All Forum Posts by: Michael Ballard

Thank you all for the information, this was very helpful.

Hello All

I am looking at purchasing a rental in Milwaukee but the inspection report noted that the main water line coming in the home is a lead pipe.

How concerned should I be about this?

Thanks

Michael

Hey Brian,

Multi Family and Mobile Home Parks.

Thanks

Michael

Hello All,

I am a Seattle investor looking at a few properties in Hot Springs, Arkansas and would like to find a property manager to run these properties by. If you are a property manager or know one in the Hot Springs area please feel free reach out. You can reply to this post or DM me.

Thank you,

Michael

@Rachel H.

Thank you for the advice. I actually have a partner I am working with but we have not yet explored private lending. I'm not entirely sure how to go about that and if my track record would warrant it. I have only been investing since August of 2019. Also, I do not currently own any Mobile Home parks. 

Thanks

@Jack Martin

Thank you for your response. That is some great advice that I will use when I speak to the lenders.

Thank you

@Chandler J

I am currently getting $300 and $500 or my two houses. That is after debt, 5% vacancy, 5% repair, 10% PM, insurance and taxes.

Both of my rentals are Section 8. I also Brrrr'd both my houses.I don't know if those numbers work on turn key properties or not. 

Phew this is a tough one. While I would not say I am an expert I will throw in my two cents. It really depends on your overall short term and long term goals. You can invest in the equity based markets like Seattle, but it can be difficult to cash flow there. Or you can invest in a more cash flow based market like Oklahoma and not see great returns on equity. Many investors have had success in both scenarios. I live in Seattle and own homes and invest in Oklahoma. Both have their pluses and minuses. I look for markets that have decent population growth, income growth, and lower crime. Good luck in your investing.

Hello Bigger Pockets Community,

I am a Seattle Investor interested in purchasing a mobile home park. The seller is willing to finance the property with a very large (65%) down payment. My question is  - Does anyone have an experience with or advise on getting a commercial loan for 70% - 75% of the purchase price and then do seller financing on the down?

Or perhaps a small down from me, plus some combination of commercial loan and seller financing.

And advice would be appreciated.

Thank you

Michael