All Forum Posts by: Mary Ainsworth

I already own property in Oklahoma (a quad) but I live in San Diego, so I want to enter my own market and this would be a more affordable way to do that.

I have already had experience in analyzing house flips so I'm confident in my skill set there, but how should I expect mobile house flips to differ from normal house flips when it comes to ANALYZING the deal

Any help is very much appreciated!! Thanks :)

PS. If anyone knows anyone mobile home investing in Southern CA, I'd love to be connected!

Google Andy Teasley. He is the mobile home flipping god for So Cal and he regularly speaks at RE meet ups. I have heard his spiel twice. My opinion is he works harder than I desire to work on my RE investments. Never the less, you will want to hear his presentation to Know what is possible. For example I highly suspect he purchases for a value that will shock you. For example 5 years ago he was purchasing for $3k. His rehab costs were less than what I Typically pay to paint the interior of one of my rehabs. virtually everyone doing mobile home flips in So cal has heard Andy’s presentation.

@Justin R. did a higher end mobile home flip in San Diego quite a few years ago (6 years ago?). He typically achieves good return on his efforts but I do not believe I ever saw/heard his final numbers of this effort. The question is would he do another especially with return that he can achieve on his smaller development efforts? I am genuinely curious but would guess he would not at this stage of his RE investing path.

My belief is most value is to be added on highest cost asset. Asset over $1k/ft is likely to value from an added bathroom significantly more than an asset valued at $500/ft. I have not rehabbed a mobile home, but they are some of the cheapest RE assets which leads me to believe significant effort is necessary to add significant value. Versus my last rehab an added half bathroom was worth ~$50k according to the data.

Good luck

Thanks so much for the info, Dan! I have already started researching Andy and reached out to Justin too, thanks for those contacts. And that is good insight regarding the level of effort and ROI. At this point in my investing career I'm okay with exerting more effort than I necessarily need to as I'm still learning a lot and right now what I DO have to offer is time. But I suspect eventually I will get to that point as well where it may not be worth it!

0 Votes

San Diego, California

Hello!

I'm interested in entering the mobile home investing space and I wanted to see if anyone has any guidance on underwriting these deals?

I already own property in Oklahoma (a quad) but I live in San Diego, so I want to enter my own market and this would be a more affordable way to do that.

Any help is very much appreciated!! Thanks :)

PS. If anyone knows anyone mobile home investing in Southern CA, I'd love to be connected!

1 Vote

San Diego, California

I just sent you a referral over DM for someone I would use, hope that helps! And let me know if you're still looking for a lender on that deal - I do DSCR and bridge loans

0 Votes

Oakland, California

Quote from @Geoffrey Paugam:

We need good lenders with competitive interest rates who will fund our multifamily deals.

Hey Geoffrey, just sent you a PM with my email but our DSCR rates start at 6.00% go up to 8.5% but the majority are in the high 6's. And our flips/bridge loans start at 8.99% and go up to 11.99% if it involves ground up construction.

We also normally charge just 1 point and lend up to 90% LTC for bridge, 80% LTV for DSCR

0 Votes

Allentown, Pennsylvania

Hey Dan, I could help here or at least get you an extra quote, just sent you a PM

0 Votes

Pittsburgh, Pennsylvania

Hi Luke, I think I can help here, I sent you a PM!

0 Votes

Columbus, Georgia

Quote from @Michael Palma:

I am looking for funding on a particular property that we would like to rent out. It's 474 sq ft and I have spoken to several hard money lenders and they seem to have the min sq ft at 480. I am in the process of some of them trying to work with me on this, but I am curious if anyone can recommend a lender that doesn't have this requirement, or if anyone has dealt with this before.

Hi Michael, I sent you a PM! I think I can help

0 Votes

Hi Shane, I sent you a PM as I think we can get you a soft quote! Feel free to email me for all the terms/rates

0 Votes

Manchester, New Hampshire

Hi Laurens! A little late here but I think we can get you a great soft quote! I sent you a PM with all some basic lending specs, feel free to email me if you'd like a quote

0 Votes

Tampa, Florida

Hey Matthew, just sent you a PM, I think I could help. We offer only 80% LTV but very compeitive rates and terms

Good luck!

1 Vote

Houston, Texas

All Forum Posts by: Mary Ainsworth

Mary Ainsworth has started 30 posts and replied 226 times.

Post: Mobile Home Flipping - How to analyze?

Post: Mobile Home Flipping - How to analyze?

Post: Single Family Homes

Post: Looking for great lenders in Allentown PA

Post: Looking for a DSCR loan

Post: Looking for a Portfolio Lender

Post: Hard Money Lender for a 30 year fixed rental loan- Under 480 sq ft. (474 sq ft)

Post: Under Contract Looking for Hard Money/Financing / Potential JV

Post: We are looking for a great lender!

Post: 85% LTV DSCR Loan for Fourplex in Texas

Mary Ainsworth has started 30 posts and replied 226 times.

Biggerpockets Logo Post: Mobile Home Flipping - How to analyze?

Biggerpockets Logo Post: Mobile Home Flipping - How to analyze?

Biggerpockets Logo Post: Single Family Homes

Biggerpockets Logo Post: Looking for great lenders in Allentown PA

Biggerpockets Logo Post: Looking for a DSCR loan

Biggerpockets Logo Post: Looking for a Portfolio Lender

Biggerpockets Logo Post: Hard Money Lender for a 30 year fixed rental loan- Under 480 sq ft. (474 sq ft)

Biggerpockets Logo Post: Under Contract Looking for Hard Money/Financing / Potential JV

Biggerpockets Logo Post: We are looking for a great lender!

Biggerpockets Logo Post: 85% LTV DSCR Loan for Fourplex in Texas

Post: Mobile Home Flipping - How to analyze?

Post: Mobile Home Flipping - How to analyze?

Post: Single Family Homes

Post: Looking for great lenders in Allentown PA

Post: Looking for a DSCR loan

Post: Looking for a Portfolio Lender

Post: Hard Money Lender for a 30 year fixed rental loan- Under 480 sq ft. (474 sq ft)

Post: Under Contract Looking for Hard Money/Financing / Potential JV

Post: We are looking for a great lender!

Post: 85% LTV DSCR Loan for Fourplex in Texas