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All Forum Posts by: Joshua Diaz

Joshua Diaz has started 3 posts and replied 264 times.

Post: Mobile Home Park Investor Meet - Up in NYC / MHP tribe

Joshua Diaz
Pro Member
Posted
  • Rental Property Investor
  • Bronx, NY
  • Posts 269
  • Votes 165
Originally posted by @Roman Tomkiv:

We will have an AWESOME guest, Charles DeHart, a co-founder of Sunrise Capital Investors, Mobile Home Park Academy and co-host of a Mobile Home Park Investing podcast along with Kevin Bupp!

Please spread the word! It will be exciting event!

 That’s amazing! He’s one of the guys I follow right along with Kevin Bupp!

Post: First Mobile Home Park purchase

Joshua Diaz
Pro Member
Posted
  • Rental Property Investor
  • Bronx, NY
  • Posts 269
  • Votes 165

Awesome.  Thanks for sharing!

Would you mind saying what your monthly cash flow would be?

Post: Mobile Home Park Investor Meet - Up in NYC / MHP tribe

Joshua Diaz
Pro Member
Posted
  • Rental Property Investor
  • Bronx, NY
  • Posts 269
  • Votes 165

It is unfortunate I was not able to make the last one but I will try to make this one.  Thank you for hosting these.

Post: What do you think of this off market Mobile Home Park?

Joshua Diaz
Pro Member
Posted
  • Rental Property Investor
  • Bronx, NY
  • Posts 269
  • Votes 165

Definitely an interesting deal.  All the park owned homes are scary and if I bought this, I would try to make those into tenant owned homes.

Now I don’t own any MHP like Mindy but one thing I have considered is the dumpster vs. individual can issue.

With the cans you definitely save on the cost for dumpsters but then you would likely have the garbage pickup trucks coming grouch your park and wearing down your roads.  Depending on what kind of road it is, this is something I would consider.

Just throwing out another perspective.

Post: Mobile Home Park Opportunity for me. Please advise.

Joshua Diaz
Pro Member
Posted
  • Rental Property Investor
  • Bronx, NY
  • Posts 269
  • Votes 165

The six month lease on the lot rents doesn’t make me feel good about it but he bigger issue is why only 8 lots rented.  

Is it because of management issues or is the area not good?

Since you are a property manager , you probably know the area best and already have the answer to that.

Otherwise find out what the demand is for the park by running some test ads.

I’d find out about the area first before I look at theboark but that’s just me.

Sadly I’m not experienced enough to give a more clear answer on whether you should move forward but hoping someone else chimes in and I wish you the best.

Post: BRRRR Calculator Suggestion

Joshua Diaz
Pro Member
Posted
  • Rental Property Investor
  • Bronx, NY
  • Posts 269
  • Votes 165

I think I’m understanding what you are trying to do.  The problem is that the BP calculators aren’t meant for MHP.

But what I would do is two separate analyses.

The first one being the income, expenses, and cash flow of the park as it is now.

The second being the projected income, expenses, and cash flow after the 20 units are added.  Including every single rehab cost you can think of to make it happen.

Take those two pdf files to the lender and show the improvement that you are planning to make.

Perhaps also put it into a packet that outlines your plan and how you are going to make this all happen.  The better the presentation looks, the better for you.

Hope this helps.

Post: NO Pets Policy Scenario- tenant has a doctors note to have a dog. Other tenant gives doctors note of severe pet alergies. who wins?

Joshua Diaz
Pro Member
Posted
  • Rental Property Investor
  • Bronx, NY
  • Posts 269
  • Votes 165
Originally posted by @Patricia Steiner:

Oh, you're going to "love" this...your Pet Policy as a landlord and owner goes out the window when a tenant claims to have a trained service animal or an emotional support animal. And, to make matters even worse, you're allowed to ask ONLY these two verification questions:

American Disability Act regarding Service Animals:

1. "Is this a service animal that is required because of a disability?"

2.  "What task has the dog been trained to perform."

Fair Housing Act regarding Emotional Support Animals:

1. "Does the person seeking to use the live with the animal have a disability?"

2. "Does the person making the request have a disability-related need for an assistance animal?"  

You are not allowed to ask "what's wrong with you?" You can only ask about the need for a service animal, which is legally considered an assisted device - just as a cane or walker are classified. And, the ADA and FHA supercede state laws and local ordinances.

You are not allowed to ask that the animal demonstrate the support task.

Pet Fees/Deposits.  "Service and assistance animals are not technically pets and owners do not have to pay pet fees. The landlord, however, can charge a security deposit (but not a separate pet deposit or larger one because of the pet) and may still seek money from the tenant if there is any damage caused by the animal to the home."  You may not increase the rent for the pet.  

Registry.  There is not one.  The pet does not have to be registered as a service or assistance pet.  For emotional support pets, a letter from a physician can be required - but these are available for online purchase for $99.

Bottom line:  If a tenant claims to have a disability requiring a service animal (considered only to be dogs, or small ponies/horses per ADA), you have no choice to allow the animal and you may not charge additional rent or deposit.  For emotional support pets (which could be a hamster...no limit on pet type), the tenant would need to provide an order from a doctor, psychologist, or other mental health professional - and you have to "reasonably" accommodate.

And, that's the way it is...failure to comply includes imprisonment and fines. 

Fun, huh?  

This is such an important topic I wish to ask this:  even if the animal threatens the health of a neighbor or roommate via severe allergies or asthma?

Post: Mississippi Mobile Home Park

Joshua Diaz
Pro Member
Posted
  • Rental Property Investor
  • Bronx, NY
  • Posts 269
  • Votes 165
Originally posted by @Jason Ray Richardson:
Originally posted by @Joshua Diaz:

Awesome job!  How many lots  is this one?

As it's laid out now, 18. There are more than that sub-meters where they used to have more but as new homes moved in it wasn't done right. But with the cost of moving things around probably not worth moving homes over to use those extra meters.

Good deal!

Post: Mississippi Mobile Home Park

Joshua Diaz
Pro Member
Posted
  • Rental Property Investor
  • Bronx, NY
  • Posts 269
  • Votes 165

Awesome job!  How many lots  is this one?

Post: Investor in WA State - Mobile Home Park Analysis

Joshua Diaz
Pro Member
Posted
  • Rental Property Investor
  • Bronx, NY
  • Posts 269
  • Votes 165

They are one of the largest owners of mobile home parks in the U.S.  

Fifth largest if I’m not mistaken