All Forum Posts by: Shelli Callan

In our area if it has a permanent foundation you can use a regular home loan.  If it not on a permanent foundation it is still a home loan but more of a down payment is required.  Just call your local bank and ask them what your options are.  

I was just invited to a 15 hour class on how to value a business, for Real Estate.  It cost $250.  Why would I do that?  I can get everything I need and more from Bigger Pockets Pro.  Just this weekend I found all the information I needed to value a mobile home park.  I was able to do it from my living room, on my time.  I never regret the money I spent on a Pro account.  I have gotten that much back and more from what I have received from it!  Don't wait, just do it!  

We did that once it was like a construction loan. The land the house, the septic and we'll all rolled into one loan.

I am looking at a small mobile home park (7 spots) it is on 1.5 acres and also has a 3 bedroom 2 bath stick built house.  The park calculates out to being worth 235,200. (lot rent x 12 x 7 x .70 divided by .1) But how to I calculate the stick built home.  If it was not attached to the park. I have calculate the home with a comparable market analysis and come up with a value of $190,00.  235,200 +$190,000 =$425,200.  The asking price is $400.000.  So it looks like a good deal? But is it?  Is there a different way I should be calculation the stick built home?

I found this post while researching how to value a small mobile home park.  How did it turn out?  The deal I am looking at is very similar.

Hey Grant, My kids are doing something similar in Kalispell, MT.  On a smaller scale they bought a 1.5 acre piece just on the edge of town. It has on old little house that is perfect for them to live in for now. The property is zoned R4 and is 4 separate tracts. They were able to pay cash for it and their long term goal is to make some money to develop it in the future. Being from MT I get the family transfer thing, we are blessed!

Good question Shaniqua Dupree, My husband and I funded the rehab, our goal was to get the property on the market asap.  The kids were not so motivated, they still wanted a life, silly kids!  There were a couple of things we felt were important to do that they didn't and they wanted to do somethings that we didn't think was necessary. Dad is a perfectionist and would never think of cutting a corner, our young people were not so picky.  Once it was on the market all was good, my daughter is the stager and extreme house cleaner so it always showed really well.  I don't remember what we made honestly.  I was the listing agent so I made money as the agent on the sale that was the best part for me.  

We did something like that with our daughter and son in laws home.  It worked, we all made money, but I don't know that either of us would do it again!  It was a bit stressful.  

Has anyone taken the course to a certified manufactured home appraiser?  Pros and Cons anyone?

http://www.flexmls.com/share/O1Wv/Nhn-Sawmill-Lane...

Looking for something different!!

This is a beautiful piece of property for $139,000.00

It is secluded yet less than 10 miles from town.

Shelli Callan

Performance Real Estate Inc.

6 Sunset Plaza, Suite A

Kalispell MT 59901

cell (406) 212-9081

email: [email protected]

MT license # RRE-RBS-REN-44753