than the average investor, which equals better chance at success!

Of course the first step in not getting sued is dont be negligent AND be proactive, document that there are no trip hazards, that water heater is set to factory temp, gfi's are working etc etc. Have tenant sign off, all window/door locks working, smoke alarms active, and agree to notify immediately if any safety/security components,need repair. 

I am not sure i would sleep well with only $1m in umbrella.... saw a post where a child was scaled by too hot water in cali and got $3m judgement, and another big judgement because of broken door lock allowed an x boyfriend to enter and assault tenant.

I think prepare for the worst and hope for the best is appropriate here.

Ok, the llc gets sued, and you are personally insulated from the suit....., so are YOU defending the llc in that suit or just going to let them get a judgement and theoretically force sale of property? I guess thats fine if you have no equity, but you would still be on the hook with the bank? Hence the non recourse loans offered by freddie.

Insure beyond what could possibly go wrong

i dont know now  how fanatical your county is but, i have seen folks put through the ringer on properties with FAR less wetland area than 90 percent. A friend has 5 acres in Martin co with .22 acres of it considered wetland, so far...2 years 4 months trying to get permission to build one house! Wetland studies, impact zones, remediation, engineering... expensive! and he is about to give up, which is what the county wants, so approach with caution and get something from them in writing before you buy

been through this with several attorneys and it seems nowadays the corporate veil is a thin net and not a blanket. You will have to setup, manage and run it, in specific manner, keep perfect records etc and it still is no gaurantee. So no matter, you will want an umbrella policy, on top of your hazard and liability, covering the unlikely event of suit, and mostly because that ins co has a team of lawyers, whose job is to pay the least amount possible in a suit. So use the llc if it helps with ownership, taxes, whatever but NOT to c.y.a.

Hi all,

Maryville tn outside of knoxville and what the heck is my cap rate? i keep getting conflicting info, on the cap rate to use for offers on "c" multifam

Some say 7, others say 8, bank says minimum of 8

whatta you guys think?

if it is on the mls i have looked at it. If you like i can render an opinion on a specific property as there are many that have been sitting on the market for a while due to location