All Forum Posts by: Jay Styles

@Joe Homs Thanks for the insight Joe. That makes sense and definitely did not know that.   I found out that the land is leased so like you said, it's not worth my time. 

Hello,

I'm curious to know if anyone has invested in a mobile home in Torrance, California. These homes are around my price range for 60,000 -80,000 as an new investor so would like to know your thoughts.  Any advice that you could give as an a investor in a mobile home or someone who almost invested in a mobile home in this area, but back out I would like to hear from your experiences.

Thanks!

@James Carlson Thanks for the insight James. Right now a conventional loan would be out of the question do to my student loans and credit score. I'm looking at a partnership or private loan or some other creative financing.

@Forrest Faulconer Hey Forrest, thanks for responding. The answer to your first question, if I can can have both that would be great! But, if I can find the best deal that would make up for the travel, I guess that's even better.  If you don't mind sharing, what areas or pockets in Oklahoma do you recommend for me to look at properties?

@Don Spafford Thanks for the insight Don. A 10% down payment sounds good. What are the contingencies for the down payment?  Also, I just sent you a request so I can PM you. 

@Chris Freeburg Thanks for the insight Chris. That's actually one of the reasons why I chose Colorado for cheap airfare. And the short term rental strategy is something to think about. 

@Kory McCain Thanks for the comment. I started to look at some properties yesterday.  From your experience and expertise what pockets of Idaho should I be looking for properties?

@Steve K. I appreciate your insight Steve. Talking to a mortgage broker right now would probably be pointless due to my credit score dropping due to student loans. Right now I'm sitting at a 580 score and a FHA loan is probably my BEST and ONLY bet, and while house hacking is a really great strategy I'm not sure if I really want a stranger in my house around my soon to be newborn. These are tough decisions that I eventually have to make. Thanks again!

@Mike Wadsley Thanks for the insight Mike. Having a partner of private lender is definitely a strategy that I'm considering, however as of right now I'm less interested in the appreciation and more into the cash flow, so Colorado might not be the market for me. 

@Rachel Mazzanti At this stage, I'm just trying to figure out the best route for me to take so have not seriously research properties as of yet. I'm thinking of finding single family homes in working class neighborhoods out of state for 60,000 to 80,000.