All Forum Posts by: Jason Ray Richardson

I use both craigslist and zillow. It works great for me because most of the people in my area don't really utilize them it is effective for younger folks looking online or people from out of town using the service. If you use cozy they post to realtor.com as well. I have heard people using facebook marketplace with some good results.

Enforce the late fee or evict him. It sounds like this guy is going to keep getting slower and slower. If you dont stop it now you are just going to have more and more stories like this.

As everyone has already stated, there are a lot of negatives to the park deal as you laid it out. However I think that most deals can be good deals can be made good deals by just getting the numbers right. A few of my thoughts, they say advice is worth what you pay for it.

1) What about doing a master lease on the property for a year with an option to buy. Especially if this is your first park that will give you an idea if the upside that you think is there really is or not.

2) Price is too high and so is the interest rate. Maybe negotiate those and get one year interest only on the note to help with cash flow as you try to turn things around.

3) Run some test adds on places like craigslist so that you can get an idea how easy it would be to fill the park if you started bringing in new/used homes to fill the park.

Yes it does. Thanks

A few questions 

1) How many people do you expect in attendance?

2) What's the attire? Business Casual?

3) What's the general purpose of this meeting? Is it just to market potential deals you have to other potential investors? Or is it to discuss what you are doing and get ideas from other investors who might have ideas in that area of investing?

Thanks

Great points by all! If your family is still looking to sell message me and let's talk.

It is definitely a fine line between helping people and enabling people. And if you are in a small town or have multi family you can run risk of those you help telling others and them expecting it too. Then if you don't help them you get accused of being partial and them saying its because one is one race and they are another.

Every one has different investing goals so some are good operating slum lords and some are not. I operate mobile home parks where some people like renting out just the lot and others that love having the park owned unit model of business. Whichever works for you and your geographic area and personal investing goals. As far as the rules I can certainly understand where he's coming from with those exclusions.

200 after setting aside for (cap ex, property management, expenditures, bank note, insurance, taxes). Right now I do my own property management on all but one of my properties but I want to make sure that if I change my mind I don't start loosing money. But as@Kevin Sobilo pointed out depends on what you are working towards and if you are living off the cash flow.

My suggestion would be to start small and get your feet wet. Starting small allows you to make mistakes with less zeros on the end. That's how I started, I bought a park with 19 spaces, mostly tenant owned homes. Maybe even buying a small park in an area where in the future you might could purchase another park so that you still the benefits of scale that bigger parks bring.