All Forum Posts by: Kay Fakunle

Hi @Michael J. there is a whole lot for you to consider before moving forward. @Dan V. ask some excellent questions. I recommend you immediately buy and read a 2020 book called The Mobile Home Park Manifesto. Then try to get a copy of the home study course from Frank and Dave. I think it is at Mobile Home University online or you might locate it used.

This could be a huge opportunity or a disaster for you. I will say that you are going to want to get out of the business of renting mobile homes. It is usually a nightmare. You will want to get those 13 homes and any more you add into the names/ownership of the tenants ASAP. You want to be in the business of leasing dirt.

I do a free, no strings attached Mentor call at noon most Wednesdays (I have nothing to sell!) You are welcome to join tomorrow. PM me for details. Happy Investing!

1 Vote

Originally posted by @Tom Gimer:

Billig, Cooper, Ashland, Auction Brokers... I would think that covers 80%.

Agree with Tom. Alex Cooper also has some regular properties. I’d say the biggest is Ashland in my opinion

1 Vote

Baltimore, Maryland

@AJ S. Show me a REIT that puts $10k in my pocket every month over time with a $50k initial seed investment and I'll sell all my properties and invest in it.

3 Votes

@Tim Herman.. Thanks again for taking the time. Stopped me from making an emotional investment.

0 Votes

@Tim Herman Oh and definitely was a WAG!! 🤣

0 Votes

@Tim Herman my partner is a realtor so I assume 3% instead of 6%. I think you’re right about the bathroom and bedroom. Doesn’t look like there’s much in the deal to make it worth it. Perhaps if I leave out the bedroom and bathroom addition.

0 Votes

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*This link comes directly from our calculators, based on information input by the member who posted.

Hello Group,

need some help analyzing my first flip attempt. Ive done a number of buy and holds at much lower price range and now have an opportunity for a flip. Here are the facts,

- Property is listed at $400k

- ive been told the seller wont accept anything less than $350k

- Has about $35k worth of work by my estimate

- Plan to add new bedroom and bath in basement,

- update kitchen cabinets and appliances

- Update 2 bathrooms

- almost all flooring

- Paint all interior

- waterproof 1 wall in basement

Really need some help validating my numbers. Its just surprising how little profit is in the deal

0 Votes

@David Chin Welcome to BP! For your first property, I would recommend house hacking in a multi-unit. Look up an organization called NACA. It's what I would do if i was just starting out.

Good Luck!

Kay

0 Votes

My family and I are in PR today and tomorrow. Real estate here seems really interesting. Any agents willing to show some properties?

0 Votes

@Dan that’s interesting and makes sense. Especially since there’s no telling when next they could accumulate such a sum. Will have to see if there’s an appetite for multi unit investing. Thanks!

0 Votes

All Forum Posts by: Kay Fakunle

Kay Fakunle has started 3 posts and replied 22 times.

Post: What criteria do you look at for mobile home parks

Post: What are the major auctions for the greater Baltimore area?

Post: Areas that with houses for 50k

Post: [Calc Review] Help me analyze this deal. First attempt at a flip.

Post: [Calc Review] Help me analyze this deal. First attempt at a flip.

Post: [Calc Review] Help me analyze this deal. First attempt at a flip.

Post: [Calc Review] Help me analyze this deal. First attempt at a flip.

Post: Hello BP! Newbie investor from Parsippany, NJ

Post: Realtors in Puerto Rico

Post: What would you do with $80k?