All Forum Posts by: Ron Steckly

Hi David,

I mean that for demographic reasons the value of the property has gone way below replacement value. These properties used to be worth around $50K each and have depreciated in value considerably.

I didn't mean in the tax sense.

Ron

Hi Curt,

Here are the details. 8 homes for 200K that rent for 56K NOI.

918 E Bowman, 3 bed
105 N Kaley, 2 bed
1825 S Magnolia, 3 bed
3205 Revere Place, 3 bed
501 S Bendix, 2 bed
1640 S Carlisle, 2 bed
1625 S Chapin, 3 bed
1046 Diamond, 3 bed

I would offer $100 to 120K in cash.

But they are (mostly) rehabbed section 8 rentals. My concern would be exiting.

Ron

Hi,

So I ran across this portfolio, which is kind of interesting because I've been thinking of doing something similar. Buying several properties that are highly depreciated and renting them to Section 8 tenants. This guy is selling his portfolio:

http://www.loopnet.com/xNet/MainSite/Listing/Profile/Profile.aspx?LID=18328677&SRID=3730780398&StepID=101&LinkCode=20280

Obvious problems are making sure none of the properties are in high crime areas. Other problems are quality of tenants.

Do you think these kind of profits are realistic?

http://www.loopnet.com/xNet/MainSite/Listing/Profile/Profile.aspx?LID=18252177&SRID=3730594653&StepID=101

Property is $434K and has assumable loan with city for $104K.

What's interesting is the program that guarantees the rent.

What do people think of this deal? Any experience with this program?

Hi,

I live in CA, there aren't a lot of parks. I've been researching a number of options, including buying a mobile home park.

Is it realistic to own a mobile home park in another state?

Thanks,

Ron