All Forum Posts by: Troy Bevans

Welcome to BP @Carlos Marroquin! My recommendation for this would be, if you cannot visit the MH within a 20 minute drive, do not invest in it. Others may have a different view on this point, but being able to "hug" my RE investment is very important.

As far as the SAFE Act, I am currently renting my MH property and clearing around $300 per month off of it, which keeps me clear of the act. I too am new with the MH side and have been reviewing as much as possible concerning the laws, especially the SAFE Act. With that in mind, I decided to continue with the core competency of what my business currently does, which is rental properties. And all of my rental properties are within a 20 minute drive.

Best of luck to you on your new venture!!!!

@Scott Costello : I wish it integrated with Quickbooks online, but other than that, I am very happy with Zoho.

It seems that your potential clients do not want to pay 40$ for you to politely tell them "no way in heck are you living in my property". The application fee is for sure a way to weed out some iffy tenants, but the price could take out some major players as well. This is always a tough one to overcome, and one I too am trying to get right...or as right as right can get in my market.

In case anyone is interested, I wanted to share some of the different online organizations I utilize within my business. In no way am I advertising any of these programs and I do not have any affiliation with these organizations, just wanting to share this info in case somebody else can reap the benefits from them:

http://www.grasshopper.com - This is a wonderful voice mail system that projects you out like one of the big players. I use this for both my IT training company and real estate company. You can forward the calls to any phone you like and all voicemails come via email.

http://zoho.crm.com - This site is a Customer Relationship Management program that is free for up to 3 users. You can customize it to fit your company’s needs as well. I use this for both my IT training company and real estate company.

http://www.lawdepot.com - This site provides one of the best methods of customizable contracts in a wizard format. It is so easy to complete the transactions and I have used this for personal and business purposes.

http://www.vflyer.com - This organization hosts my website for both of my companies. I truly love how easy it is to update or change on the fly. There is so much more to them than I use, but the part I am using has been fantastic!!

http://www.rentpayment.com - It is so fantastic that I do not have to wait for the mail to arrive...well, kind of. I do wait for the "email" to arrive stating the rent payments have been processed. I have integrated all of my properties onto my website utilizing the RentPayment system. My tenants love it and so do I!

http://qbo.intuit.com - Typical QuickBooks program that I use for my books. Not as exciting as some of the others, but I do need to KNOW MY NUMBERS!!

http://www.buildium.com - I have only reviewed this program, but it is an "all-in-one" package for work orders, books, records, tracking and so forth. Seemed like a really cool system.

Hope you can get some benefit from something above. What do any of you use for your business needs?

Welcome aboard Peter! So much information...from so many wonderful people...equals a greater chance of success!! Well, this is the place for the "greater success"!

Thank you so very much for posting @John Fedro! I am going to absorb the knowledge you have shared with me and put it to good use.

I take possession of the MH tomorrow and will send over a link to some pictures and a video walk-through next week. I have everything I need to provide seller financing and believe that is the path I will choose.

I hope this is one of many successful MH transactions!! I will keep everyone posted on how I found the lead, made the offer, completed any repairs, and sold the MH with a smile : )

I agree @Jon Klaus. It also looks like the SAFE act will put a damper on my seller financing idea too...seems like a bummer. Still doing more research though.

Welcome aboard!!

I managed to purchase a 1982 3 bedroom / 1 bathroom (with jacuzzi tub) home, with all working appliances, w/d, furnace, updated water heater, very large shed, and some updated flooring for 2K. My initial intent was to do some simple painting and add some Allure Ultra flooring from Home Depot, nice white base molding, and then list it on the market as a Seller Financed home. Although, I have also been considering turning it into a rental property.

One of my concerns about renting the MH is that it is a depreciating asset, even though I paid a considerably low amount for a well taken care of MH. The MH park will allow me to rent out the property, which my rental rate would cover the lot rent expense, and I would hold the responsibility of paying that each month. Another concern is the city rental laws and how they would apply to the MH. And of course, a major concern is a focus on the tenants and issues that could stem from renting.

Out of a need to assist my brain with a good decision, would you rent or seller finance this MH? I have 5 single family homes I rent out now, but this is my first attempt at the MH market...I blame and thank John Fedro for being so amazingly AWESOME : )

Congrats on your second investment. Keep it up! I am with you on getting 10 rentals as my critical mass indicator.