All Forum Posts by: Jason Yarusi

My family raises homes for a living and we have done so for right around 50 years. With the flooding from Sandy and Irene you really need to do your due diligence on the property to see how the property was remediated, if it did flood, after the storm. Also flood insurance is a killer and with rates beginning to increase for the next 8 years if you are not above the heights for FEMA guidelines you will need to make the decision whether to eat the flood insurance as a line item, Which will get costly or front the expense to elevate to reduce flood risk for the foreseeable future. If you have questions on elevations feel free to ask.

Go for it! Great goal! I just turned 37 and have my own similar goal and look forward to seeing both of us reach them.

My family has inherited six acres in Alabama. Two manufactured homes currently on the lot and zoning would allow for mobile home park. Has well and septic, electricity runs to lot and there are a ton of mobile homes in area and I see most are running off propane. I have read a lot and searched about setting up a park but still have plenty of concerns on this. Anyone who has successfully set up a park have any feedback?

Congrats!

Is anyone out there buying specifically in flood zones as a strategy?

Really appreciate the feedback 

@Bill Gulley 

Very good information and I'll definitely think twice about this. It was with a family member which can bring up a whole new mess of things as well. 

That said there is a lot of equity in the home and that's where the thought stemmed from as their credit was bad and mine is not.

Thank you.

Jason

Thank you very much for the quick response @Jon Holdman I will see what else I can track down on the Line of credit.

If I was to take on an existing mortgage what steps do I need to take to transfer title and mortgage into my name. I would like to put it in my name so I can apply for an HEC.

Thank you.

Hey @Aaron Foster thanks for reaching out. I'm searching down a few angles and will let you know how it goes good or bad. I'm closing on the property today and then will head to the building department.

This is my first post but I have read and received so much great information in the forums and podcasts so thank you.

That said I am also on the verge of also closing my first deal. It's a small single family home on an oversized, not large enough to subdivide, lot with ocean views that the house doesn't suit. My business is building and structural moving and we are going to move the house off the lot and put up a modular home in its place. I have searched the forums for modular financing ideas and haven't been able to come up with much.

We will do the foundation and then have the modular home dropped and set on the foundation but does anyone have any experience with such loans that work well with modulars can lead me down a reasonable path? I spoke to the particular modular company and they have not been too much help so far.

Any help is greatly appreciated.

Best

Jason