All Forum Posts by: Joe Pitrolo

Cole,
Is your strategy to buy Parks or just a piece of land with a few trailers?
I've noticed there seems to be some awesome Parks available in Tampa?
What is your take on Parks in Tampa?
Is there a problem with Hurricances, property taxes? I know the average park rent is very attractive.

On average with lonnie Deals, I am getting around 5k note financed at 10-12% over three year. I currently have five homes with around 25k in notes, this is all in the last year. I have three rental units that I want to eventually sell also.
I started buying four in a park as rentals. I realized rentals were way too much work and notes seem much easier to sell.

Now I'm thinking, 'if five equals twenty five fairly easy, with 50 I could have 250k in debt. Wow!" I'm starting to take this more seriously!
I would like to also finance homes and/or doublewides and hopefully acquire some parks also.
Does anyone have thoughts about streamlining their business to go from five to fifty? 25k to 250 or even a million?
I'm thinking birddogs, Virtual assistants, more structured deals to save financing.
Also, would anyone be interested in a mobile home investing chat possibly once a month to share ideas? :D

I live several hours away from my rentals, so it's hard to arrange times to view the apartments. I have people drive by first and see if they like the area. Try to filter as much over the phone as possible.
If I hire someone to show the apartments, what is a good compensation? I am thinking $10 per hour and a possible bonus if someone rents.

Does anyone Sub out their Management of apartments to save paying 10%? A friend pays all bills himself and gets a 2% discount off management fees for doing this.

If its not a special order door, you may try to get pictures of the door and find the exact one to match, price it out and you might save $300 or more.

Could go to the local courthouse for records if they have always lived in the county. But, if they have lived in various states and counties, it might be better to go national.

I had this happen twice in the last 3 mos with gas stoves. I googled the thermocoupling and found it on Amazon for $25, but the other gas stove was too old so I bought a used stove for less than $100.

I'd prefer not to go to court, but I am prepared and will immediately if full rent is not paid.
Lady told me she had reported me to the news media?

Sept 09 signed a one year lease with renter and unemployed boyfriend. He was hanging out with another renter of mine nearby. This guy stole some checks from them, about $100. I got rid of the thief, but they have given me grief ever since and only gave me half of the $425 deposit, refused to pay the rest.
In Jan, she gives me a two month notice. Also in that month, her pipes froze and we had trouble restoring for five days. They left for a few days and we couldn't get inside, had trouble locating the problem, etc. The thermostat went out about a week ago, sent someone immediately to replace. They told him everything was OK, he left, but they couldn't get pilot light lit and never called back until late that evening to curse me out and threaten me with lawsuits, personally, etc.
I decided to give them an immediate 30 day notice in case they changed their mind about leaving Feb 30th and to make it clear I expected the full month's rent early. I also told them I would prefer they would leave immediately because of the threats, etc. I have even offered a partial refund if they leave the place peacefully, clean, etc.
I can't even speak with them without being cursed out. I tried texting and they called and left a vicious voicemail not to text, but call. Told them I would only communicate by email or through maintenance people.
At this stage, really just want to get them out, make sure I collect the full last month. I'm guessing they try to subtract the deposit and probably run up the utilities.
This guy has bragged a lot about his connection to biker groups, military background etc.
No, I don't (yet) carry a gun. Any experienced LLs with advice?

If you can find a 10k home for 2k that must be moved, you add an additional 3k for setup and you can make 5k.
I think movers are also great sources to find trailers. But definitely get a lot of references about the movers because a bad mover can cost you a lot of money by damaging a trailer or failing to move it in a timely manner.

Kyle, unless you come across some really good deals, I would recommend buying homes in parks. I just bought 2 from a park owner who got tired of trying to remodel the homes. I sold one of the homes as is for the same price as I purchased the 2. Renovations on the 1 trl will be 4k and I will try to sell 5k down 12,5 finance.
The cost to move is usually around ,1500 with setup, not including underpinning, electric service, building a porch, etc., so you may have an additional 2k to 3k to setup, definitely factor that into your costs and you can see why it is easier and more frugal to buy already setup.
Also, moving across state lines may require additional taxes and or fees.