All Forum Posts by: Mike G.

@Ken Rishel

In regards to your post where you mention the Lonnie deal system and how attorneys are 1/2 way there figuring out how a legal variation of what he did can be applied to today's legal waters with DFA and Safe act.  Given this thread is 2+ years old, can you elaborate on this and any new developments that have come about.  Are people still doing the Lonnie system legally today? 

@Guy Gimenez

Amen to your comment. That's the most sense of anything I have seen in the last half of comments on this thread. 

Clearly Obama passed some laws regarding lending that were not around in Lonnie deal days but it seems to me this practice can still be done given you obtain the appropriate license(s) and abide by the law and structure the language in your promissory note and contract accordingly. 

Ken Rishel I thank you so much for the massive amount of leads to #1 obtain information about the journey to owning a MHP and #2 disclosing key players in that MHP space that are of great resource for those seeking knowledge, advice, expertise and direction in their quest to MHP ownership. I am beginning my journey into this world and I'm both excited and unsure as most would expect. As expected I have more questions than answers but I will read the forums here and seek out path you carved out for us newbies in your thread above. Just wanted to say thanks and I'll keep reading and following the path u lay out in your post from this one and ones in the future. It clear to me and to others that you know your stuff when it comes to Mobile home parks. Thanks Ken!!!

send a message to the neighbor to mind their own business. Ill let you interpret what way im referring to.......

searching by location still does not work correctly. I put las vegas and NV and i still get posts to every other part of the country except what i filtered for?  why?

Dawn Brown that sounds very exciting. Def interested to learn terms, rate, etc and what if any restrictions on the type of investment as well. Keep me posted 😁

@amanda fishman 

Thanks Amanda I will check that video out and see what John has to say about it. I will look into the laws here in NV as well. Thanks for the response 

Jordan Sutherland do you have any friends that are car dealers? Ask around in your network. Texas has over 46000 dealers new and used in it. Surely someone 2nd or 3rd removed from you had one. Pay them a fee of $500 and go to the auction with them and buy your car and have them retail it to you. That way you can go the day or two ahead of the auction and walk the lot, view all the inventory running test the cars and check the auto check for title and accident/ history report. Then when the car runs you will be buying it at wholesale prices and not paying retail. Also as a former dealer myself, stick to Honda or Toyota. Best bang for your buck, parts are available and cheap and those cars outlast their American counterparts. That's my .02

yes it does I moved out last July and it's been positive cash flow since with minimal issues and 100% occupied 

@Mindy Jensen all valid points to consider. sounds like SFH in a non HOA community would be a better option.

@Andrew Johnson thats a great point when looking at the vacation rentals in the longterm view. If assessments are only going to go up, the question is will the rising rents keep up with the rising assessments interms of not affecting your cash flow too negatively. Sounds like condos have more downside than up. Thanks for the feedback