All Forum Posts by: Kyle McDonald

I know you said you didn't want to rent it, but I would serious consider brring that thing. Refinance it and pay yourself back what you need.

I bought a place when I was 19, I'm 25 now and it is basically paid for. I close on a 200k house in a couple weeks that I got for 78k as a forecloser, I am going to rehab it, move in, and rent my paid for house out to make my new house payment. Since I will have a 100k of equity in my new place I plan on refinancing it and buying more with that money. 

Just my thoughts and what I am doing, good luck!

Well still on the look out, talked to a guy today who would have been interested but it wasn't where he invested at (just my luck lol). So now I'm am back on the hunt.

Met with the people and got all of the drawings and lay out and this one is way better than what I own. So failure isn't a option, to much money to be made on it to fail.

Hey Mark, I talked go my buddy. How would he go about getting in touch with you?

@Charlie DeHart

Thanks man I am going to check out some of these leads and see what I can come up with. 

I meet with the sellers Wednesday to get all of the info from them, going to try a couple routes and see what happens.

I have a buddy in ft worth I am trying my hardest to get involved in real estate. He just got a decent sized insurance settlement an I told him if he invests it right he could be set in the next 5 to 7 years. Think you could help him out? 

@Charlie DeHart 

^why is it not allowing me to mention people? 

 I am new to this world in a lot of ways, so excuse my ignorance lol. How does one locate or go about finding "a hard money lender"? 

 Well currently is has about 18 spaces total some of which are RV hook ups. I would get 350 for a 30 amp and 375 for a 50 amp. Now if I own the RV I get 600 total utilities included. Mobile homes 375 for the space, if I own the mobile home 650 to 700 not including utilities. I think with 50k and some time and effort my 20k goat is doable, I personally from what I know can't find a reason its not.

I didn't list this either but only half of the property is being used right now so there is room to double what it is already there. So lets say on the conservative side I only rent lots with a average of 350 x18 spaces that's 6300$ now if I double the spaces I am at 12600$. That's just if I don't own anything, and rent spots, so the potential is there no doubt.

 I guess I should have been more thorough about my other park. I've doubled the income of the one I own now since November, problem is I am running out of room. Now this isn't just mobile homes this is RVs as well, in my area you would be surprised at the people that live in RVs, or that will rent to own one from you. This other park is about 8 miles from the one I own now. With the better location and the amount of people I turn away at my current park I am being super realistic, 20k is doable I think with in 2 years easy. Now just for the sake of argument, lets say I only reach half that goal, 120k yearly gross on a 200k investments is pretty good lol.

I have about 165k in the park I own right now, and it is on track to do about 8100 this month. I think it will do at least 70k this year no problem.

 Ehh if I had to guess around 50k give or take 10k. See the park I have now is full like no more spaces no more room to make spaces. The amount of people I turn down to bring a trailer or a rv in is enough to probably do 10 a month or close to it.

No I do not have any type of investor deck, and reason being I've never done anything with a investor, just because its always seemed easier to just go this far without one.

@Percy N. See if that works? I tried earlier and it didn't tag.