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All Forum Posts by: Samuel Coronado

Samuel Coronado has started 26 posts and replied 267 times.

Post: There's always a reason not to invest... Start today

Samuel Coronado
Posted
  • Investor
  • Huntsville, AL
  • Posts 268
  • Votes 139
Quote from @Dan Mcguire:

One reason not to invest, is not to lose money. I've invested locally in SFH. Recently decided, to invest in a mobile home park but sold at a loss. The park needed a lot of work and we worked hard to turn the property around. Still assessing if it was the property itself or the property class. I personally learned I enjoy local investing in residential properties. We have one other mobile home park and this property will determine my desire to buy more or sell. My SFH investment s will help me absorb my losses, so it's a good learning experience.


 Sell to me if you want to sell the next haha. I love that class of real estate. The easiest of all the thing I've been involved in. We turned around a couple of parks. Getting rid of pitbulls, breaking up illegal activity, evicting nonpaying tenants, renovating to the studs so we can get higher rents. It's all a part of the game. 

Post: My experience buying a turnkey cash flowing (kinda) turnkey rental outside Huntsville

Samuel Coronado
Posted
  • Investor
  • Huntsville, AL
  • Posts 268
  • Votes 139

This is a great story. I wish we could have had a talk before you pulled the trigger on this one. If you are looking for cashflow, I have a good lock on some of these places around Huntsville. I am a mainly cashflow person. 

Post: My experience buying a turnkey cash flowing (kinda) turnkey rental outside Huntsville

Samuel Coronado
Posted
  • Investor
  • Huntsville, AL
  • Posts 268
  • Votes 139
Quote from @Denise Evans:

Are the new builds for owner/occupants or build to rent?


 Either one. The builders in Huntsville don't mind. haha. 

Post: Interest in self storage syndications

Samuel Coronado
Posted
  • Investor
  • Huntsville, AL
  • Posts 268
  • Votes 139
Quote from @AJ Wong:

Hello! No syndication experience but there are about a dozen quality RV/Mobile home parks on market in Oregon, several with owner carry options that can be passiv-ish with management in place. Good luck! 


 Would love to see some of those listings.

Post: Feedback for Sunrise Capital Investors

Samuel Coronado
Posted
  • Investor
  • Huntsville, AL
  • Posts 268
  • Votes 139
Quote from @Roger D Jones:
Quote from @Fred Scott:

@Roger D Jones:  Any insights on why the North Carolina purchase in Fund IV makes you nervous?

They paid 3.7 million for this property at 29% occupancy.  Park has experienced a mass exodus over the last 20 years with no explanation why.  Their plan is to raise rents (on the poor remaining souls, improve infrastructure and exert some sweat equity.  How are they going to fill the park?  "Leverage infill opportunities"... Typical PE investor double speak.


 That's insane~

Post: Mobile home lot rent agreement

Samuel Coronado
Posted
  • Investor
  • Huntsville, AL
  • Posts 268
  • Votes 139

Hi, Nicholas. I used to have one for my property up in Athens, but I need to find it again. It was blessed off by a lawyer in AL, so should be relevant. I am a park investor and mobile home investor around the Huntsville area. Let's check in some time. Birmingham is an easy drive and I've seen some good deals down there, but I don't what's the best areas to avoid neighborhood by neighborhood. I would love some local insight. 

Post: Owensboro, KY Mobile Home Park

Samuel Coronado
Posted
  • Investor
  • Huntsville, AL
  • Posts 268
  • Votes 139

For the water metering- are you doing a sub meter like PUBS or are you putting in direct meters for every home? I looked at putting in meters direct to every home, but they would cost roughly $2,000 per meter if put as direct to tenant, which seems cost prohibitive. Our water bill is below 150/month and even below 100 some months when it's not winter and tenants aren't letting the faucets drip, but overall it's not a nuisance. 

Post: We Need Higher Density & Smaller Homes - Thoughts?

Samuel Coronado
Posted
  • Investor
  • Huntsville, AL
  • Posts 268
  • Votes 139

We are well on our way there. We are everyday approaching a European model where people own less and less of both land and buildings. 

Post: I'm looking to partner or get guidance

Samuel Coronado
Posted
  • Investor
  • Huntsville, AL
  • Posts 268
  • Votes 139
Quote from @Adrian Brown:
Quote from @Samuel Coronado:
Quote from @Adrian Brown:

I have 10 acres of raw rural land and looking to develop a low income mobile home park.

Locations> Fairmont N.C

If I posted under wrong category please guide me. Thanks


 Fairmount is very rural. How big are you looking to make it? 

I am doing something similar in Alabama. I can walk you through it. 

Umm how big I'm trying to make it? I never thought about it, but I don't mind starting out small and adding more as I go. I'm more of a whatever god allows kind of person. And I would be more than glad to get a walk through. Thanks 

Sometimes the government sets hard limits on the number per acre. Sometimes it's more on the side of how well the soil can absorb x amount of waste from a septic system. 
There is a where I am at currently, developers have to have 250 gallons of septic capability per bedroom, which would be like 1000 gallon tank for 2x 2bedrooms. Then you have the leach fields and such. I'd start by checking local restrictions and zoning for that specific plat of land and then getting your land perc tested and then see what the capacity is. In rural NC, I don't imagine it will be too stringent out there. 

Post: I'm looking to partner or get guidance

Samuel Coronado
Posted
  • Investor
  • Huntsville, AL
  • Posts 268
  • Votes 139
Quote from @Adrian Brown:

I have 10 acres of raw rural land and looking to develop a low income mobile home park.

Locations> Fairmont N.C

If I posted under wrong category please guide me. Thanks


 Fairmount is very rural. How big are you looking to make it? 

I am doing something similar in Alabama. I can walk you through it.