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All Forum Posts by: Paul Sofia

Paul Sofia has started 3 posts and replied 321 times.

Post: Can a manufactured home really appreciate?

Paul SofiaPosted
  • Lender
  • Charlotte, NC
  • Posts 338
  • Votes 164

Just sent you a pm.

Post: Can a manufactured home really appreciate?

Paul SofiaPosted
  • Lender
  • Charlotte, NC
  • Posts 338
  • Votes 164

Actually, manufactured homes used to be called mobile homes and still are today by a lot of people.  Prior to that, they were called trailers.  You may be confused with modular versus mobile(manufactured)  Modulars are in a different class...they are built to different codes.

Post: Can a manufactured home really appreciate?

Paul SofiaPosted
  • Lender
  • Charlotte, NC
  • Posts 338
  • Votes 164

Contrary to what some are saying here, they absolutely can go up in value when deeded to real estate.  It becomes real property versus personal property.  The title must be surrendered.  It all depends on market conditions at that point.

Post: Modular lending for spec home

Paul SofiaPosted
  • Lender
  • Charlotte, NC
  • Posts 338
  • Votes 164

Experience level?  

Post: MHP Academy vs MHP University

Paul SofiaPosted
  • Lender
  • Charlotte, NC
  • Posts 338
  • Votes 164
Originally posted by @Stephanie McAnuff:
Originally posted by @Jami Lynn:

Can anyone tell me how either of those programs compare to John Fedro's course? His is the only one I've been aware of until I saw this thread.

Thanks!

 John Fedro's course focuses on the individual mobile home investing. The Academy and MH University focus on mobile home park investing.

Exactly.

Post: Mobile Home Financing

Paul SofiaPosted
  • Lender
  • Charlotte, NC
  • Posts 338
  • Votes 164

Tough to beat a local lender.  20% down is excellent.

Post: Question about lot size

Paul SofiaPosted
  • Lender
  • Charlotte, NC
  • Posts 338
  • Votes 164

...........and probably best to have a surveyor pin the footprint of the foundation as well.

Post: Is it ok to use laminate or vinyl flooring on a flip over $500K

Paul SofiaPosted
  • Lender
  • Charlotte, NC
  • Posts 338
  • Votes 164

Doing luxury vinyl on my new builds.  I also just put it in my personal home except for the baths and second floor.  It is great, especially for pet owners.

Post: Mobile Home Park Finacing

Paul SofiaPosted
  • Lender
  • Charlotte, NC
  • Posts 338
  • Votes 164


Originally posted by @Zoe Mercier:
Originally posted by @Paul Sofia:

I will be happy to take a look at it.   I will need some more details.  Sent PM.

Hi Paul, we have a similar situation and are looking for financing for what we think is a great deal on a small park. If you don't mind, could you PM me for more info too, please! Would love to know what kind of loan products we may be able to work with so we can make this happen. 

Thanks!

Sent

Post: Modular Home flip model

Paul SofiaPosted
  • Lender
  • Charlotte, NC
  • Posts 338
  • Votes 164

I have hit snags like any other construction project but that comes with territory.  Once you understand the process, it is pretty routine.   I sell them.