All Forum Posts by: John McConnell

Welcome to the pocket!  nice to meet you! 

Agree with @Robbie Reutzel about setting alerts and for sure checking out the podcasts.  My first 20-30 episodes were going through and grabbing ones I thought would be beneficial to me.  Then I just went through the entire list.  Some of them 2-3 times because there was just so much good info in there.

I would also say check out some of the blog post as there are some very specific stories and walkthroughs.

Stay active and congrats on the 2 new properties!

A lot to think about indeed.  I see I have a lot of reading and learning to do.  Thank you all for the insight!

Great info and Q&A session going on here. So just for my mind to absorb, be sure to check out all markets in the area, get the normal prices and know how to adjust whether above or below local rental prices. Collect the lot and unit rent together at least for 2 years in order to maintain control of the situation and build rapport with the park owners. What about HOA fees? is this a bad thing or not that big of a deal and just roll it up in the cost? The HOA fees I am looking at cover the water, sewer, electric. It is a pretty nominal cost (about equal to the taxes). In this situation would it be better to sell outright or do what you are all talking about and take payments. Also.. for the payments (quoting @John Fedro) 60 months normal with optional 120 month.  Do you just take your cash sale price and divide by 60 or 120 in order to get this number or is the monthly payment a percentage of the total price?  Thanks for all the info!!!

Thanks @Natalie Kolodij!  I think at this point I need to get the rehab costs figured out.  Price is set and low enough that I will not take a hit on it either way (at least that is what I think).  Going to look at it on monday!  Excited and scared as hell.

Looking at possibly landing a MH rehab deal as my very first.  Swallow my pride and dive in to whatever God will throw at me sometimes.  Fingers crossed.  Great info!!! wish me luck! :-)

@Joshua Dorkin and @Brandon Turner

Im sure you two have heard of this before but this is something that I am just discovering and I haven't really heard of it at all in books or anywhere else.  www.rer.org is a lobbying group that directly interfaces with Washington on important Real Estate issues and concerns from financial to zoning to whatever else.  Member only organization and membership is invite only.  Seems to lean toward major CEO and business owners playing a major part in their local communities throughout the US.  I think that a few of our members here would fall into that category.  Just thought I would share this with you guys and maybe suggest finding someone from this organization to join us on a podcast in the future.  I for one would love to hear more about this organization and hopefully someday become a member.  I can't think of anything better than reaching a point in your Real Estate investing career where you can influence lawmaking and policy that impacts all of us at the highest level of our government.

I know it's been a while since this all went down but just reading today. From Facebook.... Residual influence ;-$ very impressive and I'm sure you have done many more campaigns since then. I keep hearing the whispers of direct mail. Maybe one day... Thanks for sharing your story!

welcome to the site @Robert Cook! Plenty of resources. Don't be afraid to just click through the many buttons on the top nav bar. You never know what you will find up there. I would check out @Brandon Turner's book investing in real estate with low or no money down. Of course I would also recommend the ultimate beginners guide as a very first starting point. Good luck!

also did you run into many roadblocks when purchasing? Are you planning on staying there forever? Do you self manage or have a PM?

is it possible to put the properties separately in under each of your names...as well as separate va loans? That would essentially double your lending power right?