All Forum Posts by: Joseph Pike

I have an onsite property manager.  I was wondering if anybody had a certain style lease/agreement written out that they use with their onsite property manager.  If so I was hoping that i could see what anybody used.  Thanks again in advanced

Hello B.P.  

Let me start off by saying thanks @Brandon Turner and @Joshua Dorkin for all the episodes of podcast.  Especially the for having the ones on mobile home parks, I have listened religiously ever since I have discovered the sight.  Although I am guilty for not getting on as much as i should.    

I have been investing in property for a while now buying apartments, houses, etc but because of having the shows on mobile home parks I am purchasing my first mobile home park.  Which now leads me into my questions.

The park is 33 lots which will be dealing with the most rental units to date that I have.

1st question - What is the best online app/management system to have tenants pay, I know I have heard of Landlords using online sights for tenants to pay towards but sometimes it is hard to keep track of everything.  Which i would hope with whatever app it is I can set it up where it does automatic with drawls.  The current landlord of the park does it herself to 60% of the tenants on the first of the month.  Which I am looking for an app that will do as much as possible so the less I have to worry about.

2nd - I currently use google voice number for my flips that I do, but for the park I want something a little better.  I believe that I have heard of people using vumber linked to podio where it sorts and screens phone calls a little better.  Does anyone have better suggestions. 

3rd - If you have any other suggestions with any other online apps that would be greatly appreciated. 

Thanks again B.P. world

I agree with Michael Hayworth the tenants are full of ****. Unless the dogs are keeping the neighbors awake then wait like he said to. In my experience of you ask for true paper work stating that it is an "actual trained service dog" and the paper work can not be off an online site. They never come up with the paperwork.

Thank you @Steve Osowicz and @Pavel Reyes Valdes for getting back with me so quickly. 

Pavel I sent you a message with my contact info and what I am interested in. 

I am a local investor in Meade county Kentucky.  I am looking to expand of of Meade county.  I am interested in connecting with a whole seller or real estate agent to help me find apartments in Louisville Kentucky, or mobile home parks in Kentucky or southern Indiana

@Matthew Bond Thanks for letting me know.  But sadly that is a little further north than I'd like to travel right now.  

Congrats on your first deal.  Keep us posted how it all works out and jump on here if you have any other questions.

@Erik Hitzelberger Great point, rules of thumb are always rules of thumb.  That is not always what you are looking for.  Yes @James Beam it is hard to find 2%-1% in the local north central areas of Kentucky, but there are other methods to look at.  You mention the west end over J-town.  Yes you can invest in that area and will follow the guide lines of the 2% rule.  Be aware though, if you invest in a low income area all your cash flow will be going into repairs and maintenance, and court cost dealing with the tenants.  I am located in Meade county ky, which is mainly a middle class area.  Here it is hard to find anything that follow that rule of thumb.  So you have to make own methods that work for yourself.  My guide lines are, will it pay for itself in 10 - 15 years, can I make the 1st and 2nd months rent cover taxes and insurance, and is there money left over after each months mortgage payment.  Those are guide lines that I follow, if so I buy it.  You have to get creative to make purchasing property work for you in your area.  Just remember double check your math and the numbers will never lie to you.

@Ken Rishel Thanks for all the helpful information and congratulation. 

@Account Closed Thanks for the advice, my letters that I have sent to houses, I have gotten great response from them.  Which it has been very basic yellow letters very short and to the point and either to expired listings or pre foreclosures.  Which I got my layout that I use from google.  Now this is more of a niche market and it's hard for me to example letters.  

So I've typed some up to different parks and I have kept it short and to the point I've stated who I am and complimented them on there park and addressed to where it was at.  And stated that I would like to have the first opportunity to purchase the park if they ever decide to sell or are thinking of selling.  My opinion I think less is more, but like you said what is the perfect letter.