All Forum Posts by: Shaun Stephens

I'm considering buying a mobile home park. It is in a great location between two small cities, 1 five minutes away and 1 ten minutes away. It's a relatively newer development built around 2000. And all homes are modern (vinyl, shingle). There are 34 acres plotted for 150 spaces and raw land value is 250k. All electric is 200 amp services and water sewer are municipal. 
33 spaces are rented

we have a meeting once a month at OUC.  If you're on Facebook you can follow my page Chillicothe Investors and it will be posted there monthly.  Second Thursday of each month 7pm in room 134 of Bennett Hall. 

You should join our local REIA. Great place to get the knowledge you'll need!

September Meeting Notice:

There is currently not a presenter scheduled for this month so this would be a great opportunity for everyone who has been wanting to come to their first meeting in or around Chillicothe.

SCIOTO VALLEY REAL ESTATE INVESTORS ASSOCIATION

THURSDAY, September 8, 2016 7:00 P.M.

ROOM 134 BENNETT HALL

OHIO UNIVERSITY CHILLICOTHE CAMPUS

Everyone welcome!

See you Thursday.

Great Job!!

We are mid way thru selling a flip and trying to determine where to invest the money. Buy a few single family rentals, (we have about 20 currently) or use that cash as a down payment towards a multifamily? Also considering the @brandonturner BRRRRR strategy of sfr's first then refi to move into multifamily. Thoughts?

I'm considering purchasing a mobile home park that is developed, but nowhere near full.  There are about 30 trailers and 150 spaces. I've noticed most park owners I've met sell off all of the trailers and just collect the rent on the lots.  I know I'm going to have to buy more mobile homes to get it full and the park owns the majority of the ones in it currently. My question is why sell off the homes? I'm currently a single family investor and don't mind the maintenance for the additional rent. Are there tax implications I've not thought thru? What else am I missing? It will take a while to buy 120 more trailers, but what's it worth when full and I own them all. 

Ok I'm a landlord in southern Ohio and currently have 20 units mostly sfr. Currently flipping a house in a nice neighborhood down the street from another home I own. We have about 70k invested and the home will sell quickly around 120k and we'd have that 120k to invest in other sfr's or down payment on a larger multi.  My question though, this home would rent in the 1000-1100 range, should I rent it and refinance to get out 90k to reinvest and get the cash flow and easy rental of a basically new home? Or stick with the plan and sell and pay the capital gains?  Thoughts? 

I'm considering buying another primary residence and turning my current Residence into a rental unit.  If i have an llc already set up to for my rentals then why not buy this new property in said llc so i can write off all repairs and upgrades needed along the way? I can rent it from the llc at a rate close to the mortgage payment so it wouldn't generate losses and because there is very little margin between rent and payment it wouldn't cause any additional traces to be owed.  Anyone know a good reason not to do this? 

Thanks! 

Is it illegal to ask potential tenants if they can pass a drug test?