All Forum Posts by: Paul Sofia

You definitely need to think about selling some of your properties.  Real estate can make and or break you.  

I've been in manufactured housing for near 30 years now.  Number one, if you want this in city limits, zoning will probably flat out refuse it.  Secondly, I have never known there to be a manufactured duplex.  Modular, on the other hand, which I also deal with, you can do a mod and put it in the city limits but would cost as much or more as a stick built, more if you go with a two story.

You're much better off going with an existing duplex

Is this truly a new development that would need infrastructure to boot?  If that's the case, if it's a flipper with zero development experience, no way would I have any interest

It's definitely doable.  I've done quite a few.  In fact, just finished one that I have yet to put on the market.  Most of mine have been done just north of Charlotte in Rowan County along with some in Cabarrus

Have you tried contacting a local community bank?  If you want to develop it, I can refer you a lender that will lend on a completed subject to appraisal but you'll be limited if you just want it for the lot.

If you simply want the land as part of your property, you have more options including a HELOC which you can still use for development down the road. There are things you need to be aware of prior to going down that path, though

FYI, I'm also a modular dealer so you have no idea what I messaged her about.  Don't insinuate without facts.  Mind you, I pulled out of the lending space back in '20.

Curious to see if any landlords were able to retrieve their back rents through the "system"

Sending you a PM

Some transport companies have house kats that can get off the road and onto the site for an additional charge or you can hire a third party if the access from the road is limited.  

While the home needs to be paid for prior to delivery in many cases, the transport companies carry the insurance from the factory to the site.  Your builder's risk  insurance picks it up from there.  You've got to remember the home has already been through numerous inspections prior to delivery, so the time it takes to finish is minimal.  

I've got plenty of experience in both site built and mod construction.  Also, securing financing is no different than site built unless you're dealing with  someone that has no experience originating loans.  Mods are built better than most site built.  Manufactured homes are in a different classification than a modular.  You must know how to differentiate between the two.

It's sad to say, most realtors are clueless to this fact.  It should be a requirement to be educated in that space prior to licensure.

If you go with a modular, you'll not only save but comps should be that of a site built home.  Most RE agents are clueless to this fact.  I'm a dealer in NC and have been in the biz since the late 90's. I deal with manufactured, modular and site built.

 I have a friend out of PA that sets homes in the tri-state region and I can recommend some manufacturers up your way but need to know more particulars of what you're looking for, as in basic ranch, one story/two story, etc... I'd be more than happy to get on a call with you to discuss. You just need to know the process