All Forum Posts by: Mike Storey

@Kenneth Reimer check out Foremost insurance. They do POH all day long.

We have rehabbed homes from the 70s. It just costs more to rehab. Maybe 40% , but in some cases it makes sense financially. 

We use Metron for about 2yrs now.  They email a spreadsheet with usage and billing to our PM. The water is another line item on the rent due in the tenant portal.  You can set up the billing to capture as much cost as you want.  I do like the fact that the meters will show leaks and other data.  As far as shutting off water for non payment,  we have not had this problem.  If they are not paying the water then they are not paying the rent either,  so time to evict. 

@April Eilers contact Metron in Colorado. They have awesome smart meters that work on the Verizon network. Very cost effective and the software is free from them. They report every five minutes. You can spot toilet leaks and everything else. Chris Cummings is my contact.

@David Benton we invest in mobile homes and parks in the Anderson and Seneca SC markets.

@Ryland Clay Parker honestly you need to decide what type of investments you are comfortable with and your commitment. Are you a hands on doing your own maintence or more project management type. This deal looks overpriced by 50 percent based on cash flow. Yes its pretty but it really doesn't produce. In SC singlewides get 30 to 35k a unit renting at 525 a month when operated as rental units. Not to brag but to add some perspective my last park was ugly and only one unit rented with 10 empty. 85k purchase price. 100k rehab is needed and gross rent 5500 to 6250 a month. Now i am a contractor so that helps with the rehab costs by about 50%. At the end of the day it's making money and that's the point of this.

@Jonathan Perez go to the local Reia. Terry runs it and you can find it on meetup. Com. He also is a contractor. Problem solved!

@Jason Merchey we use Foremost for all our sf and mobiles in SC. I'm sure they have an agent list on their website.

@Jomont Dotton alot depends on the size of the deal and your personal financial abilities. Many regional banks will do loans if you qualify. Feel free to contact me with any questions.