All Forum Posts by: Jimmy Kennedy

Thanks Dan. You make some very important points. I will keep working on my new numbers. 

Ok I based my ARV on the purchase price and the Reno price. I estimated high being that it is a four unit meaning 4 kitchens, 4 bedrooms, 4 baths, and 4 individual apartments. I will say this is a rough estimate being that I have not seen the inside of the home. With the information available to you guys now, what are your thoughts, and can you please edit the analysis and share you guy's results with me. Yes thanks for pointing out my rookie mistakes. Loving BP RIGHT NOW! I will edit and see what you guys thoughts are. Thank again

Found this one on Zillow, has 4-1/1 units I believe. It is classified as a multifamily home. The repair estimate I calculated $40-$50 sqft for the 2200sqft space complete gut. What are your thoughts? Can you edit on your end and share what you come up with? I would appreciate it greatly.

 Ok guys I need help to see if I'm doing this correctly. Looking for all input, please. Here is a property in Atlanta, Ga that I used the BP Brrr calculator. After reviewing the reports please let me know the pros and cons. I'm also thinking I used the wrong calculator. Thanks in advance for your input.Review here

Thanks Rachel. Yes, the HOA was a factor after I did a little more research. I too will be avoiding HOA starting out. It seems to add complication that I am not ready to sort through as of yet. Thanks again for the advice.

Thanks for this post Dean! This was very inspiring, and very detailed. Your creative idea to fund this project is something I'm thinking to use to start investing. 

Sid. Ok forgive my ignorance, but when you say "Back ended deal" does that mean this is a bad deal? I'm thinking maybe I would be stuck with moving the property if the park requesting this. I really have a lot to concider. 

Hello everyone,

I have currently contacted a owner of a mobile home who is trying to sell for $10,000. This will be my first deal if it goes through, so at this point I am looking for all advice pertaining to mobile home whole selling. I Believe this would be a good starter deal, let me explain. The mobile home is in a park where the comps have sold for $123,000 and upword. The HOA for the park is $560 a month, the average rent on the same street is $1258 a month. At this time the home is rentable with minor repairs. Is this a good deal? What other factors am I missing to calculate? I would like to place the mobile home under contract for the asking price which has been Lowered three times over the last 4 months, which makes me believe she is definitely A motivated seller. I have an appointment with her to go over the property and hopefully put it under contract if deal is approved. Please fill me in on all that I am ignorant of. Lastly but not least I would love to partner in with someone to get a gist of how things operate in the whole selling world. If this is something that someone is interested in or if you know someone that I could contact to get further information on this subject please inform me in your replies.

Thanks guys