All Forum Posts by: Jocelyn Hinz

I’m in a similar situation right now. Have a self storage deal under contract. It’s underperforming but has so much potential. We have a good price on it but I go back and forth daily (hourly!) on whether or not we should go through with it. We would lose 18k earnest money and we’ve spent almost 15 in due diligence so it would be a bummer of a loss but better than owning a non performing million dollar property right? I don’t know what the answer is. Might see if we can get a price break and then still move forward. 

@Angel Villarreal thank you that is super helpful! Appreciate any and all advice!  I love seeing success stories like yours, keeps me motivated!

It’s going in north idaho in city limits, which means city water and sewer which isn’t both a blessing and a curse. 

Thank you for the response! Yes we’re budgeting about 20k per space and I think that’s going to be about right. Still a profitable venture even at that price, RV parks are the way to go! Thanks again Angel

Congratulations! Would love to hear more about the site development. We’re about to embark on developing a 45 spot RV park but our costs seem much higher than yours. Hopefully we’re overestimating! 

Zach, how did this go for you? Were you able to build the RV Park? My husband and I are exploring almost an identical situation. Would love to chat!

Jaquita I’m very interested to see how this goes for you! My husband and I are exploring building an RV Park on some land we have, the numbers are amazing. Would love to chat. 

Chantz did you ever make any headway on this? Looking to do the same thing

Hello BP! Looking for some advice on a judicial foreclosure here in Idaho. Most foreclosures here are non-judicial, so this is new to me. There is a property I'm looking at that is going to sheriff's sale and I'm trying to make sure I fully understand the right of redemption. I know that the borrower has up to six months to redeem (the property is less than 20 acres). But what I can't seem to get clear on, is what they would need to pay? Just the amount paid by the auction winner? Or that plus the difference owed to the bank? What about if improvements were done to the house in the meantime? Any help would be much appreciated.

Thank you @Jay Hinrichs and @Rick H. Very helpful information. Hopefully I'll be talking to them this week and I'll be getting a prliminary title report as well!