All Forum Posts by: Josh Fralish

@Jon Schoeller thanks man that helps alot. I wasnt even sure where to start after I tried to contact him. Now the trick is to find out who it is. The building owner didn't know. I'll just have to dig some.

I just agreed to a deal with a older fellow who has the title to his singlewide mobile home. He pays $155 a month lot rent. After analysis I can make around $350 a month cash flow on it but I'm worried because he doesnt own the lot. I'm new to real estate so i dont know all the details on buying homes on lots. It seems like most people on here are buying the whole trailer park, lol. But is this a smart deal or. Is there something that I'm over looking?should I just flip it so I dont have to deal with the lot rent?

@Theresa Harris thanks! It's a sticky situation though. The owner is giving me a really good deal on th house but it's her family that has been living in it as a renter. I'm not even sure if she has told them that she is selling it yet. I have been by a few times but nobody has been home. From the outside it looks like a good deal. But.... idk

I'm closing on a house in a couple weeks and it is currently occupied with renters who have not paid for months. The current owner will not evict them. After I sign on the house what can I do? Do I have to give them time to see if they will start paying me? Can I evict immediately? Not sure what to do, I'm new to this with my first house closed on this May.

@Anthony Venezia

1. Watch many bigger pocket podcast

2. Read a few books. I'm reading (The book on rental property investing) next I will read (rich dad poor dad) but these are just what attracted me.

3. Inquire about other people opinions. It would be best to do the research first so you have some idea of how things kinda work before you get taken by a smooth talker.

4. Good luck!!

Update... A quick claim deed just came in the mail for me and I did not have to sign anything. It has my name on it. Do I now own this lot? What if it has leans against it or taxes not paid or whatever? Am I now responsible even though I haven't signed anything?

@Terry N. Yes some do both, but a good manager will stay very busy. They might not help you look for properties but they may know of some. Dont expect a manager to be as active as a realitor. I only use a manager and she has her realitors license as well so she can do all the paperwork for a deal if I find a FSBO. I like to try to find a property instead of using a realitor so my manager is good enough for me because she can right up contracts if I need her too. Also if I find a house already on MLS she would represent me on the buyer side.

Albany area landlord here! just started a few months back but am working on my 3rd deal now!

@Terry N. Thanks man! After talking to a few property owners they all pretty much had the same thing to say. Everyone successful that I know has a property manager and those that dont have gone many months without tenants and dont rent out the houses for as much as they could. My advise is find a manager first thing and let them know what kind of house your looking for. They might have clients willing to sell!

@Saheed Oseni thanks man! It was a tough choice but hopefully it will all work out. Had to sell my 4wheeler and golf cart to get my second property but its cash flowing as well!