All Forum Posts by: Xavier Randall

Hi BP Nation -

Maybe I'm just slow today. But I put up a post and it was removed because it was considered advertising and I was provided a link to post in the "marketplace". The problem is that the link I'm being told to use takes me back to the EXACT section I posted in the first time and it keeps getting removed. I need "barney style" instructions on how to post in marketplace please. Why they took away the tab that said "MARKETPLACE" is beyond me. Please help.

@Ariel K.   I just sent you a connection message.

I've done seller financing successfully a few times. You must know get a sense of what type of seller you're dealing with. If it's another savvy investor, a lot of times those guys understanding making extra money on interest and wouldn't hesitate at a short term solution. Make the rate attractive to them but not too much for you. Honor the deal or pay them off early and you'll have a referral for life! I've always done mine at 10% down because we you go to refi a lender will want to see you had some skin in the game. 

@Ned Carey...has provided with solid info. 1st thing I did was call the tax office and get explanations on the process and redemption periods. Also some tax offices work in conjunction with a Land Bank Authority. 

@Marilena Medina Bernal...did you find a lender that does these types of loans?

@Account Closed...what can you share about the Belmont area of Dayton?

@Frank Rolfe...you were exactly right. The realtor stated that they're all PO and that's the flat rent. Since the sellers own the land & homes they do not separate the rent amounts.

@Cody Lewis...thank you for the reference!

@Frank Rolfe....thank you, thank you! I didn't think of included homes rent. I'll circle back.

Hi BP -

I've been considering MHP's for a couple of years now. I came across a park in GA and the off the top numbers are as follows. Asking is $1,295,000. All city utilities. 41 pads. 35 occupied. Avg lot rent is $537. So I went with 35 x 537 x 60 = $1,127,700.00. I'm not done with complete market analysis but this is my neck of woods and I know this MHP has been around and stayed full for years. Is the formula I used providing close enough numbers to be appealing to put under contract? I'm sure after it's all said an done with due diligence there may be a chance to get it below asking. Thoughts? Feel free to pick this apart.