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All Forum Posts by: Steven Wiltz

Steven Wiltz has started 6 posts and replied 79 times.

Post: What are the biggest fears of becoming a landlord?

Steven WiltzPosted
  • Landlord
  • Port Orchard, WA
  • Posts 80
  • Votes 39

I'd say the biggest fear is softening up; not sticking to your guns when you know the right thing to do, but due to apathy, avoidance of conflict, etc not doing it. 

A wise LL once said "timid LLs have skinny kids." Stuck with me. 

Post: What are the biggest fears of becoming a landlord?

Steven WiltzPosted
  • Landlord
  • Port Orchard, WA
  • Posts 80
  • Votes 39

hi Nancy - nice to see you here. Miss you @ mrll

Post: Thinking of Investing in Mobile home,any advice?

Steven WiltzPosted
  • Landlord
  • Port Orchard, WA
  • Posts 80
  • Votes 39

you can buy Deals on Wheels online cheap; great beginners guide on purchasing, basic repairs, also selling. Easy read... read it at least twice. Another resource is mobilehomerepair.com ; check out their downloadable (and cheap) repair manual. Also the free articles. 

*If* you decide to rent, you need to present yourself as the manager; because of your youth, unfortunately people won't take you seriously. Even as a buyer, you have a boss. You don't make the big decisions, the hard decisions; the boss does. You do the grunt work, the boss provides (and receives) all the money. 

Get that book, and follow it. Luck to you 

Post: Thinking of Investing in Mobile home,any advice?

Steven WiltzPosted
  • Landlord
  • Port Orchard, WA
  • Posts 80
  • Votes 39

hey Bill - you're mentoring Erich, aren't you? 

Ps I work in one park that allows rentals - money flowing to me like water! Did owner finance deals in there for years, they are sooo appreciative - about 18 mos ago they said they trusted me to rent them out, so now I've got 5 in there, and looking for more

Post: PODCAST QUESTIONS

Steven WiltzPosted
  • Landlord
  • Port Orchard, WA
  • Posts 80
  • Votes 39

android device, using the BP app, opening screen has the quadrants, under podcasts the menu has no category for MHs. Where are the MH podcasts 

Post: Thinking of Investing in Mobile home,any advice?

Steven WiltzPosted
  • Landlord
  • Port Orchard, WA
  • Posts 80
  • Votes 39

most parks do not allow rentals. Be sure of this park's stance before figuring rental into your strategy. 

You're working 2 angles here, neither of which you seem to know anything about: MH buy/sell, and rentals. Becoming a landlord to the existing residents is the most dangerous. 

There are too many unknown variables for an outsider to render a profitability opinion on this. Who owns it? Why selling so cheap? What is the arrangement between owner and occupant? What does the park allow regarding rentals/subleasing, and what is their attitude/willingness toward working with an investor? What is your experience with MH repairs? Etc etc. 

IMO, you can find a less complicated first deal, or jump in and learn from experience. Without more info, I am hesitant to direct you further. Good luck, and the worst thing you can do is nothing. Analysis paralysis will stop your business in its tracks. 

Post: Do you give your tenants gifts?

Steven WiltzPosted
  • Landlord
  • Port Orchard, WA
  • Posts 80
  • Votes 39

I give tenants a clean secure place to live. Period. Any other gifts are pushing the line on friendship. Humbug. 

Post: How much money do i need to buy some rental property?

Steven WiltzPosted
  • Landlord
  • Port Orchard, WA
  • Posts 80
  • Votes 39

your email appears invalid

Post: How much money do i need to buy some rental property?

Steven WiltzPosted
  • Landlord
  • Port Orchard, WA
  • Posts 80
  • Votes 39

Jay, I'll email you privately, so as not to hijack the thread

Post: Follow along - one buy-n-hold MH deal

Steven WiltzPosted
  • Landlord
  • Port Orchard, WA
  • Posts 80
  • Votes 39

Doors, toilet flange, baseboard trim,  and the cost of 5/8 for the whole house, plus don't know conditions of joists in the bad areas. And it is particle board, so a good layer over a crap layer is like bbq sauce on a turd. 

(but if you did that in a Crock pot, mmm)