All Forum Posts by: Bill J.

Thanks Derek....so far typical banks and even community banks not wanting to loan on MHP....deal size likely under 1MM unless something new arises

Thank you Gary. I have been doing a lot of research but did not know the Google trick you just shared!!

Thanks Ed....I appreciate your insights. 

I am in Georgia....anyone have a MHP lender that they recommend? 

Private lender even better but that could be difficult since they do not know me. 

I see a few MHP that are on the down side of their best years from a visibility standpoint. Trailers old and in decline, yet still rented for the most part....Price is decent or probably be negotiated to such.

My question is can a MHP come back to life with an infusion of newer but used trailer replacements and some investment in infrastructure or has the long years of decline permanently turned away future potential?

Abhi,

That is the most unique way anyone has ever answered me on anything!!!

Thank you for the info, I will check out your recommendation.

Bill

Thank you Wes....Good points to consider.

Thanks David and Stephen. 

Stephen....no I did not ask for a redacted one so I see your point unless the redaction begins to eliminate what I do need to see. I will test the reaction to that. 

Thanks Patrick.....I have the cash flow around 400 as well and I doubt the expenses will really be 50% in the early years so I should be in good shape, unless there is a surprise somewhere

How concerned would you be if a seller refuses to produce a schedule E upon request?

We are almost ready to sign a contract which will kick off a 14-21 day due diligence period (Still debating) but the seller is already saying no to a schedule E request.

The deal is a quad at 170K in good shape inside and out....Currently fully rented at 495 per unit. I have used the 50% rule for projecting expenses which is much higher than what they currently say but that is why I want the schedule E.

His refusal leads me to believe there is more expense he does not want me to see and that I have missed on my own so far or he is lying on taxes and does not want me to see that.

What are the scenarios that might be a legitimate reason for refusing? Don't say privacy because if you are buying & selling there has to be some compromise there.

Thanks...Bill