All Forum Posts by: Shawn Ziegaus

Just looking to see if anyone has thought of using a MHP as an Airbnb “unique” stay?

Not sure if it would be worth it.

@John Powell lot rent is where I would like to see it go. Definitely don’t want to get out of this property. Just looking at ways of buying out other owner or move forward. Getting out of the property is something I don’t want to complete disregard as an option. Would prefer to try to bring up the value of the park, sell of the existing trailers

@Zeeshan Mallick my dad owned a percentage and in his passing I was the beneficiary of his shares

So a weird situation but kind of lost on what direction to take.

I recently became a partial owner of a trailer park. I got into it for close to nothing and I would like to try the brrrr strategy to try to obtain another park in a year or less. The problem lies in the other owner. He has a different mindset and ideas on the direction of the park. Much more of the build up slowly over 5 years and avoid debt. I on the opposite end of the spectrum, want to bring in investors or cash and bring up the properties value.

How should I proceed from here? We both own 50% so nothing can be done without the others agreement.

For some specifics on the park to give idea of what’s on the table. The park is 66 lots with 19 lots currently having trailers on it. We have 24 units each renting for an average of $500 a month. 2 of the units don’t collect rent due to the property manager and maintenance guy occupying those units in exchange for partial-payment. Our expenses are less than $2000 a month with the net income per month being closer to $5500.

Hope this wasn’t to hard to follow. That being said..Any input, recommendations, or ideas would be appreciated. Thank you.

Just getting into my first rental. However the flood insurance we are having to pay is a pretty hefty payment each month. I have been looking into petitioning for removal of the requirement just solely to be able to increase monthly cash flow. If anyone has any tips on how to go go through this process or the best way to increase your odds of being able to get out of it your input would be greatly appreciated.

*On a side note about this property. Every other house around it is not in the flood zone and the only piece of the lot that is in the flood zone is a small area in the corner of the front yard. The house is also 13 feet off the ground and is no real danger of flooding (based on the 10 year flood plain) .*

I am just starting to learn about wholesaling and really wanna get started creating my buyers list. I have a general idea of how to get started doing this. But I wanted to know what suggestions anyone else had.

I am a first time home buyer. I have been pre approved and am looking for potential homes to flip. However I am struggling trying to determine what the resale value of a home would be after renovations. I have checked everything I can on the home including property appraisers, recent home sale values, and tax records. I just want to make sure I am making the correct evaluation and am curious how you guys would determine a potential purchases ARV. Any input would be appreciated. Thank you.

@Melvin List

Awesome thank you so much :))

@Mike M.

I appreciate the response thank you so much.

Merry Christmas to you as well

Not sure if this is true or not. But, I’ve heard that when it comes to getting loans that at certain times of the year your odds for getting approved can go up. The proof I’ve heard for this argument is that around Christmas time banks are ready to get out there Christmas bonuses, so in turn they approve more loans around the end of the year to help reach their goals. Again I’m not sure if this is true or not just curious to see what you guys have to say about it.

Any input is really appreciated. Thank you.