All Forum Posts by: Kevin D.

Interesting.  So just sign over the homes to the folks already renting them at some delta above the market rent.  I like it.  I'll sharpen my pencil to see if that is feasible in due diligence.

@Frank Rolfe Thanks, Frank. The deal size is just over a million, so I’ll call Pierce on Monday morning. We are $800k apart... when the seller caps the 60s/70s model homes, they put a value on them of $45k each.

@Frank Rolfe Frank, thank you for the response. I’m a huge fan of your podcast. I’ve listened to every episode at least twice. I’ll search some of your articles and point the seller to them. If not, maybe I’ll go the appraisal route.

In need of your help... I’m negotiating with a seller of a mobile home park (MHP) and the seller is insisting that the park value should include the capitalized rents of 20 park owned homes (POH). We all know that’s not the correct way to value a park, but I need to point to some article, blog post, or resource to show to the seller so they understand. I’ve been searching and can’t come up with anything. Can anyone share a link to an article that explicitly states to not capitalize the rents of POH?

I’ve been using Luzerne Bank for years and they’ve always done a good job. I work with Brian Burd. 

@Rigo V. Shoot me a private message. I have a good portfolio lender in the area that might be able to help you out. 

that’s great news. Thanks for the info, Chris. 

@Craig Stasnbury Hi Craig, very sorry to hear about your grandmother. What town is your grandmother’s home in? I may be able to help. 

@Marc Winter I have a contractor putting in a new furnace at a 4-unit building now and he is insisting that he has been successful in petitioning the water company in allowing submetering inside the building (off of a 1” main service line). 

I’ve tried myself before and failed, so I can keep you posted if he gets the permissions. 

@Steven Perre When do you want to see the property?