All Forum Posts by: Samuel Coronado

 The best time to buy is when rates are high and people are scared. 

@Adrian Smude wrote the best books on mobile homes since Lonnie Scruggs. 

I once had a conversation with a seller I cold called while trying to buy mobile home parks around Ft Bragg (now Ft Liberty), NC. There was an older gentleman who had bought a lot of land back in the 70s when inflation was double digits and no one wanted to buy anything. He said he was holding on to the land until Ft Bragg expanded to his doorstep and he could sell for millions. Ft Bragg is top 3 of the DOD in terms of just raw personnel and unfortunately BiggerPockets has a hand in making the rents go up artificially there, but the strategy is still sane. I have a plan to buy my entire block in the country. I have 20 acres now. I will be setting some stakes for the driveway of a 5 unit MHP soon and plan to use that to expand out to some other places thereafter on my own land. The cashflow from these units combined with the main house will more than be enough to cover all expenses in perpetuity for that land that's on a 3.4% interest rate over 30 years. Best of all, we get to provide actual affordable housing in a rural area where you can't find much below $1,000 right now. 

I could be your end buyer. How big are we talking here?

Is this deal already listed officially? Things are much simpler without an agent sometimes. I've had closing attorneys walk me through for a very low flat fee vs the outrageous 6% that seller agents take. 

It's a rough thing that all property investors are going through right now. In order to cover their losses in the market during a downturn, insurance companies rapidly increase their premiums. Some of this is also meant to catch up with the rising wages of tradespeople and the higher equity coverage that needed with the large boost everyone has had in the last couple of years. 

@Jeff Hines I invest in mobile home parks. I could do a lot with 150k if you want boots on the ground in Alabama. I am in Huntsville, voted #1 place to live by several publications such as Kiplinger's and USA Today.

2. The second way is using my usual network of local contractors. I give them enough business so they knock up to 30% off what they would do for a retail spec home buyer. We focus on affordable housing, so that's the reason we are trying to keep it below 200k. We could push higher, but young people are struggling to buy homes as it is. We're here to kind of make that happen on the smallest of scales. Some properties I don't try to make a lot off of because I've been very fortunate and it's a roundabout way of giving back. I just get back everything I put into it plus some overhead and a small contingency fund for the future. It's a beautiful thing. I enjoy doing it. :)