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All Forum Posts by: Tammy Helble

Tammy Helble has started 10 posts and replied 47 times.

Post: Looking for the program mentioned on a BP Podcast for cheap mobile homes...

Tammy Helble
Pro Member
Posted
  • Posts 47
  • Votes 11

There was a podcast within the last year or so where a gal mentioned being able to obtain mobile homes really cheap and often they were even brand new. Does anyone remember which episode that was or rememer what program or such she was mentioning? It wasn't pertinent at the time for me but now is so appreicate any feedback. Thanks!

Post: Looking for the program mentioned on a BP Podcast for cheap mobile homes...

Tammy Helble
Pro Member
Posted
  • Posts 47
  • Votes 11

There was a podcast within the last year or so where a gal mentioned being able to obtain mobile homes really cheap and often they were even brand new. Does anyone remember which episode that was or rememer what program or such she was mentioning? It wasn't pertinent at the time for me but now is so appreicate any feedback. Thanks!

Post: Looking for funding for an older existing Mobile Park park...

Tammy Helble
Pro Member
Posted
  • Posts 47
  • Votes 11
Quote from @Josh Bowser:

Hey Tammy - what is the NOI, PP, and location? Feel free to reach out to the contact info in my bio


the NOI is 98k right now however one quick fix adds 65k to that and easily adding in 9-10 RV parking spackes could add another 100k. It's an incredible oportunity. It's located in OR.

Post: Looking for funding for an older existing Mobile Park park...

Tammy Helble
Pro Member
Posted
  • Posts 47
  • Votes 11

I was told by the listing agent the seller would likely do seller financing for 100-400k. Thank you for this! I have reached out to a few lenders and a family member who also does real estate investing if he might know some private lenders however I’m not sure what will come about. Let me hit you up offline as well. Thanks!

Post: Question on fees when tenant hasn't paid their rent...

Tammy Helble
Pro Member
Posted
  • Posts 47
  • Votes 11
Quote from @David Dachtera:

@Tammy Helble,

My experience with landlord friends in Metro Chicago is that judges will award back rent, but not late fees.

I was renting from one of them for a while. His strategy is to offer a discount if rent is paid on time. For example, if the rent is $900, he gives a $100 discount for paying on time. So, the actual rent you pay (on-time) is $800. If he has to go after a tenant for non-payment, he is able to claim the full $900 rent without the judgement hassles.

My $0.02 ...


 Interesting, I've never heard of anyone working it that way. Texas they wouldn't award late fees and the judge told me I'd have to take her to small claims for that. Thanks!

Post: Question on fees when tenant hasn't paid their rent...

Tammy Helble
Pro Member
Posted
  • Posts 47
  • Votes 11
Quote from @Corby Goade:
Quote from @Tammy Helble:

Hi there,

One of my duplexes in Harker Heights (which is right next to Killeen) has not paid rent for months. Longer story there but learned a lot. Anyway, I had my court case this past Monday and of course won. My question is that since she hasn't paid rent for the 4 months can I charge her late fees for each month she was late or only one month's late charges? I'm in the midst of filing my small claims and wasn't finding the answer to my question. I would believe it would be for each month she's bene late but just not sure. Thanks in advance! 

Cheers, Tammy


 I'd add all of the late fees in, IMHO, they are due. However, depending on the judge you get, they could view that as predatory and not look on you as kindly. There's a risk/reward balance to everything. 

Best of luck!


 I'd asked the judge about the late fee and he expressed he couldn't rule on that however he awarded me the past rent owed, court fees at 8.25% until paid off. Granted I know that may not mean anything but it's a start. Thanks!

Post: Question on fees when tenant hasn't paid their rent...

Tammy Helble
Pro Member
Posted
  • Posts 47
  • Votes 11
Quote from @John Morgan:

Yep, add each month and tag on the late fees your lease states. The judge will award you all late and legal fees on top of rent outstanding. You won’t ever see a penny of it so it’s a moot point. lol. But put it all in there just in case this tenant ever wants to buy a home some day. They’ll have to pay you off.


 Awesome, thank you!!

Post: Question on fees when tenant hasn't paid their rent...

Tammy Helble
Pro Member
Posted
  • Posts 47
  • Votes 11
Quote from @Nathan Gesner:
Quote from @Tammy Helble:

Great point! Thanks!

When I file for eviction, I file for the judgment at the same time. That's when you should calculate all the costs incurred. You can always add charges like cleaning and repairs since the Tenant is still in the rental.

Yes, the late fee is charged each month.


Post: Question on fees when tenant hasn't paid their rent...

Tammy Helble
Pro Member
Posted
  • Posts 47
  • Votes 11

Thank you for that yes definately not what I wanted to hear. She is currently in the military but due to get out soon. Crazy though as I didn't realize you couldn't garnsh wages. I can however from another recommendation send it to collections. I'm learning a lot that's for sure! thanks agian!

Post: Looking for funding for an older existing Mobile Park park...

Tammy Helble
Pro Member
Posted
  • Posts 47
  • Votes 11
Quote from @Logan M.:

Private money or local credit unions.

What is your long-term strategy?


 I may look into'm making the calls and some private money as well if need be. One of the 4 local banks in the area of the property is a credit union so I'm exploring all options. Long term normally I would sit and hold however my day job we just had our ITR economics (with Brian Beaulieu has served as CEO and Chief Economist of ITR Economics™ since 1987)  update this past week and he was talking about selling around 2028-2030 as we'll be seeing a huge decline. He expressed hold onto your wealth and position to start rebuying around that time. Not what I'd orginally planned on when I purchased but will see.