All Forum Posts by: John Vashon

Michael, I'm also a RM and QB user.  Are you still using both products today?   Have you upgraded to RM 12 and do you accept payments online with Zego?

@Rachel H. do you know someone who has done this previously, someone I could contact? We want to hire, contract or partner with someone to help us build this competence internally OR we may outsource to a 3rd party.  Thanks!

I have a similar set of circumstances and questions in the mid-west and look forward to listening and learning from the BP community.

I'm looking to make contact with someone who has successfully implemented a plan to fill empty spaces in small family-owned MHPs in rural markets.  By small and rural, I mean 40-50 space parks in towns with some base of employment/government and very modest growth.   Please tell me what you've done, how it works, key elements of the plan, tweaks you've made along the way, etc...   

Generally, it's very difficult to make any money on the homes. If you are park owner, it's best to ONLY get involved with the homes as a means to generate lot rent and maximize the price of the park. Someone could "sweat equity" the homes on nights and weekends but when these costs are fully considered, the homes invariably are break-even proposition at best.

@Justin Escajeda, congrats on finding something that's of interest. Do you have the property under contract? What are the financing terms? What are your questions?

@Jeremiah Johnson, have you found a way around some of the restrictions about using self-directed IRA funds? Specifically "sweat equity" and property management? Have you talked with your IRA custodian about borrowing funds and unrelated business tax income (UBIT) taxes? I'd love to hear more from other investors who have successfully resolved these issues.

@Curt Smith, @Brad Johnson's list is a good one and be certain the contract is assignable and the seller agrees to complete a disclosure provided by you, the buyer. As to the offer price, did you ask the seller or broker their basis for the asking price? Finally, what's your plan for the park and exit strategy? More to the point, at what price do you anticipate selling the park and when?

@Collin Goodwin, had lunch with a guy today, 20 space park in a desirable "foothill" location in N. California and he's paying 3.5%, all inclusive. One additional option to the list by @Brad Johnson is buy, partner or go to work for a MHP PM company.

@Eddie Starr, are you looking to wholesale the deal?