All Forum Posts by: Miles Presha

Recently re-fi'd to pay off tax debt. Going to walk w an extra 80K from the refi.  We are not sure whether or not to invest in some turnkeys, or  do some remodeling to our house - which could entail the cost of us having to move out during construction.  We area family of four living in a small 2 br house.  My oldest son is prob going to college in fall 2022.  I don't want that 80k just sitting in the bank so we are open to some professional advice.  What do you guys think?

@Charlene Isoh Not bad cashflow! Did you use a turnkey company or did you go straight with a broker?  

All good points.  Thank you, guys. Not sure they want to sell, but yes, that IRS payment is a big one.  Maybe work on chipping away and refi down the road.  Thanks for the feedback!

My client has an issue -- 140K IRS bill. They recently closed on a house they were renting to own. They are broke, but the house has almost 200K equity. What are some realistic options they can pursue? Are there any lenders that would issue a HELOC or possibly hard money? What do you think?

@Caleb Heimsoth I hear you.  I am aware of the "rule" regarding rural investments...but I wasn't sure how far away from a MSA is TOO FAR.  I'm probably just trying to make sense of something that looks appealing, which is the wrong way to go.  Thanks for chiming in.  You're right, the town population just seems too small....

Hi, guys...I have a lead on 2 mobile home parks about 90 miles from St. Louis and also Jefferson City. I haven't run the numbers thoroughly yet, but so far it seems like they might be reasonably priced.  The town  where the properties are located has a population of 3,000.  It is off major highways and there is Walmart in town as well.  The parks are about 70% occupied and have potential to raise lot rents.  Expenses in the park are minimal (so far)  Each park is 30 plus spaces. Thoughts?

How much cashflow do you clear after everything? I looked at a duplex deal and it only cleared like $200 a month all together. Or do you think buying cheap SFRs a better deal? Tough to say.....

 Congrats on the deal!

No financing at those prices ?I'd like to leverage some of those properties if you think that's possible. 

No financing at those prices ?I'd like to leverage some of those properties if you think that's possible. So you know how many times you know your

@James Wise Cash. Looking to getting a HELOC within the next 6 months. Could be more, but I want to start moderately. I also do mobile home investing in L.A., which has a low entry point and great cashflow...but NO EQUITY. Would like to look into . 2-4 . units . in CLEvizzle.