All Forum Posts by: Charlotte Dunford

@Haley Powell You can buy out of state at any point. It's the market and the asset itself that matters. There are processes you can implement to make out of state investing work very well. The Majority of my portfolio is out of state. Never had an issue due to distance. 

@Pantaleon C. I don't do storage, just mobile home parks. I can connect you with someone though.

@Jon Guy I've done several seller financing deals on mobile home parks. The agent doesn't care. They make their comission regardless as long as you close.

@DeAndrea D. Because investor offers are lower for single family homes. For example, a SFH I own is renting for $1250/month and is appraised for $215,000. A investor wouldn't want to pay $215,000, they'd want to pay around $125,000. 1% rule, right? However, a home buyer will probably consider $215,000 or higher if they really like the house.

@Michael Lopez You don't necessarily need to be close to the park. Most of my parks are out of state. You just need to have the processes and systems in place to make it work for you.

@Michael Lopez While we have lots of bubbles in multi-family and single family asset classes, there are other asset classes that not in a buble/late part in the cycle. Mobile home parks, self-storage, mini-storage are not frothy and you can really make your cash stretch and use leverage to acquire as many as 30 pads in mobile home parks, or more. I don't really suggest waiting, start now and invest in something that's not saturated. 

@Steve LeBlanc Consider changing your arena maybe? Pivot to a less saturated space such as mobile home parks (I'm here), self-storage, mini-storage, note investing. Apartments are incredibly competitive. 

A track record is important. You are providing a product for your investors. How could they trust you if you haven't done it before? 

@Steve LeBlanc First of all, congrats! Commercial loans lower than $300k is tough. With the amount of cash you have, you should consider seller fianancing. Although less common for apartments than in mobile home parks where I've done seller financing deals, but they are out there. 

@Mitchell Frisby Evict immediately! Today. Trust me on this, the longer you wait, the most money you lose. Get yourself a good real estate attorney to strategize this.