All Forum Posts by: Jesse Pascoe

Thank you both so much for the input. I have been attempting to connect with the Oregon Manufactured Home Association with no luck. Guess I'll have to be more persistent! I really appreciate both of your input on this. Frank, I'm a big fan, I listen to your podcast and read your newsletter. It's your education that has made me feel comfortable to but a MHP. And Jack, I know you're doing great things in this industry as well and are a real professional. Thank you both!

Hi All, I have my first small MHP under contract in Eastern Oregon. It is currently 21 lots and a mix of older mobile homes and some trailers. It's not a real great layout and the lots are odd sizes. They range from 35'x 100' to 40' x 30' with the average being roughly 35' x 75'. I spoke with the planning dept and was told the park is legal- non conforming (grandfathered). They also said that there are no problems regarding set backs currently, but if I replaced any homes the new homes would have to adhere to current codes. If this is indeed correct I certainly have to move some sight around and would most likely lose some spaces. I've heard from other resources that any replacement home would just have to be on the same foot print as current... which seems reasonable. Does anyone have any insight into this matter? Thank you very much in advance.   

Thank you all the input. Today I found a loan amortization schedule in excel, there's also a bunch online. The contract or promissory note and collateral are the next details to work out.

Hi, I have a problem I think I've solved but I lack the experience to work out all the details. I have rental property which is on a large develop able lot with a shop in the city. I worked out a deal to sell it to my long term tenant for $335K with out a realtor. The tenant needs the space and storage, he can not replace it for same price anywhere in our area. His appraisal came in at $305K. I couldn't find any great comps with same bed bath counts really close by that supported a higher value. The comps the appraiser was using did not have the same attributes my buyer/ tenant was looking for though. I don't know what type of loan he is using but I'm assuming FHA.

We've worked out a compromise. I'll sell him the house for $305K he can get financed, plus I will carry a contract for an additional 15K. 

I'm looking for advice and or precautions.

Some questions and concerns I have are:

Collateral?

Contract?

Terms?

any other warnings I may not be considering?

Thanks in advance for any advice anyone has

-Jesse