All Forum Posts by: John Arendsen

Hi @Rachel H. would you mind sending me that trip insurance link as well? I'd like to see what they do in Texas. I just returned from Austin to visit a "Tiny House" which was really a "Park Model". I might be doing some Tiny House development in Texas if the local building jurisdictions buy into it. Thanks.

In California, and I assume some other states as well, according to the California Housing and Community Development Department (HCD) you are required to give a 90 day notice when you want to increase the rent.

Unfortunately cities/counties without rent control can get away with a rental increase every 90 days and they take full advantage of it depending on demographics and economics i.e. employment and whether or not the home is in the path of progress.

As @Daniel Roberts has so aptly inferred you should proceed with extreme caution. If indeed you've had employed tenants paying their rent's for that long it's because you probably have the best deal in town. 

Don't rock the boat. The most important thing there is other than snuggling up to your significant other at night is the confidence and comfort you have in knowing you've got your cost of living under control. Try not to mess with folks' comfort zones. 

It may not mean as much to you as it does them. But that's the difference between the worlds you both live it. The most successful attribute for a good landlord is compassion and empathy.

The very first thing you should do is hire an experienced MH hauler aka "Totter" and ask to see a copy of his PL&PD auto insurance as well as his liability insurance. If he isn't able to show you any verification I'd keep looking until you find one that can.

Hauling MH's aka "Wobbly Boxes" down the road at 60 to 70 MPH (as most totters do) is risky biz. I've represented many clients who've been involved with accident related damages caused by tire blowouts, traffic accidents, road damage, et.al.

Equally as important are the knock down and set up crews. Be it a single wide or a multi section MH there is always quite a bit of preparation preparing a floor for shipment and installing it on the other side.

Additionally, what a lot of newbies don't know is that MH's develop their own characteristics (personalities) after sitting and settling in one spot for a long time and do not always just sit on a new pad or fit (marry) naturally back together whence reset. There will usually be quite a bit of tweaking and wracking involved in order to get all the doors, floors, windows, etc to work as they once did or should on a new pad.

Most importantly, however, do know that once a MH has been moved from its original SITUS it will no longer qualify for a conventional loan in most cases. So if your plan is to buy it and move it onto a spot for yourself and you plan to rent it out or live in it yourself no problem. But if and when the time comes that you want to secure a long term conventional loan on it you'll be pretty much out of luck with most conventional lenders.

Lastly, if you're planning to put it into a rental MHC also realize that many if not most MHC's are reluctant to accepting MH's that are over 10 years old; especially if they are PRE HUD MH's built before June 15, 1976.

Hope it works out for you @Ken Rishel. Could be a benchmark for the Nation. But there are drawbacks both ways. You know that age ole adage. "The higher the rent the lower the value of the MH"

I've been in the Factory built housing industry as a California general & manufactured home contractor, manufactured home dealer & developer, California real estate broker, property manager and investor for the past 50 years in one capacity.

I a currently negotiating the exclusive distributorship on a line of Prefab Accessory Dwelling Units (ADU's) aka granny flats, Tiny Homes, etc. I have a daughter who recently moved to Austin a couple years ago with her husband and family due to his work.

Your timing is incredibly interesting as we are leaving for Austin (Steiner Ranch area)  tomorrow and will be there through Sunday. Exactly what is it you do and how might we meet to see if there's a way we might work together somehow. 

My daughter, Genelle Arendsen-Newell, and I have been discussing her getting involved in real estate somehow and focusing on the ADU segment if it's a fit for the Austin and surrounding area market. Where in the Austin area are you located and what exactly do you do? Perhaps there's a chance we would meet while we're there.

You can PM me or feel free to call me. I will PM you with my phone and email info. We should be arriving by 2:30 or so. Looking forward to meeting with you.

Contact @Ken Rishel on the BP MH platform. https://www.biggerpockets.com/users/RishelGroup

Your best bet is to contact MH Dealers and RE Brokers in the area you're interested in investing in. They would or should have listings for resident owned MH properties.

Been a long time since I received any notifications on this thread. So sorry for not having answered sooner @Francis A. I've often thought about a fast food franchise over the years. However, my good friend, in fact he's the one who owns the carwash biz that we're vested in, started Franchise Management Acceptance Corp (FMAC) in the 90's. He took it public for about 130 million. 

The idea was inspired by Taco Bell's need for fixture financing which was never heard of until FMAC. It  soon transcended into myriad franchise operations that were seeking that type of financing. You might say he created a very unique and timely niche. 

He's discouraged me from fast food only because it's such a hands on and labor intensive biz compared to a more service oriented non hands on type. The Express Carwash biz is once again a unique niche as it only requires 3 to five employees and is cash inserted into machine, credit or debit so employees don't have any personal contact with any cash. Essentially rip off proof. 

We invest primarily in buying hold and pay cash. At 71 I'm not as bold and adventurous as I once was so I no longer choose to leverage capital/equity @Francis A. That stated I'm about 10% vested in the stock market and about 20% cash. I will entertain a good REIT or two depending on the dynamics. But great answer and thanks for the contribution.

Well the proof of compounding is in the pudding and Warren Buffet, one of my idols, is the best ever compounder in the World to the tune of $87,000,000,000 net worth. His whole life was all about compounding @Steve Short