All Forum Posts by: John Cornelius

@Frank Rolfe  Does this work in each state as a way not to run afoul of Dodd-Frank? 

"They also prefer to buy used trailers to fill empty lots at their parks. That keeps expenses down for those paying both the lot rent, or “dirt rent,” which every resident pays each month, and the rent on their trailer — half of which can be applied toward purchasing any available unit. A used three-bedroom trailer can cost between $10,000 and $20,000, depending on its age, and take 10 years or so to pay for. The typical tenant who rents from Rolfe and Reynolds pays $250 or $300 a month in lot rent and another $200 or $300 if also renting a trailer. “The trailer park is people’s last choice,” Rolfe says, “and we recognize that.”

I

@Jack Martin Great thank you very much! 

Hi everyone,

I'm looking into some Mobile Home Parks in Florida and many are offering owner financing with a balloon payment. This is great to acquire the property, but there doesn't seem to be many banks to refinance into once the seller carry-back balloon occurs.  

How easy is it to refi with a traditional bank? 

@Daniel Hyman Agreed! I'm thinking of having it in the private room of a bar/lounge or booking a hotel conference room and charging a nominal fee to help pay for the room. 

@Daniel Hyman Agreed! I'm thinking of having it in the private room of a bar/lounge or booking a hotel conference room and charging a nominal fee to help pay for the room. 

@Brandon Reed Thanks Brandon!!

@Michael S. Thank you! How's the RE market in Manila? I heard the motor traffic might be worse than in LA..

@Ali Boone Definitely out of state!

@Dmitriy Fomichenko Thanks for the info good sir

Hello, I'm a RE investor living in Van Nuys, CA. I'm mainly interested in buy-and-hold type deals. I own a few units on the east coast and looking to add more. I mainly want cash flow with appreciation as an added bonus...

Also, building an apt complex from the ground up is on my "bucket list". I want to do this in the next 10 years.

Nice to meet you,

John

Hi everyone,

I'm starting a local real estate networking club here in Southern California. I want to grow it large enough that we can bring in some guest speakers from out of state, as well as internationally. 

Has any body here started a RE club before? Any tips would be appreciated!!