All Forum Posts by: Steve C.

@Darius Kellar we just did this last year& had the broker sign a document stating they would allow all the buyer’s commission to be credited toward downpayment. They we charged ourselves a broker fee equal to the split they would have been given. Be sure both your broker & escrow company is fully aware & able to do this for you.

@Tom Cotter I'd give a listen to @Alexander Felice's podcast I think was # 306? He has an awesome plan using BRRRR method out of state, where he's basically rinsing & repeating with the same capital & adding a bit of monthly cash flow on each deal. I'd explain better, but he already did!

Thanks Brit F. , I think Dmitriy Fomichenko may want to chime in here. I haven't yet moved my IRA over to him, but still plan on doing so. I believe you can have a Solo 401K in addition to a Roth SD IRA. If I'm correct, why not do both if you're running your own business to be Solo 401k compliant? Anything you can Roth in my opinion is better than assuming you'll A. Be making less in retirement (means you did it wrong) and B. That taxes won't continue to go up when you retire. Some of this is speculation, but I'd prefer to speculate on the safe side.

I was just listening to one of the podcasts where an agent from Texas was taking about this with Brandon. It'll vary from state to state, in Las Vegas we don't pay for it but it's a negotiable point of a contract that may win or loose you a deal.

Why not do both? I have a Roth IRA I plan to move over to self directed for real estate related investments. I have a company 401 K I use only for the match, when I leave I'll roll that over into something I like better than stocks, but for now it's in the market.

Should also note, Lonnie Scruggs' book "Taking the Mystery out of Money" is half all about note investing philosophy, and half a great instruction manual on the HP-12C. It actually inspired me to buy and learn it

It depends on what you're using it for, I agree. For simple mortgage calculations I us "Mortgage Calculator For Realtors" app for my phone, for more in depth calculation on tax lien simple interest that can compound over multiple year redemption periods, or notes, I use a HP-12C sometimes combined with excel. It's an oldie but a very powerful machine for investing.

John, from what I understand, if the property is in Las Vegas city, you can get a permit for STR, if it's in Clark county and not LV proper, there is currently no legal way to do STR, once you're on their radar it would be hard to continue.

One thing my wife & I do is save a portion of each of our individual income.. Hers goes toward vacations. Mine goes entirely to investing. I get to enjoy the vacations with her now & she'll get to enjoy retirement with me later. Now that she's seeing results from my investing, I've convinced her to take vacations every other year, and I'll separately invest her other year's savings until the point it throws off enough to vacation every year. That way we'll eventually be retired & still enjoy traveling the world with our family. Best of luck brother, you'll find a way.

Hello Mobile Home BP-er's. Been on the site for a year or two now, but this is my first time posting in the Mobile Home portion. I currently have one SFR rental in Las Vegas, NV & was looking to acquire more rentals in this area, but due to a combination of rising values in LV and a furthering education as I make my way through most of the podcasts and many more books, Mobile Home investing has begun to look like a better option.

I'm a long ways off from having the capital for a MHP.. My current idea is to acquire a mobile home lot in Arizona (not in a park, just a single residential lot near many other privately owned lots for MH's), seller finance the MH if possible, and rent the lot.. kind of like a single-pad MHP.  I've been reading through Arizona revised statutes on landlord tenant laws, Mobile Home Park landlord tenant laws, and, Mobile Home dealer requirements.  

I can't seem to find any legislature relating to renting a single MH pad (MH LL-tenant law only applies to a parcel with 4 or more MH's on it) and I'm wondering if any of you have done anything like this, or may have any resources you can point me to that I can dive into.  I don't have the resources to buy a MHP proper yet, but figure this very junior type of a similar business arrangement may make sense.  

Also curious about SAFE act and Dodd-Frank as it may apply to the owner financing a MH, as well as the MH dealer requirement.  Perhaps I can hire local MH dealer to sell the home, a RMLO to do what they need to do to stay compliant with Dodd-Frank & SAFE Act and still finance the sale to grow my smaller investment? 

Any thoughts?  I'm aware I'll  loose the economies of scale a proper MHP would have, but would this idea be cost prohibitive, or potentially a good stepping stone to one day being able to graduate to a real MHP while gaining local industry knowledge & contacts? 

Thank you in advance for any experience you can share and directions you may be able to point me in to learn more. 

~Steve