All Forum Posts by: Robert Medina

Hey Jacob, I might have some interest as well. Would certainly like some more information in terms of ARV, who is doing the rehab and how you came up with the cost factor, what are you paying for the property, how much you're bringing to the table, etc. My email address is [email protected] Thanks, RM

Hey Matt, if the park is in the SE portion of the states, you can reach out to Gil Walden at TruPoint bank. They know the asset class well, they deal with both lots and POHs (of course, they prefer fewer POHs). Good luck! 

I'm underwriting a small MHP that is mainly lot renters but a handful of POHs. Looking to connect with a PM that has other parks in the area. If you have had success with any in the area, I would certainly appreciate the recommendation. Thank you, Robert 

Hey Cedric, Do you have P&Ls, addresses and rent rolls available? Thank you, RM

[email protected]

Hi Alison, a lot of variables; LOCATION, potential economic vacancy, deferred maintenance for both homes and park, who will operate the day to day, municipal utilities or private, zoning regulations, etc?

Hi Andrew, I have a bunch of experience assessing MHPs. I'm in Asheville, if you want to reach out, i can give you a bunch of pointers that may help. PM me if you're interested and I can try to assist. Good luck, RM

Hey Andrew, please reach out any time. My emai address is [email protected] Also, its ALWAYS good to know a decent contractor! would love to know your partner's name and contact info. Thanks!

Hey Andrew, great to hear about your service. I was from CA, recently moved out to Asheville. If you ever get out to the Asheville CREIA meetings, those are a great source for networking and often times they will have investors visiting the group as well. 

On a separate note, if you ever have any Mobile Home Parks that come on the market, feel free to reach out. Thanks and take care, RM

Hi Michael, I'm in Western Northern Carolina and in acquisition mode. If you have decent MF deals in the SE, in decent MSA's, please feel free to reach out. Thank you, RM

We have property in South Florida where I lived for the first 20+ years of my life (on South Beach). We spent months looking for a bank to leverage, it was incredibly difficult and our interest rates ended up being 2 points above market due to flood risk. Ultimately, that was still reasonable based on the cash flow. The insurance premiums have gone up exponentially due to all the floods that we've had outside of any hurricanes or tropical storms. The property is now under water financially, basically, we lose money on this every month and most investors in this area won't touch it! We're feeling the very real effects of the changes that are occurring whether or not we accept climate change, its just happening and its costing us real money in an area where this NEVER happened. Now, it occurs as a regular part of life and its NOT sustainable.

https://www.sun-sentinel.com/news/weather/fl-ne-how-south-florida-deals-with-king-tides-20191025-fizzzn2hy5ag5jkc2ropid7xbm-story.html

Additionally, we have a small plex in Napa, CA and the cost of insurance (due to HUGE fires that are now part of the yearly drama!) there has more than doubled during the past three years, luckily, this property still makes money. Spent more than 13 years in CA and have seen this fire issue grow exponentially up and down the coastal states. At this point, we won't touch ANYTHING near the coast or near flood zones. Getting burned and underwater by these issues! You may not believe its happening until you have to pay for it!