All Forum Posts by: Margie Pierce

Did you snag that one on James St???

I'm from Haslett.  You need to get hold of whoever took over the estate of a guy named Doc Wallace who owned numerous houses on Lake Lansing.  He passed away as did his wife in 2016 and I am sure there is a deal to be made there.  Call Eyde and see if they know of a good agent for you to work with, he is the best real estate person in town, granted he is mostly commercial.  They are tough but smart.

Hi Jared Maltbie, yes I am looking for a vacation rental the I can Airbnb part time and use part time.  I like that there is what  I would call a mother in law or accessory dwelling unit with a normal tenant that will help offset the mortgage.  

I was looking into buying a condo in the Island West development in Davenport. HOA is reasonable at ~$200, there is a small pool and gym, etc., but I just learned that I have to pay a "HOA Initiation fee" of $5k. This seems very odd to me as I thought those were only charges when the units were first purchased. As a northerner who doesn't live in the area I am wary of being sold a raw deal.

What about a mobile home on a piece of land? Would you be able to put up a wall and make two units? Some of the double and triple wides are large and the bedrooms and bathrooms are at opposite sides of the house so it would be easy to do, you could create a simple kitchen easily enough. 

I’m first looking for a multi family adept and investor friendly agent. 

Second, I had a “guru” who operates out of Florida that the market down there is our of step with other parts of the country (and of course they want $10k to elaborate) .  Up I. Minneapolis where I live the market is likely at its peak and just starting to soften ever so slightly. I wondered what local folks are seeing in the market in Orlando? 

Thanks!

Franco Bacco, this may not be a bad idea, perhaps I can borrow $50k, for a total of $175k. That should allow me to buy something I’d imagine. 

Sounds like I’m limited to my heloc. Thanks everyone! 

Thanks! What about tenants - in - common? Has anyone actually done it?

Ok guys, as I look at MHP listings I think to myself - hmmm, if I only had about $300k to put down....then thinking further I realized that I’ll soon have a $125k heloc and a $150k solo 401k. Any way to use these two financial instruments in the purchase of a MHP (with or without leverage)?  Thanks!