All Forum Posts by: Shelly Swanzy

@Chance Cooper Personally, I believe that anytime can be the right time to buy. Although, there are several things that make it the right time. 1. You've done your due diligence and checked it as good.
2. You've run your numbers and they are good. 3. You've got your exits A, B, and possibly C into place. 4. You funding is in place. If you've checked off these 4 things then I'd say its the right time.

@C Teague I invest in mobile homes on their own land, rehab them, and then rent them out (in our area $650-$850 per month). The Dodd/Frank laws from what I gather are more about selling them through owner finance/rent to buy. I have bought them through owner finance however the Dodd/Frank laws from my perception are to protect owner occupants and really do not affect the investor/buyer.

Peter,

Let them go -- they are trying to leave without causing you problems or legal fees. Personally I would not want to retain tenants who obviously do not want to be there--it's just asking for problems.

We rented to our daughter & her friend (there first place) it was horrible. They moved on and now two years later they are back with a new outlook on life. They now realize how expensive life is and that we were actually giving them a great deal and that there are rules everywhere. They are great tenants now. Our daughters friend, "She can move out if she wants but I'm never leaving again." However, they did teach me not to rent to first time tenants ---is that discrimination????

Have you thought about apartment buildings? You could still live in one and collect rent on the others. I searched Surpise AZ on realtor dot com and focused on multi family and there were quite a few within 20 miles. The prices seemed really low compared to here but I don't know anything about the different areas there. I think I even saw one that was a group of condos. I started out buying a 2 for 1 mobile home deal and live in one and rent out other and am getting ready to buy a 3 for 1 deal (SFR, DW mobile, and RV space). It's just about your preference. Heard AZ has crazy prices on older mobiles on their own land?

@Gabriela Gomez have you considered looking for an apartment building that is in an area of your preference? If you could get a good deal on one of the duplexes and the numbers made sense then you could rent out both sides instead of living in one. Just a few thoughts since it sounds like your interested in investing in multi-family.

@Shree R. I just did a search on realtor dot com and searched collin county tx and set search for multifamily only and there are 31 multi-family on the mls right now. There are some new ones but like Haddie said they are in Allen. Hope this helps you find what you are looking for.

Thanks it doesn't work for me for some reason--the names do not pop up anywhere. But thanks for trying to help me.

Not sure about new duplexes but you may be able to find some older ones or maybe search for multi-family. If you got a good enough deal you could rehab and get the look you want and still be able to live in one and rent out the rest.

@Sandy Spence Did she already sign a lease agreement and pay her deposit, etc...? Where have her and her son been living since you said they have been back a year? Did you verify residence in Florida? What about income verification? Have you talked to the husband?