All Forum Posts by: Jaime Felber

@Samuel Coronado - I have certainly tried that. Finding phone numbers / getting responses is tough. I get about a 5% response rate at the moment. Is this something you have better luck with?

Jaime

@Peter P. That makes more sense, and clears up a lot of variables too. Thank you!

@Rachel H. - I'll check out Craigslist, thank you!

@Rachel H. - Thank you! Fundamentally, I want a balance between an efficient, market-rate park and tenants who are happy and comfortable. As a follow-up, do you have any experience in filling empty lots? My approach is FB Marketplace / looking for companies that do infill.

Hi Roger,

I really appreciate your detailed and thoughtful answer. I'm not factoring revenue from selling the homes in to my analysis - my major concern is reducing operating costs. I am happy to sell the homes for reasonable amounts, and would always prefer to sell to the tenant if they can / want to buy it on a payment plan. I have no interest in trying to take advantage of them, I just don't want the aggravation of maintenance jobs. I've been there before and I would like to avoid it. Beyond that, a happy tenant is often the best tenant, and I like to keep things that way.

Can you explain point 2 a little more? I can understand that the cost of the home over time shouldn't really exceed the cost of a home outright - as you said, the money is in the TOH park sale in the future. Are you suggesting though that the cost of the 'mortgage' should be less than the current rental of the home?

Also, with point 4 - is 18 months not a very short window to pay down the cost of a home?

I appreciate your help!

Kindest,

Jaime

Thank you Peter! I

know loopnet, and will check out Crexi as well. Do you have any thoughts on using land comps as a way to value purchase price of mobile homes vs other methods like direct cap etc?

Jaime

Hi BP Community,

I'm looking for advice any pitfalls there might be when converting POH to TOH. I'm talking about a park which currently has a mix of the both. I want all current POH tenants to switch, and will require any new tenants to own their own home.

How is it done? What legal steps need to be taken, and what to do if a tenant does not want to switch?

Thank you!

Hi BP community,

New to this forum, and want to ask - how do you get comps for land values or market rents? The usual way I'd do it - redfin, realtor, zillow etc. and getting comps for SFH for sale don't show me appropriate comps for what I'm looking for. I've looked up local GIS maps and checked for tax assessments, but I don't think that's at market rate either.

Same question for market rent - when searching for other parks in the area, it's very hard to get anyone to call / email me back for information.

Any suggestions?

Thank you!