All Forum Posts by: Meredith Mihm

Cool-- we're doing a BRRRR in Fountain City right now. I see you're in La Crosse-- we're in Winona, but I teach at Viterbo, so I'm down here a lot. What are market rents in Sparta? I've only found a few things online, so I'm having a hard time analyzing deals!

Sparta, Wisconsin... anyone investing there? Anyone grow up there? We're looking at investing there, and would love to find someone with some experience! 

@Shaun J. car flipping?  My husband used to flip Subarus when we lived in Colorado.  @Braden Coleman, that's a good point.  It looks to be cash flowing, but  I don't know how the utilities are done-- apparently the residents of the mobile homes pay a $25 utility fee (the house pays their own) for utilities.  They are separately metered for electric only... 

https://drive.google.com/file/d/0B1dqJUPPyXrKb1BUT...

Maybe I'm just lazy-- it looks like a long, slow process, and I'm in this mindset of BRRR, which is more fix it and forget about it =)

I'm worried too, my gut just says no on this one.Whatever its past was, they've for sure given up on it now! I have no idea if it was filled in the past. 

 One pad has a mini (very mini) storage that cash flows $290/mo, and there is enough unused land to store some boats, RVs etc...

We talked about selling the house, and then trying to get the park filled up...

So here's the scoop. The MLS listing was written really carelessly (all caps, no punctuation, etc.), which made is wonder about the owner. But when we got there, there were lot rent signs up with the name of an investment company who owns 6 or 8 other mobile home parks! So, being newbies, we figure they know more than we do; there must he a good reason they are letting it go. It is in a beautiful area though.

Thanks! And good news...(drumroll)... today, I walked in the door, and the STINK is finally gone! It was part mold, part bat poop, and part uncapped plumbing pipes, and I was starting to think it would never go away. Big sigh of relief!

Going to look at a 15 unit mobile home park tomorrow. 4/15 pads occupied (@ $235/mo), plus one storage unit rented @ $290/mo plus one farm house rented @425/mo. So $1500ish/mo. City water and sewer, but not metered. What should I look for? Tearing through Frank and Dave's book tonight, because I only listened to a couple of podcasts on this subject before I happened upon this deal. Also, it's in a tiny town of 500, 15 or 20 minutes away from a lot of things-- is that a dealbreaker?? 

Thanks, it's great to hear some words of encouragement. Jared, I couldn't believe they accepted our first offer. Gutting itntook much longer than I thought, but it was a full gut. Today we started moving the wall to make the new kitchen layout, so it feels like phase two is started. 

It's in Fountain City, WI. Just across the Mississippi river from where we live in Minnesota...