All Forum Posts by: Philip Dalhausser

@Kevin Tuttle I have to agree with the rest of the group. You can be conservatIve and take out 50% ltv. Take that money and buy another property!

@Russell Holmes thanks for sharing the article and I agree with your thoughts. Seems like the writer of the article is pretty angry with Orlando housing market. He wrote a couple of articles about the topic, one titled “Orlando Housing Market is Complete Horseshit Right Now.” I thought that was pretty funny.

@Account Closed Thanks for sharing your experiences.  I only have a few hairs left on the top of my head so I can't afford for them to turn grey!  

Thank you everyone for taking the time to post, it really helped me out with my decision.  Before I posted I was pretty certain that I was going to purchase this property but now I am going to walk away from the deal and feeling like I'm dodging a bullet.   

Carrie Cavins Thanks for the response!  I have listen to all MH podcasts, that's why I am in the position I am in now.  I started searching for MHPs after I listened to a couple of them.  Great questions, I have gone through them for the most part.  Thanks again!

 Charlie DeHart Thanks, your post helped a lot.  I do have financing in place but with 40% down so I am looking for a better option.  

Yes you're right, the park is on well water and septic.  I figured that is a good thing because there's no water/sewage bill but sounds like it can get pricey if there are issues.  Thanks again!  

I was hoping to get some of your guys' opinion on a deal I am working on.  I'm currently pursuing a small MHP with 12 spaces, 11 are occupied by tenant owned mobile homes.  The cashflow is great and I would love to add it to my portfolio (this would be my first MHP).  My reservation is that it's out in the sticks, the road that runs through the park isn't paved.  It's about 15 min away from a city with a population of 100k but there isn't much around the park.  Also the current owner swings by a couple times a month to pick up rent, the tenants pay in cash.  So I am having problems finding a property manager that would deal with this.  I read in someone's post where they referred to a rundown MHP as a "toilet," I am worried that's what I'm dealing with.  Thanks in advance!!    

I am pretty new to real estate investing, I own four sfrs. I have an opportunity to buy a triplex in a bad part of town for $50k cash. Fully occupied pulling in $2k a month, pm in place and the property is in decent shape. I'm a little nervous to buy the property because it's in a D neighborhood. I'm looking for a little guidance. Thanks!

Any investor friendly agents in Daytona Beach??

Thanks for sharing Tyler!

Thanks for the info Aaron.  I'll start asking lenders if that's what they are using.  

Thanks Brie!