All Forum Posts by: Hal Cranmer

@Jacob Bindler - Sounds very interesting. I just sent you a PM. Thanks. Hal

Nathan,

What are you thinking when you say I should 'check my options?' I really appreciate all the advice and am just trying to figure out the best way to do this.

Thanks,

Hal

Thanks Jay. I really appreciate the effort you put in the response. I will definitely look for the discount broker and list it in the MLS. That is my first thought. I told a really good realtor in the area that I will take 2-3 weeks to try to sell it and then hand it over to them if it doesn't sell.

Hi,

I have flipped several properties and have multiple rentals. Now I am about to move out of state and purchase several assisted living facilities. The housing market it is pretty hot in my area. A house just up the street from mine sold in a day for about what I would like to get for mine. There are no other houses like ours on the market in our area.

Before I have a realtor sell it, I would really like to sell it myself. Could anyone give me some ideas on how to go about selling it myself? I plan to list on all the regular places (Craigslist, Zillow, etc). What about a low-cost MLS access? Or all the FSBO sites. Any thoughts would be greatly appreciated.

I'm in the Minneapolis/St. Paul area.

Thanks,

Hal

This is a truly passive income opportunity. There are only two things you have to do with this deal:

1. Fund it
2. Cash your rent checks

It is a package of 5 mobile homes in a well established park in the Corpus Christie, TX area. The address I put above is the management company for the park. The mobile homes break down to:

1. 1988 2 BR 2 Ba $22,000  $383/month net rent
2. 4x2006 Homes 1 BR 1Ba $22,500 each $282/month net rent

The reason the first one is a little less expensive is the age. You can buy anywhere from one of them to all five. The management company will take care of everything, and send you a check for the above amounts each month. They keep the lot rent, so they are happy to give you the mobile home rent. 

The rents are net of all costs other than maintenance when it comes up. Yes there may be a few maintenance issues from time to time. The management company will send you a bill when there are. But in the five years I've been investing in these, and the seven homes I have, I think I've probably paid about $200 in maintenance.

Buying these vs. a traditional rental means you don't have to:

• Rehab them
• Find tenants
• Manage tenants
• Worry about collecting the rent
• Coordinate contractors for fix things

Or all the other headaches that come with a rental. You just receive a check each month and you deposit it. You can live anywhere in the world and easily profit from these rentals. 

I personally have several of these mobile homes in my SDIRA and they have been very profitable for me.

While it is true mobile homes don't appreciate, they can still make you a bunch of money. Think of these investments more as a note than a rental home. If the first one costs $22,000 and returns $383 for 20 years, a note like that is over a 20% return. Granted, as it gets to the end of its life, the mobile home rent will be less. But you are still looking at a 16-17% return for doing nothing but putting money in your bank account.

The package of 4 2006 homes could easily last 30 years.

If 20 or 30 years sounds like it might be a long time and you want out earlier, the park can find another investor and sell your home for you.

Here is a link to a video about the management company:

MT-TX Properties

This is truly a turnkey, passive income opportunity. They regularly send these out to their list of investors, so it might go quickly. Please let me know if you are interested right away. Thank you.

Eric,

To tell you the truth, I have not dug into the investment a whole lot. I have not done a ton of due diligence for it. Commercial property is not something I invest in much. I don't get any commission out of it.A friend brought me this investment and I told him I would look it over. Considering where I am right now, I decided I would pass on it. I'm about to move out of the area so it would be difficult for me to keep a watchful eye on it. I thought there might be other people who would like to look into it further.  My friend just says he knows the people doing it and they are trustworthy. Your question is a good one and I would expect anyone who is interested should ask it.

Thanks,

Hal

@Darrin Carey Thanks so much for the tips. I haven't invested in anything like this before. I was going to ask to see information about the developer's past projects, but their financials would be good as well. The 75% apparently will come from a local bank. I will be checking them out as well.

A mortgage broker friend of mine just brought me a land deal in a town about 45 minutes away from me south of Minneapolis, MN. A developer needs an investor to purchase a piece of land that he wants to build a hotel on. The hotel is a small chain hotel and there is another one from the chain in the town I live in. My parents stay in my town's hotel when they come to visit me. The hotel is very nice and always seems to be crowded. It has been in business for at least 5 years.

