All Forum Posts by: Ken Swearengen

If it's a good deal and you have good rapport with the owner, I would stick with it. I know some owners who will tell you they spend years on relationship building so they can get deals like this. You may just have to diplomatically press him on it. Make him an offer, but also assure him how you're looking forward to taking care of the tenants and that his legacy will live on in the park. Just my two cents based on discussions I've had with other owner/operators.

I'm not sure how dated it is, but "Deals on Wheels" by Lonnie Scruggs would be a good starting place (you can read it for free here: 

http://www.jsnobles.com/uploads/7/0/9/4/7094813/how_to_buy_sell__finance_used_mobile_homes_for_big_profits_and_cash_flow.pdf

)

Though to the viability of your cashflow expectations, I'd have to defer to someone else in this forum.

@JD Randall Are you looking to buy an entire park or just a single home on a plot of land?

Hi @Avery Bishop assuming price was no issue, where in Maryland would you be willing to house hack? The MLS is dry right now, but if you're willing to wait until the market picks back up in a couple months or try searching non-MLS deals (ex: craigslist or contacting owners directly) you may have some more luck luck.

@Mark Fries This was definitely my biggest blunder too!

Restoration companies are also a good source. If you think about it they specialize in removing smoke damage from fires, so they're probably also good at removing smoke damage from smoking. 

@Justin O'Malley I'm pretty sure it's a commerical real estate company and I'm also pretty sure they operate in the entire state. So hard to say if it's a result of their luck with just Baltimore.

I've done some Habitat for Humanity builds in Govans, hopefully their investments will help the home values in the neighborhood.

@Art Perkitny What tool are you using to generate that heat mak of rent to price ratios?

@Justin Hayden, @Bill Goodland brings up a good point. At least around Baltimore, it seems most side by side duplexes have already been "parcelized" (is that a word?). Most of the ones I've come across that are the whole house are over/under units. In my search most of the side-by-side small multi-family units have been either in the country our in the smaller towns in the area. 

Also, not sure how long you're planning on living in it but if you plan on having kids soon I'd recommend checking out the sex offender registry for the area. We've nixed one house because of some unsavory people that were living to close for comfort.