All Forum Posts by: Jason Ray Richardson

 There are others that can expound on this more than I can, but as I see it...

Debt partner is someone that just wants a particular return in a particular time frame. You might make monthly payments or a lump sum at a certain date agreed upon (sale date, refinance date, etc) they don't control the direction of the park as long as you pay

Equity partner owns an agreed upon percentage of the park for investing a particular amount of money. Typically a longer term partner. Some are more active then others.

 Sorry I misread what you said earlier about the occupancy rate. Like someone else has already said looks like you need to bring a partner in at least in the short term. Maybe with a debt position and not an equity one.

Sell them if they aren't underwater then live to invest another day.

What happened to the other tenants? Were they evictions that you had to do, didn't like change in ownership? I agree with the others get those things rented ASAP is priority number 1. Did you get owner financing? If so, then maybe you can approach the seller and ask for a few months of no payments or interest only in light of the current situation.

So are you doing this deal or asking if anyone is interested? If you are doing the deal, Great! If selling it, send me some numbers on rents, expenses, etc.

I made the mistake of using them. Smacked my credit score with all of the inquires. I ended up getting a bunch of small credit line credit cards (one as low as 500). Then after they charged me I had one credit card issuer cancel my card because they found out they had applied for it for me. I should have stuck with the old adage that if it sounds too good to be true it probably is. They didn't even get the line that they "pre approved" me for

Cozy is nice but with it being a free a service and no having been bought out I wonder how long they are going to stay the way they are. I decided on Tenant cloud. Though not without it's problems (like not having phone support) I found that it checked off all of the boxes I was looking for. Decent price, app for landlord and tenant, ability for tenant to pay electronically, landlord website that syndicates your listing out to other sites like Zillow, being able to take pictures of receipts from app to file. Depends on what you are looking for as to whether Tenant cloud is your answer because there are certainly a lot of options out there. I do like cozy because it syndicates your listing to realtor.com which is a sight tenant cloud does not.

Sure, I just sent it to you.

21st Mortgage has the CASH program you might could look into.  The fastest way is going to be able to move them in yourself versus waiting on others. But some owners do move in specials in which they pay for part of moving cost if someone will move their home into the park. Or if they move in the first few months are free with a 2 year lease as an example.