The deal would be for an investor(s) to put 25% down on a $450K piece of land. Then the hotel owner would seek financing to buy the investor(s) out in 6 months to a year for $525K. We would not have to do anything except make payments on the loan until it was taken out.

The risk is the developer doesn't perform and we don't get the company to refinance and buy us out.

I have asked for pro-forma and the research they have done. They have sent it over to me. I will look over it this weekend. I have also asked for some references for the developer to see if he has a track record.

I am thinking of putting some money in this from my Self-Directed IRA if everything checks out. I have potentially two other investors interested in this. But it might be good to spread the wealth a little. Plus my other two investors may be a bit iffy. Anyone out there want to learn more and possibly participate?

Mark,

My apologies. I didn't see your comment until just now. You can set it up so they go directly into the IRA each month or they can be sent to you. Of course you can't cash them. You have to send them to the IRA company directly and they cash them.

Thanks,

Hal

Have you ever wanted to own rental property, but heard all the horror stories? You know the ones:

• Tenants who trash the place
• Tenants who don’t want to pay the rent
• Toilets overflowing in the middle of the night
• City inspectors who check up on you
• All the advertising and showings you have to do to fill the place with renters

Not to mention you have to spend a lot of time finding a good deal on a house before you even become a landlord. Then you have to go through all kinds of bank qualifications for the loan.

After you buy the place, you may have to put more money into it for repairs. Plus the time it takes doing some of the repairs yourself, or dealing with contractors to fix it well and at a reasonable price.

Once you have the renters moved in, and you total up what you’re making, it still might not be much after expenses. Once you take out the mortgage, taxes, insurance, utilities, repairs and other expenses, you might be left with a couple hundred bucks a month.

Some people LOSE money each month. They think ‘at least my tenant is paying off the mortgage’, or ‘at least it will help my taxes’.

And what – you paid $100 thousand? $200 thousand? More for the place? That’s a pretty piddly return on your investment.

Yuck. Hearing those stories makes you wonder why anyone would want to be a landlord.

How About Just Collecting A Check Every Month – and NOTHING ELSE?

There’s an easier way. I’ve been doing it since 2011 and it works great. Here’s the deal. The real estate I’ve been investing in:

• Costs only $20,000-$40,000 to buy
• Rents for about $450-500 per month
• Is managed by a professional management company who takes care of everything and charges you only 6% of the rent ($30/month on $500 rent)
• Has very few maintenance bills (couple $hundred a year)
• Has regular rent increases
• Costs very little for insurance (around $200/year) and taxes (around $500 or less per year)

Best of all, it is easy to set these up in a Self-Directed IRA. That way all the rents you make can be tax-free.

All You Do Is Check Your Bank Statement Each Month

What are these investments you ask? They are mobile homes.

I know what you’re thinking. Mobile homes may have more high maintenance tenants than houses.

Not on this deal. I work with a professional mobile home management company. They have owned the parks for years. They are fully licensed as mobile home retailers and bonded.

That means you never have to find and manage tenants. Or the homes themselves.

The owner’s professionalism shows in everything they do. They have not missed a payment to me since I started investing in them four years ago. I have multiple mobile homes and have been thoroughly impressed.

These guys are looking for investors to purchase mobile homes in their parks. Then they rent the homes out for the investor.

The investor gets the rent, and the management company gets the lot rent for the space in the park. Everyone wins.

Here’s an example of one:

Cost of Mobile Home:

• Mobile Home #1 pays $480 per month for $29,500
• Closing costs are $250
• Taxes are $500
• Insurance is $200

After your first year, you will be making over 17% less any maintenance costs. Those returns will go up as they raise the rents in future years.

Even if you borrow the money on a credit card, you could still make money – for years to come!

And all you have to do is check your bank account!

Investing with an IRA is Very Simple

Mobile Homes and rental properties are perfect investments to put in a Self-Directed IRA. The management company can easily send the checks either to you or directly to your IRA company.

There are rules about these investments and you should talk to a professional Self-Directed IRA custodian before you invest any money.

As long as we are talking about investing rules, I am not a professional investment advisor. This is more of a testimonial of how good this investment is for me, and to help my friends who own the parks.

If you contact me, I can put you in touch with them. They can provide references, management agreements and whatever other documents you would like to see.

Interested? Just email, call or text me to let me know. This is about the most hands-off, easiest way to invest in real estate there is – at a very low cost.