All Forum Posts by: Terri Mooney

It seems that everyone wants to own a piece of the amazing state of Florida. My questions are these:

1. If you were able to have boots on the ground in Florida to assess a property that you as the investor had found and this trusted individual would be present at the inspection, what would that be worth to you? 

2. If a trusted person were willing to help you, the investor, locate appropriate property and it moves to purchase based on agreed upon expectations, what would that be worth to you?

Please give me feedback by answering these questions for me and giving me your feedback.

Thank you in advance!!

Terri Mooney

Florida Investor

Thank you Erica. What great advice. The park I am in has an extensive background and credit check system they have to run on anyone who wants to come into the park(s) to rent or buy. They are willing to cover all those costs and let me handle the rentals. I have heard the park wants to get out of the rental business and sell me the homes very cheap but I worry about the holding costs. The family park within the community seems to be a better fit for me right now if I choose to go this way. That could be a long term family rental or snowbirds. The lot sits on a lake so it will be very desirable. I have been talking also with someone who has done vacation rentals in Orlando as well and is very familiar with those. We will meet again soon. Thank you again for reaching out to me with your expertise.

Thank you Parker and Jeffrey. I appreciate the input and I have the podcast on my list for my 2 hour commute tomorrow. I have fallen in love with podcasts and now I feel blessed to have my two hour commute. I can learn and drive. I think we have decided not to purchase within the park for snowbirds due to the holding costs and rents. Doing the research, however, we may consider investing in a mobile home park.

We have been in the industry for a little over a year but due to 3 surgeries, we were set back a bit. Now, however, we have a renewed interest in investing. We live in between Tampa and Orlando in Florida and we know the area very well. We will be attending REIA meetings in our area as well.

Thank you @Account Closed for reaching out and to clarify, I am looking to buy a couple of unit at this time in a park that will allow subleasing as long as the tenants are screened by the park. My husband and I purchased a manufactured home and are in the process of updating it. We were able to purchase it for not a lot of cash. There is a much newer home in the 'family' park that would bring a good return as per the BP calculator as a buy and hold. 

If this one works the way we think it will, we would like to invest in additional units.

I am considering investing in an active mobile home community in Central Florida where many snowbirds land each year. I would like to know if anyone has experience in this area. How do you handle the holding costs for the 6 to 9 months the rentals may be vacant? The park I am looking into has two 55 plus communities and a family community. They have a rigorous application process and they are willing to work with me as an investor to help get quality tenets to the park. Please let me know what advise you have for a newbie investor. 

Yes Benjamin, all you say is true. If I had great credit, I would not need hard money. I have cash for a down payment. I have deals on other properties as well. 

Thank you,

Terri

Hello, we are interested in multi-family in the Tampa/Brandon area. We would also be interested in HML. Are these units still open?

We are looking to purchase a multi-use commercial/residential building in an up and coming town. We will need to secure Hard/Private money for the purchase. We need suggestions for places who offer this type of loan in Central Florida. 

Thank you Nicole. I read every word and I will take them all to heart. I appreciate you being so detailed both with your successes and mistakes. 

We are looking to purchase a duplex/triplex/quadplex in Central Florida. Looking for a property that might need work or turnkey. We would like to live in one unit and rent the other units. Looking to move on the deal quickly. Owner finance would be a huge plus