All Forum Posts by: Rohit Jindal

Hi All: I am looking at a mobile home park for investment. I have never invested in them so I have a few questions. Do they act the same was as multifamily homes from an investment point of view? As in, I have to manage just the land, and provide water, sewer, and trash coverage, and everything else is of the tenant? Also, how would I evict a tenant for not paying on time for renting of a pad? Is it the same process as serving a notice in a multifamily home? Are there any other differences that I should be aware of from an ongoing cost, investment, or management point of view? Any feedback would be appreciated! Thanks.

Thanks @Steven Hamilton II

@Wayne Brooks I do not follow your explanation of "value". Would you provide an example to add a bit more insight?

Thanks!

Any thoughts anyone?

Hi All:

I want to validate the following:

If I use a land contract to buy a house, with Subject To existing financing, from the seller, and the seller is upside down, meaning he owes more than the current appraise value of the house, would you recommend financing the negative equity for the seller, for a low interest rate, to pay off in say a year? What other costs do you expect in this scenario for the seller or myself, the buyer, to pay?

Second, if the seller bought the same house, for example, for 100K, 10 years back, and than the market value went up to 200K, and he took a LOC for 70K, netting his current outstanding debt of 170K, if I utilize a land contract to purchase the house from him, will he still be subject to pay for capital gains on the 100K, if the current market value is 200K? I presume yes, but just validating with the experts!

Thanks in advance!