All Forum Posts by: Jeffrey Bland

Indeed. I am going to either use a property management company or keep the same one that has been running it and who also has the city relationship.  

OK. CMBS loan is a new term for me as I am new to REI. Thank you for the seasoned input. I had been researching a blanket loan. I have only run some preliminaries and I expect the monthly cash flow to exceed $6k. As far as ownership....the seller owns(with bank financing) all units. The tenants sign a note with the seller to buy the units and usually they don't pay them all the way off so he then takes back the unit and all equity and sells them to someone else. I think only a couple have been paid down to nearly $0. Did I answer all your questions Bill F.? Also, there is a partner to the seller that runs the property for his part in the partnership. I think he is open to continue his role. I have scheduled a time to speak with him about partnering with me, although I'm unsure what I would bring to the partnership at this point with no money.

TY Ryan

75 or so spaces in park and no open pads either

Thank you @Omar Kahn and @Bill F.  Seller financing is not an option due to seller rolling his equity thru 1031 to invest in sfr's for fewer monthly transactions and estate planning as seller is older.  I wasn't aware of the commercial loan aspect either.  

I have an opportunity to buy a mobile home community that does rent to own mobile homes.  I don't have the $500K(20%) to put down for a conventional loan.  I know I could probably go hard money but my concern is being able to refi into a normal bank loan within 6-12 months because I'm certain my equity won't be sufficient by then, even if I'm reinvesting all profits, and especially since the payments will be interest only.  Has anyone had any experience with this and would you help a fellow investor out please?

TY Omar and Barry.  My question, which seems to have been confirmed, was simply to ascertain the depth and wholeness of the BP calculators. I think they're pretty spot-on from what I've learned and seen up to now. I think they're a great tool for beginners and pros alike. 

TY @Kuba F. 

Anyone have any experience buying a lot and putting a new-build small house on it?  I am looking for guidance on zoning and construction questions. 

Does anyone use any other calculators from elsewhere to confirm that a deal is good before buying the property?  If so and if BP will allow, please tell me what you use.