All Forum Posts by: Sid Leibowitz

For some reason I can not see the difference with the mobility of a tiny home vs a motor home bus or trailer. This land would be the same as a motor home park which runs the gamut from accommodating trailers to multi million dollar motor homes that people live aboard. Entertainers have been living aboard and travel from state to state for years or sleep in a rest stop in total comfort and not like a gypsies. Motor homes are totally self contained with inverters and generators as well as large holding and fresh water tanks. Informed people who like this lifestyle usually go with motor homes are they are professionally built and conform with DOT rules and regulations. Tiny homes are relatively flimsy, not built with steel cage construction and not aerodynamic from what they show on TV as well as uninsulateed. There are already hundreds of existing motor home parks as well as "resorts" with amenities like swimming pools, gyms and landscaping with sewerage and fresh water supply that conforms with the local zoning laws. If you want to move you just disconnect and you are on the road again. Ask Willie. Why not just purchase land for a motor home park and rent slabs?

You can always say you received a better offer when someone offers you the 280K if you decide not to let it go. 

You can always make an offer without a bonafide pre-approval letter from a bank. however the seller may not take you too seriously if you can not show that you have the funds to proceed. There have been a couple of times where I was I had offers on SFR's and from what I considered to be bonafide bidders only to to find out three weeks later that the money vision of the buyer fell through. So, I was tied up for three weeks with a failure at the end and luckly had three more bidders in the wings waiting who jumped in. The second was playing the discounts game with me and inspector who said it needed work that was not necessary for the sale and I dismissed them as well before accepting a pre-qualified offer and the the deal went through However; not before six weeks were lost with unqualified time wasting bidders.

Try calling Sales Genie as well. They can filter by a variety of perimeter targets like zip codes. value of properties, net income, etc. They can also do mailings or provide labels or spread sheets. 

Pete. Depending on your area, Degree of difficulty in access and the quality of the materials being installed, it could be more of less. If you do not like the number then go shopping for carpet and select your doors, fan and moldings also. If you depend on a contractor then you will be paying retail for materials. This is too small of a project for a GC who hires subs and is a manager of subs. In my opinion. Try looking for a handyman with a good reputation and references. You can have the carpet installed by any carpet store and control the look and feel. A fan, closet, and paint, and moldings could be home depot items. 

There is nothing to be ashamed of for wanting ROI. I admit I am a bit selfish and greedy. LOL. In fact I have a great sense of humor and would like it to stay that way. I just have heard probably every excuse in the book for not paying rent and have seen too many evaporation's in the night. My happy days are buying low and selling high and fast!!

There are a variety of reasons one should not be a landlord and from experience this is just one more to add to the list. You can not see them all without experience. I am not against being a landlord. Its a job and someone has to do it. It is not me. I like profits on investing. I just do not see any profit in being a landlord. As I said the list against is over 100 against ROI unless you sell at a profit. The happiest day in a landlords life is the day they purchase and the day they sell it and hopefully at a profit. If that is the case, then why just flip? This is what I decided years ago. The real estate market is volatile like the stock market. When thing are good, then great. Things are rarely great for long. Anything can happen at any time and there is no insurance against all the landlord pitfalls. Flip that bad boy ASAP !! and take the profit before another pitfall comes down. This is just experience talking. My opinion.

How you define the value of the property when you do not know the rehab cost? Appears that you are not taking all the elements of profit into consideration if I am reading this correctly.

I had a similar situation some time back. I purchased a house and the tenant was there for 15 years and never had a raise in rent from the former owner. In addition, the heat was part of the deal. Of course they could not find another deal like that and we are in New York where the law favors the tenant. It took 6 months and we had to pay the moving costs and we threw in 2 months rent to sweeten the load. Laws vary from state to state so check with a "Real Estate" attorney and not just any attorney who is a generalist. Good Luck.

We really can not assume what he actually meant. It is a rhetorical question. You should have asked him at the time or after the seminar if it was questionable to you. If you ask 10 people, you will get 10 different answers. Perhaps they were looking for the audience participation. That may be part of their plan.