All Forum Posts by: Ian Poole

Thanks so much Amy! What do you think is a realistic amount of time per week to be able to do something like this? It seems like  as much of a business as it is an investment strategy. 

Hello! I stumbled upon a podcast for raw land investing with Jill and Steven butala. I was wondering if anyone had any experience with this program. I am a novice investor. I have experience with a few rentals but I was attracted to this concept because they use a lot of data collection services to create mailing lists. 
I thought learning how to develop a mailing list would be a a valuable skill. 

But, the service is about 2000 to sign up and 250 a month to access the discounts on their websites and their plan for raw land flipping. The mailing lists look like they would cost about 1000-1500 a piece to get a large enough pool of candidates they say are necessary to procure a deal. Any thoughts would be appreciated. Thanks. 

I'm not a professional so I'm not entirely sure but I would  say mainly utilities: how much is it going to cost to run 110 and have electrical pedestals installed? How much to have gas or propane installed? Is city water and sewer available for the property and if so how much are the tap fees for the municipality? Is it required to have the homes sitting on concrete pads? At a minimum the sites have to be leveled correctly I believe. How much to pave the roads? You could probably go cheap with coliche. And lastly it'll cost at  least $8000 per home to bring in used homes but you can get them financed through 21st mortgage and pass the payment along to the resident. 

Based on the occupancy of 23 tenants x $150, plus an expense ratio of 40% cause you're on a septic, and a 10 cap multitiple this property would probably be worth $250k. It's a definite value add and you shouldn't have to pay up for the pro forma or value add opportunity. I think the most important thing is to make sure there's demand to fill the lots. Why's he having trouble filling lots? It sounds like the park might be in a pretty rural area.

Don't forget to figure in annual expense for trash pick up or lawn care. I would recommend doing good due diligence on the septic tanks. Best of luck to you! 

Try the manufactured housing association for the state. Municipal law regarding mobile home parks is a pretty small niche so they usually know of lawyers that specialize in that thing.