All Forum Posts by: Nate Culkin

Does anyone have experience sourcing tenants through this program?  

The program brings in homeless families - I think mostly single  mothers - and pays for their rent while they get on their feet.  It goes from 100% to 0% of assistance over 12 months. 

I like the idea but I think a lot would depend on the specific tenant / the support the program provides the tenant in finding/keeping a job, etc. 

Hi Everyone,

I am looking at a deal (self-storage) in Midland, TX.  With the current state of the oil market, I was hoping to get some insight from people here that know this market and what happens when there is a significant decline in oil:

- Everyone says that oil always comes back, but with the uncertainty of COVID-19, is it possible for there to be a decline that is more severe, and longer, than the 2015-2017 oil crisis?

- If so, what does this decline mean for the real estate market/economy in Midland?  Some people will leave, but are we talking a leveling off in population? 3% decline? 10% decline?

- In past oil crises, have you seen significant vacancies?

Any insight would be much appreciated

I am looking at a mobile home park in rural Wisconsin, right now it is at around 50% occupation and priced accordingly.  The goal would be to buy it and raise its occupancy as a project.  What I'm wondering though, is how doable this is when the park is located in a town with a population of only 1,300?  I know that the guys from Mobile Home Park University mention that they only focus on parks in towns with much larger populations.

Has anyone had any experience buying a MHP in a town that small?  The park we are looking at is also right next to Lake Winnebago, so another thing I am wondering is if this place may be a viable option for someone that wants a cheap second home near a lake:  Has anyone ever had mobile home park tenants that own the place a second home?  

North and 51st. On the edge of the city by Wauwatosa

I am looking at a 32 unit right now in Milwaukee, the buildings (there are 3) and units are older, but the place could be spruced up a bit.  It is right on the edge of a neighborhood that is up and coming, median incomes are on the rise, and it seems that the demographics for the surrounding single family homes are beginning to change for the better.  However the apartment complex is in kind of a bubble - its surrounded by a school, police station, and social security office, and is right next to another lower-income apartment complex.  What we are trying to determine is if the surrounding neighborhood continues to improve, how much will this impact (i.e. rents, and the kind of tenant living there) the 32 unit we are looking at.

My question is: has anyone had experience with a lower income multi-family building that had its tenants improve over time as the surrounding neighborhood did as well?  Or do these types of complexes stay 'stuck' as the surrounding area changes?