All Forum Posts by: Tim Y.

@Frank Rolfe, thank you so much for that education. It's very helpful.

Thanks Mark :-)

 Thanks Mark. Sounds like you know the park. I thought it was overpriced too, just wondering if I should pursue it at all. 

I've been educating myself in rental properties for over a year, but have yet to pull the plug. Have evaluated a number of deals but haven't found the "right" one yet. I've been looking at SFRs and multi's, but I found a mobile home park that I'm really interested in. I need help evaluating the opportunity.

• 15 mins from me
• 10 acres of very nice land (mountain views on all sides)
• rural area
• elderly couple wanting to retire
• 17 homes, 3 tenant-owned...all others rented
• county has approved this park with zoning to expand to 40 mobile homes if desired
• well on property, though park now uses public water
• private septic

Here are the limited financials I've seen so far for 2018:

• current rent receipts approx $4,200 month ($50,600 last year)
• Taxes $650
• Water $8,500
• Insurance $1,800
• Repairs/Maint $3,300
• asking price $325K 

Owners won't do any owner financing so I'd have to figure that out. But, on the surface, looks like a promising opportunity to me. I have driven through the park and, while the homes are not new, they are all well maintained, everything is mowed, and all yards/homes look nice.

Pics attached. 

Thoughts from you gurus???

I'm looking at properties from Norada and Real Wealth Networks. Trying also to look at Memphis Invest though they're a bit more challenging, although I've read great things about them. I'm not dialed into any one market yet but I value cash flow more than betting on growth. Many of the leaders of the turnkey companies are excited about Houston, Dallas, Tampa/Orlando and the growing southern markets. I find myself looking more closely at the Alabama and Ohio markets. I'm interested in Pittsburgh too as it's closer to me than Alabama, Florida, etc., but I haven't looked at much there. Have you found good turnkey people there?

 Frank, I agree with you. I'll definitely be pulling the trigger soon, though I expect I'll start with a turnkey. I'm looking closely now at turnkeys from three providers. I'll get in the game...just explaining what's been holding me back.

What's holding me back is it isn't clear to me that rentals are better than index funds. My index fund has averaged over 10% for the past few years. While I know there are lots of tax advantages to rentals (not to mention asset diversification and the use of leverage), it has just been easy for me to put money in index funds and set it/forget it.

I looked at a house this week and almost pulled the trigger...$70K purchase, only needs about $10K in paint, molding, tile...simple stuff. Will rent for $1,000. But couldn't make myself do it.

@Account Closed, I too have been looking at both Home Union and Roofstock. What problems are you seeing with them? I'm looking for a turnkey deal.

@Pat Lulewicz, that's the kind of model that feels right to me. So if you're buying SFRs for that model, I assume you're looking to spend no more than $70K or so all in...is that right? Or what do you look for?

Thanks for the sound advice.

If you want to know what to expect with gold, just study Martin Armstrong's analysis on his blog and site. I've been following his computer model's predictions for everything from real estate to precious metals to stock markets for over a decade. He's pretty much spot on.