All Forum Posts by: Charlotte Dunford

@Josh Quinn While it's good to analyze and do your due diligence, it's as equally important to pull the trigger. Once you buy the first one (The first one is always the hardest), the speed will pick up. Here's how my deals progressed over time and you can see the velocity picked up after the first deal. First Deal - SFH while I had a full time job, took 6 months. Second deal - Duplex while I had a full time job, Took 6 months after the first deal. Third deal - 30 lot mobile home park as a full time investor, took 6 months to break into mobile home parks. Fourth deal - 14 lot mobile home, took 2 months. Fifth deal - took one month. Currently I have 3-4 deals going on at all times and this year I plan on closing many more deals. Pull the trigger and watch your speed pick up.

@Nickolay S. Yes it's seller financing. Great advantages to both parties

The tag didn't work - his name is @Avrom W. Smith

@Gary Bimbo I don't do wholesaler but I know an amazing wholesaler who I bought a mobile home from to fill my park. He lives in Australia and the home I closed with him was in GA. He is awesome at what he does. His name is Avrom Smith @avr

@Marvin Meng great post! I've done one here in GA and doing another one in IL. No pay no stay start evicting immediately. I inherited the tenant in IL but eviction is part of real estate.

@Santiago Cazorla for the second tenant, month to month is not necessarily a bad thing. I actually prefer ot because that means you can raise rents immediately. However, you need to make sure that they've been paying. Ask the seller for past 12 months of proof of rent payment of that tenant including checks, money orders, online records. If the seller cant prove ot, you need to ask for a price cut because the numbers changed. The lease doesn't mean a thing, ask for evidence always.

@Daniel Kucner that's the norm. Investment properties are like a business. It's all about numbers. If the numbers work, make an offer, get under contract, and then do your due diligence including showings.

@Jacob Ritter the answers to your questions would only be useful after you've done a couple of deals and have a momentum going. Here's what I mean by that: 1. You don't need a business entity just yetm what you need is a business with paying customers (tenants). Without paying customers, you don't have a business. Go do a deal first and then you can set up an LLC for it. Don't waste money on setting up LLC without any cash coming in. 2. Tax strategies. Different asset types have different tax advantages. Again, without a property, this is invalid. There are books to read on this topic nut don't focus too much on it for now. Do a deal first. 3. Auto-pilot. Once you do a few deals and understand what you are offering your customers, you can then establish a process based on your past deals trial and error. This process would then be repeated thus "autopilot." Without any deals, you can't possibly establish an automatic process that fits your business. All of these I learned from experience building my business. I'd say go do deals first and your questions will be answered through experience.

@Phillip Rosin in mobile home park investing where I'm at. Not only is 12% coc achievable, for one of my heavier value add parks, I'm getting 20% for my investors alone, not even including my split. Consider mobile home parks or another asset class when traditional residential real estate becomes saturated.

@Nick Cooper I disagree with Dave Ramsey. Always use leverage. Remember that the more cash you put in, the lower your cash on cash is it's just Maths.