All Forum Posts by: Nicholas Moffett

cant wait for the upsell ;) 

GREAT ANSWER !

I am wondering if theres anyone here who seriously buys big multi famuly deals, 500K and up purchase price.  If yes, please post how exactly you shop .....

1) cash flow analysis - cap rate  (whats your minimum) 
2) What % do you put down and How do you shop for financing? WHos the best financer or underwriter on average?
3)How do you shop for insurance, and what level of insurance do you carry? Liability? Property insurance, etc?
4) Assuming No debt, what cap rate do you want (minimum) on the property? 
5) Do you assume 50% of NOI as cost ? And what DSCR do you expect?

Alonzo, before oyu buy ANY mobile or parks read this book

This is probably the best real estate book out there, and its on mobiles.

This is based on buying/selling single units, not parks, but youll get  aplethora of knowledge on the parks, also a BP podcast on MH parks is available, google it 

WEALTH OF INFORMAITON

http://www.amazon.com/Mobile-Home-Wealth-Selling-R...

MOBILE HOMES VS HOUSES  with 200k in cash ???? 

I read ZALMAN VELVELS book on mobile homes and the book was simply eye opening into the world of mobile homes.  I HIGHLY recommend it even for the seasoned investor.

So I have done the math.... with 200k bucks I can buy 30%cash 70 Loan - 6 houses around 100k.... Can cash flow about 200/month after cost per unit (HOUSES) and pay them all off in 15 years.  

THE QUESTION !!!!

WITH 200K. Would it be smarter to buy a vacant lot for $100k ... and put 4-6 Mobiles on it at 20K a piece.... or would it be better to do single family.

Questions
-How much should you pay per unit for 2000+ 3/2 double wides
-How much would setup be per unit? 
-How much would it cost to run lines for power and plumbing seeing that the land is zoned for mobile homes.  

-What is the best source for buying used (high quality) mobiles?  Website ? 

My name is Nick Moffett - Age 27 - Tampa FL - USF graduate

SEEKING A CASH/LIQUID INVESTOR WITH 200-300K LIQUID CAPITAL 

YOUR CASH WILL BE 100% ASSET BACKED 

Structure  - Investor will receive 30% of profit until the full 200-300k is repaid, then your equity in the profit is diluted down to 15% in perpetuity of the business. 
Profit - for year 1 I expect to be 100k or more after all cost.  
Serious cash investors read information below, and message me 

Since age 18 I have been working in the bike business  buying and selling motorcycles and have done well over 400 deals. I have sold to the nations biggest dealers, 10 motorcycles at a time. At age 24 I got into real estate and I love my buy and hold properties and have done and been part of a few flips.  However, my mastery is the motorcycle business  and I have realized the capital I can leverage from an investor + my own would net far greater profits than any flip or buy and hold real estate deal in this over saturated market.

I have realized that right now, the FLorida market is insanely hot for real estate, and getting deals means bidding against everyone else and watching all the profits get sucked right off of the table.  For the dollar, much better returns are to be made in the motorcycle business, and with my 8 years of seld made experience I am looking for 1-2 investors with 200-300k dollars cash liquid capital to join me in bringing my vision to reality.

I have lost money in this business...  $500 on 2/400 deals.  Not too  bad ;)  

I have been dealing EXCLUSIVELY in the cash business making $500-1,500 per deal, however owning a shop, adding financing, and adding a service bay would net me an extra $1,000 per deal PROFIT + service for customers. 

I have the deep engrained knowledge and experience in this business and use my own cash daily to buy/sell bikes.  However, I want to blow up this year and grow at an exponential rate.  If you have an interest in letting your money work for you, 100% asset backed and be a part of something really big, call me.  SERIOUS CALLS ONLY

What I am talking about guys is WEBSITES

To buy Vanities, Fixtures,  etc.

For cabinets I have used EXMARK out of GA and they were great, about the same as the Home CheapO cabinets price point but 5x the quality.