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All Forum Posts by: Joseph Gray

Joseph Gray has started 3 posts and replied 12 times.

Post: Cash Out Refinance Options

Joseph GrayPosted
  • Rental Property Investor
  • Lenoir, NC
  • Posts 12
  • Votes 3

Recently purchased a home for $85K Cash and have put about $13K into it for a total investment of $97K.

It should appraise for around $130K.

I would like to hang on to the property and rent it but need to recoup my investment of $97K for other investment opportunities.

Anyone know who the best lenders might be where I can keep the house in the LLC name and pull out a minimum of 80% LTV based on on appraised value?

Thank you!! :)

Post: Where Can I Find $100K For Mobile Home Park

Joseph GrayPosted
  • Rental Property Investor
  • Lenoir, NC
  • Posts 12
  • Votes 3

Found a mobile home park which I would love to purchase for the estimated cash flow and low liability.

It's land only with lots divided out and 8 mobile homes in the park.

The seller is renting them for around $150/Month, but I think they could easily rent for $210/month or more ($1,680/Month).

The seller is asking $100K, but I feel she may accept less. I don't know how to go about finding financing for this deal as I'm a little cash strapped right now with another home. Any ideas/advice would be absolutely appreciated! :)