All Forum Posts by: Ryan Muska

Start with a Single-Family. This will help you get used to the lay of the land. If you ever want help discussing anything, I'd love to connect and provide some insight!

I should be able to accommodate your needs. Let's connect!

A trailer park recently came up for sale with a potential Cap Rate of 10% with room to go up. 9 mobile home units and a 2/1 SFR on the property. It is public water and sewer. There is one unit that needs to be renovated.

I have asked for the following information, but is there anything I should know about purchasing a trailer park before going into it? Never done a purchase like this before.

Here is the info I've asked for: Rent Roll, rent ledger, income report, expense report, lease agreements

What else should I be asking about?

Hi Kyle!

Congrats on operating a successful STR!

As far as getting money out, there are a tow main options I'd look in to:

- HELOC on the STR --> This will allow you to use the equity in your property as a sort of credit card

- Cash-out-Refi into DSCR --> this will allow you to take a lump sum of equity out of your property

With both of these situations, the tenants of the property are going to be paying down the mortgage/debt. However, it's going to depend on what works better for you.

I'd love to connect to discuss this more!

Hey Ethan! 

Do you currently own a home? 

Also, search the many websites available to you for FSBOs (For Sale By Owner). Zillow will have an option where you can search for that. Also, FaceBook marketplace is good and even craigslist. With anything being sold by the owner, be wary, lots of scams exist.

I'd love to connect to discuss how I may be able to help your situation!

Hi Ricardo! 

Congrats on having a multi-unit already! You won't need 20% down if you plan on living in this new property. 

I'd love to connect to further discuss how I may be able to help you!

Hi Javier! 

It's rarely advantageous to work with a large nation al bank like PNC, Wells Fargo, Chase, etc. Always look for a mortgage broker.

There's a couple of options that are coming into mind, but there is some more information I will need. I sent you a private message and would love to connect to get some more information!

I've done non-warrantable condos. It all depends on the reasoning behind it being non-warrantable. What is the reason you think it is?

Seller financing is a rare thing to come across. Don't get me wrong, there definitely is a possibility of finding a seller who is open to that. Your best bet is on FaceBook or Craigslist for that type of thing. But be wary of those sites, lots of scams.

That being said, have you spoken to a mortgage professional? There are tons of loan options and there may be one that you and your husband may actually qualify for. I'd love to connect to possibly provide some insight on your situation!

Advertise it on the MeetUp app. 

You can advertise it on here, but it doesn't always go too well. 

Also, I see a lot of NJ REI meetups being done at Panera Bread, look into doing it there but typically you have to inform the staff beforehand and you need to sometimes purchase something.