All Forum Posts by: Will G.

Thanks for the input.
One of the parks I was interested in is listed for $1.2m w 88 sites, 17 acres, located in upper ny on a river and is open from april to oct and includes an owner residence. 09 gross was $290k with a $120k adjusted net. On the surface this seems attractive for 7 months of operation.
Thoughts?

lets see, if an 8 x 20' used storage container costs around $2000 and you get 160 sf storage , thats $12.50 a square. Add in $7 s/f for your foundation and $1 for transport etc and you have $20.50 per s/f which is a little less than a simple steel building. But if you could set them on existing pavement or just ground set them then you have a decent advantage. Would people have issue with the height or did you intend to use the high cube models? It sure would get a lot af attention. As far as homes go there is very little if any advantage to using them unless the site is unusual or difficult to get crews to. Think ,insulating, attaching furring to the interior for drywall, limited design parameterers, running ductwork, and mechanicals, asthetics, etc. The modular(factory built) home companys are producing some very cool and modern homes that look similiar (in footprint) to the container houses and are delivered and setup in a day but they still are not able to come close to the national average to site build a home($75 per square)

Hi all,
I am embaking on a new path after many years building residential and would like to get some feedback on rv park investing.I am talking about destination type parks, typically not mixed with mobile homes. Many of the deals I have seen carry cap rates of 11 or 12 percent, but they require on site management (like a full time job). A few of these deals are palatable because they only operate 6 months out of the year. Is this a good return considering the active management role? Is there any chance that the commercial market troubles will drag down the values of these type of properties? Any insight as to how a tepid economy might challange these investments would be appreciated. Thanks

Cashflowllc, I totally understand what you are going through as I have been in the same situation here in austin. This particular deal happened only cause I met the owner many months before the default and trustee sale AND he was cooperative. Otherwise the only guys getting deals around here are the one marketing to distressed owners before default , and that takes some real genius to position correctly. The only way to get some traction may be to pick a neighborhood that is not overrun with investors and dig deep. Make contact with property owners that are not on the market, talk to as many people in yor canvas area as possible, search 90 day old listings and make tons of offers. You may have to wade through many offers before a deal pops up.

If I purchase a property @ trustee sale do I automatically get the previous owners personal property (on the property) or am I required to allow the former owner come and get their belongings?
How long do they have to do so?
Thanks

Hi all,
I just purchased a property via trustee sale at the county courthouse steps in texas, and then learned that the previous owner agreed to rent the property to a couple before the sale. Do I have to honor that lease agreement or can I ask them to leave?