All Forum Posts by: Jared K.

Mark Gruetzmacher sorry for the late response, I'm back at college in Spearfish now so I will probably not make most of the meetings but I will do my best to show up. I believe the next meeting is on the 31st.

A motivated seller has emailed my partner and I about two mobile homes they have to sell asap. One is $6000 the other $8000 and the owners are being evicted from the mobile home because the new owners of the park don't allow rentals. The $8000 one is mostly renovated but needs drywall (which is already purchased but needs to be put up) and there is water damage in the bathroom and it also has a deck. The $6000 one has had a tenant in it for 2 years and has a mud room that the sellers were planning on taking out. The $8000 one is from 1973 and I believe the other one is from the 70s too. They are both owned free and clear. The current owners estimate it will cost about $2000 per home to move. The current owners have also said they have put about $30,000 into the two trailers. They need to sell them by September 1st. I want to pay a 10% down payment and then pay the rest off in the form of monthly payments for the next 12 months. What other details should we know about and, from what I've mentioned, should we go through with this? Any advice or criticisms are welcome, thanks!

On July 27th there will be a REI meeting at the downtown Starbucks located in the Hotel Alex Johnson in Rapid City, South Dakota. We will be meeting in the Crazy Horse Room at around 5pm for anyone who is interested!

I'm currently looking at the possibility of buying a 3-4 plex using an FHA loan. You can get them for like 3.5% down and average credit, but you have to live in the property.

@Mark Gruetzmacher Myself, my partner, @Roger Watson, and probably some new wholesalers (not sure on their names).

@Gunnar Barbee Yeah my partner couldn't get the room reserved until yesterday, sorry for the very short notice! If we do another meeting we will be sure to announce it well in advance!

On June 29th there will be a REI meeting at the downtown Starbucks located in the Hotel Alex Johnson in Rapid City, South Dakota. We will be meeting in the Crazy Horse Room at around 5pm for anyone who is interested!

@Jae Cunningham Great! Which Starbucks are you thinking? And is it still planned for May 21st at noon?

@Brennan Lytle - Welcome to BP, glad to see another local! @Jae Cunningham - Is the meeting in Rapid?

@Jae Cunningham

Do you know any HML or know anyone who knows HML in Montana who would lend in Western SD? Thanks!

SD BP members,

My colleague and I are looking to flip a house in Rapid City over the summer, are there any members in SD who know of a hard money lender who would be willing to lend in the Rapid City area? Thanks.

Sincerely,

Jared