All Forum Posts by: Account Closed

Hi guys,

I’ve found an interesting residence close to Daisy Dr, Granbury, TX. There are some doubts about that neighborhood and the town as a whole. Areavibes.com says that Granbury, TX is a good town for living, but Granbury property crime index is higher than Texas and National ones. At the same time Granbury violent crime index is lower than Texas and National indexes. Local forums have very little information about crime. I need your help to make a decision if that neighborhood is worth investing in. Please let me know if it is.

Thank you.

Thank you guys for all your tips and advices.

@Mindy Jensen , seller wants his lawyer becomes a escrow agent in our deal

Hi,

In October I sent out a letter to an owner of the MHP asking if he would be interested to sell his park. In November I received a reply that yes he is interested to sell, so after few back and forth, I sent out signed formal purchase offer based on standard template.

The seller told that his lawyer needs 30-45 days to check an agreement I sent him.

On dec 29, the seller’s lawyer sent me an agreement with changes, which he claimed will make it more "fair".

Those are the changes:

• $5000 refundable deposit turned into $10,000 non-refundable deposit;
• Seller made us responsible for the cost of ALTA Survey of the RE;
• Seller wants we provide him all surveys, reports…, at no expense, in the event we decide to not close the purchase;
• We wanted either buyer or seller may record a sale agreement. Seller wants none may record a deal;

My attorney says that $10,000 non refundable payment to the Seller should be a deal killer.

Seller virtually never gets money until closing, to make sure they can perform and deliver clean title.

So when we told that to the seller, before proceeding with other details, seller's lawyer told my attorney that seller will not compromise on the requirement for a $10,000 non refundable deposit.

I like this deal and I would really like to close it, but I am not sure how to proceed.

Does anybody here have experience with something like that?

Why would the seller require non refundable payment, especially if the lawyer is saying it is a deal killer for that type of deals?

Any information or assumptions would be appreciated.

Thank you.

Hi,

I am going to purchase a mobile home park in Brevard county, FL. There are 2 park-owned mobile homes without titles. The selling broker told me that it’s not a big issue because typically it takes 2 weeks and 200$ to get a title. Is that true? Is it really so easy to get a title for an old mobile home (>10years)?

The second uncertainty is a single family home, which was converted into a duplex without permission. How can I legitimize duplex? What is the procedure? How much it will cost?

Thank you for your time.

@ Andriy Boychuk I apologize about the severe delay in this comment reply.

total # of spaces - 18

occupancy - 100%

average rent of lot+home (all homes are park owned) - $514

Market lot rent - $345

City water, septic tank system

@Adrian Smudee and @Derek Robinson thank you very much for taking time to answer my questions. I have found lots of things to check.

@Gulliver R. thank you for the info. It helps me much.

Hi everyone,

I am new to MHP investing and I'm looking at MHP in Lakeland, FL to start investing in.

I need your help as I am still in the learning phase.

There is a list of my questions:

1. What should I check buying MHP, taking into account that 100% homes are park owned?

I know that all homes are built before 1976. They have been remodeled. Do these homes worth anything?

Is it important to know materials the pipes are made of?

What else should I know?

2. What kind of specialists should be hired? Is experienced MH inspector the only one person who can prevent me from making mistakes? Should I hire anyone else, e.g. RE agent?

3. Is the land shape important?

Thank you for any information.

Thanks for all the notes and advice, sincerely

Hi,

I need help to define a neighborhood in Mesa, AZ. I’ve found a few multifamily properties in a square: E Brown Rd-N Gilbert Rd- E Brodway Rd- N Staplay Dr. That’s a central part of the city. Areavibes.com says that this is a good neighborhood, but trulia.com defines that area as a neighborhood with a high crime rate. I have a hard time trying to understand if it’s safe for living or no. I want to buy investment property in a decent neighborhood. Please let me know if it is.

Thank you.

I thank you guys for taking time out to answer my question.