All Forum Posts by: Scott Mcnemar

@Keith Cuddeback

Get acquainted with a title company in your area, and they can help you get loan balances, chain of title ect. Markets across the country are very hot, unless it’s on off market deal or motivated seller, lowball offers are very tough in this environment,

@Matthew Masoud . Check him out online quickly, and get an indication of who your dealing with, also ask the seller about him.

Record everything when you are there.

Take a “big” friend to watch your back.

Take a gun if you legally can, “ crazy world!”

911 on speed dial

Assault is a crime

Proceed with caution, could be just an intoxicated loud mouth, on the other hand it could be dangerous .

Take “Extreme “ Care

@John Powell Our local market here is very hot right now even in dec, with thousands of California buyers moving to the area. Stick built existing homes, get multiple offers and sell in a week or faster if priced right.

Turn around times are 6mo+/- 30 days. I have two problems I’m working on to reduce that significantly, 1. developed lots at 75-100k are highly sought after, very competitive at that price point, several other players doing the same thing. 2. Getting MH’s from manufacture is taking 4-6 mo, this is my main objective right now, reducing delivery times from factory and going factory direct and reducing the delivery time to 60-90 days, and getting MH’s for less!.

We offer no concessions, market is hot right now, and will only get hotter this spring. I offer them a nice turnkey, new doublewide MH, on a very clean attractive .33ac lot, for right around 320k, they were selling for 250k several years ago. My projections for spring are we will list them at 330-340k. Again the Californian’s are driving this market. Los Angeles median home price is 700k, Sacramento C’s is 500k, and the SF bay median is 1million, these are our main feeder markets (75% of Californians are thinking of moving, population 40m). We offer affordable housing at an attractive price. I can’t build them fast enough, looking to streamline processes and scale to one a month in the future.Affordable housing is an extremely under served sector, if you can make the numbers work.

@John Powel

This is a niche that is a hidden goldmine, I do these in my area, except with a twist. Conservatively there are 10,000- 12000 mobile homes on private lots,(.33 -1.0 acre lots) within a 30 mile radius of me. About half of them have very old (20yrs or older) rundown MH’s on them, all with city sewer,power and water. Ideally I buy them for 100k +/- 10k, hall off old mobile and clean lot for 10k+/- and set up new MH for 80k, so I’m all in 190k-200k. I List and sell these as affordable housing for 320k, they sell in 60-90 days all year round.Try to net 100k per deal, after all expenses.

I’m working on getting MH’s factory direct, and I get an occasional lots for 75-80k, increasing my margins even more. We have to have them on 8/point foundations ($8000) or full perimeter foundations (15-$20,000)to get them financed, most already have 8/point foundation in place, or I have it put in.

The median home price in our area is $490k and climbing rapidly. This is “Affordable Housing”, Brand New Doublewide MH, 33acre lot for $320,000, and climbing rapidly .

Raw land and installing utilities also works with this model, I connect to city water, sewer, and power. A lot more work and less profit but still profitable.

I am an agent/PM/investor so I know the market exceptionally well. I’m looking for capital partners to scale up and get into MHP space (100 MHP’s within a 30 mile radius of me) Anyone interested please feel free to contact me. (Have pictures if interested)

point foundation or I put them in.

Reno, has everything, everyone has mentioned plus some, population growth,strong job growth, Tesla amazon, apple, google, switch, blockchain city , blackstone, plus hundreds of other companies have recently moved to the Tahoe Reno industrial center (largest industrial park in the world/ 120,000+ acres sold out) and the surrounding areas. Three or more massive industrial parks planned for area. No state income tax!

Reno is 45 min to Lake Tahoe and 10 or more ski resorts including, squaw valley, heavenly ski resort.

We are within an hours drive to over 100 mountain lakes.

3 hrs to mammoth mnt ,Yosemite, SF, and Silicon Valley. I ride (mnt bike) and hike in the mountains almost everyday, I can be in the mountains in 20 min . We also have the the great open spaces of the high desert (burning man.)

We are vibrant growing city ( population 500k).

Home prices are appreciating rapidly (median 490k)

So Reno is also experiencing an influx of people leaving California like all the other cities growing.

Reno has a lot of room to grow, lots of upside.

I am a realtor/PM/Invetsor here locally so I am obviously bias, let me know if I can be of any assistance, happy to help in anyway.

@Jingwen Dunford Are you getting mobile home parks with owner carry, and if so what terms are you getting, down pymnt,interest rate, length of loan, Cocr ect . Just average numbers would be great , thanks