All Forum Posts by: Jacob Calbillo

How do you value a small MHP that currently has 15 lots but was approved by the city to expand by another 20 lots? The current owner has received approval hasnt starting to built out the lot space and the utilities have not yet been added so that would obviously be a major expense. How do you factor those into the valuation?

@Rick Pozos great info Rick!! What you said makes a ton of sense.

This is probably a really newbie question but is there a certain number of mobile homes on a parcel of land that turn it a MHP? How many mobile homes can you have on a piece of land before it’s deemed a mobile home lot?

@Andrew K. Thank you. I’ll definitely let you know how it goes.

Great point. Thank you. I will definitely call and ask about that

I have a family friend offering me 7 acres of land for sale in Texas, 30 mins south of San Antonio. It currently has a new doublewide, a single wide and a pretty small lake stocked with fish. He is selling for $300k but will give me a friends and family discount of 25k. Would this be a worthwhile investment for the opportunity to expand it to more lots? Also, I don't think this is zoned as multifamily or zoned for mobile home parks so would it be worth the trouble of getting this zoned correctly?

I have a full time (W-2) job but I also do side contract (1099) work and then I also have a LLC for real estate transactions that I have been doing. I am the owner of that LLC and I do pay self-employment taxes every April. Am I eligible for a solo 401k?

Thank you for your reply Basit. I was reading up on what you sent me and I have another question. I have a LLC and my partner has a separate LLC, could we use a Series LLC together and then split the profits via a K-1?

Check out www.gapclosers.com They fund these kinds of deals.

John,

Thank you for your answer. It answered a lot of my questions as well. Do you have any resources for estimating ARV?

I will hopefully be doing my first multifamily deal soon and am going to partner with someone I trust. He has the cash and I am bringing the deal. When we talked about potential profit splits, he said he could 1099 me and send me my half every month. I am worried about the tax implications of this. How do you typically handle disbursing money in a partnership?