All Forum Posts by: Ryan Wanner

Update:

The south bend deal actually failed diligence.

The Minnesota deal was closed on with a 50/50 and liquidated this year for a great profit.

Hey Guys,

I hope everyone is doing well. I am currently in the process of looking for a good asset protection attorney and also a tax strategist/CPA. We are in the process of looking at properties in a couple different areas of the country so I'm hopeful to find someone/group that is able to assist me on a more global basis rather than state specific. Does anyone have any good recommendations for this situation? Thanks.

Ryan

@Taylor 

@Taylor Hall I would recommend putting an ad on Craigslist. I would also recommend putting a test ad on Craigslist advertising a 3/2 mobile home to see if there is demand in the area. If you run the ad and get 3 calls in a month then it's going to be tough to fill the homes you do bring in. 

I will send him over something right now. Thanks @John Arendsen!

Another thing you could do in regards to Craigslist is check out if there are any "We buy mobile home ads" in your area. If you can get in touch with those guys and incentivize them to bring a home or two in to your park. That way you'll at least be getting lot rent from the pads.  One thing to stay away from though is allowing them to bring too many homes onto the property. You don't want them to have too much power over the park.

Hey guys. Currently we have 2 mobile home parks under contract. I'm looking for an equity partnership to help complete the purchases or worst case scenario I'm looking to assign one of the contracts. Here are the details of the parks:

Park 1:

MSA: Hutchinson, MN

27 Lots
27 Occupied
15POH
200 Lot Rent (way under market)
City water/sewer - Park Pays

Purchase Price is $400,000

We are in the process of receiving an extension in the due diligence for this park.

Park 2:

MSA: South Bend, IN

28 Lots
24 Occupied
300 Lot Rent
City water/sewer - Park Pays

Purchase Price is $400,000
We are still waiting on diligence docs so the 35 day due diligence period has not started yet.

Please get in touch with me if interested in either or both of these properties.

Hey guys. Currently we have 2 mobile home parks under contract. I'm looking for an equity partnership to help complete the purchases or worst case scenario I'm looking to assign one of the contracts. Here are the details of the parks:

Park 1:

MSA: Hutchinson, MN

27 Lots
27 Occupied
15POH
200 Lot Rent (way under market)
City water/sewer - Park Pays

Purchase Price is $400,000

We are in the process of receiving an extension in the due diligence for this park.

Park 2:

MSA: South Bend, IN

28 Lots
24 Occupied
300 Lot Rent
City water/sewer - Park Pays

Purchase Price is $400,000
We are still waiting on diligence docs so the 35 day due diligence period has not started yet.

Please get in touch with me if interested in either or both of these properties.

Hey guys. Currently we have 2 mobile home parks under contract. I'm looking for an equity partnership to help complete the purchases or worst case scenario I'm looking to assign one of the contracts. Here are the details of the parks:

Park 1:

MSA: Hutchinson, MN

27 Lots
27 Occupied
15POH
200 Lot Rent (way under market)
City water/sewer - Park Pays

Purchase Price is $400,000

We are in the process of receiving an extension in the due diligence for this park.

Park 2:

MSA: South Bend, IN

28 Lots
24 Occupied
300 Lot Rent
City water/sewer - Park Pays

Purchase Price is $400,000
We are still waiting on diligence docs so the 35 day due diligence period has not started yet.

Please get in touch with me if interested in either or both of these properties.

Hey guys I am working with a gentleman right now on his property and he wants to partially carry some of the balance on the property. The issue however is that his lawyer is very adamantly against him taking a 2nd. So my question is what are some things that you guys do/have done to offer more safety to the seller in this situation? Any help would be hugely appreciated. Thanks!

Hey everyone thank you so much for the responses. You guys have been INCREDIBLY helpful and I am very grateful! I am waiting on the title company to respond to my letter and have not heard anything for a couple days. I am going to be following up soon and am very hopeful that no news is good news in this case (although I have some concerns). The deposit amount would not be worth litigating and the purchase agreement specifically defines that the most the seller can get in a law suit would be the earnest money deposit so hopefully that is another deterrent. I am hopeful to put this seller and experience in the past very soon. Thanks again everyone!