All Forum Posts by: Grant Moffett

Thanks so much! Appreciate the response and information!

Hey guys! My wife and I are looking at a deal for a mobile home park. It's new territory for us since we've only previously invested in small multi family apartments.Most of these are Lease to Own mobile homes. Was wondering with any of you seasoned mobile home park investors, have you found what the average turnover rate was for you? We'd prefer lot rent but just want to factor that into our numbers. Thanks so much!

Thank you all, this is great information. I'm going to start dialing for dollars.

I bought a 6 unit complex that I have owner financing on for 6 months. I'll be looking to refinance my rehab money back out of the property around that 6 month mark post rehab and finding renters. Are there lenders out there in the multi family space that will finance me out of the owner financing with a low seasoning period like this? Or will I have to get some sort of bridge loan to get a years worth of performance out of the deal. I'll be into the property for 190k when the rehab is finished. Gross rents will total in the range of 3500-4000. 

I just closed on a 6 unit complex in TN. We are looking to execute the BRRR method with this property and have 6 months to refinance the property as we are on owner financing for that period of time. Im seeking either a private money lender or a company that will refinance the 6 units with a lower seasoning period. Any recommendations would be great. We are in the first month of the rehab so there is time but I wanted to get my search started now.

@Chris M.this is awesome, Great job!

Amanda, 

I hire most of my work out beyond a few things here and there I can handle myself. Basically would just have the work done with them in mind. 

Thank you Teri. Ill keep that in mind and have something written up prior to.

Is there any problem or has anyone had any problem flipping a house for a pre determined buyer? Such as a friend. I'm experienced in the area but have always sold them to normal everyday buyers. I view it as a win for me as i can make some money off the deal while still saving him money by not going the normal MLS route. Does anyone have any advice in this area?