All Forum Posts by: Tony Stancato

I'm looking to rent a property for $2500 per month. My mortgage, insurance, taxes, and property management cost will be right around $1,950. This isn't factoring in any maintenance or vacancies. Property value is $330,000.  

Would you consider these numbers good, cutting it close, or not good? 

@Jake S. Definitely! I am pretty familiar with the area. My in-laws live in the city and we go up there often. Any tips on what you would look for in a more rural town to determine if the location is good? 

@Jake S. that's the other thing I would need to confirm. The property is about an hour away from me in a town of about 8,500 people. 

I found an interesting property. On Zillow it's listed as a 4 bed 2 bath with 2,000 square ft. Closer look the description is 2 bed 1 bath home with 2 bed 1 bath apartment. It's listed for $90k. It does need some work. The cheapest rent I could find in the area was $695 and that was for a 1 bed 1 bath. 

The price per square ft is significantly cheaper than the other properties in the area. Seems like there could be an opportunity to rent them out for $700 - $800 per month. 

What else should I look at to analyze this property? It seems like it could be a property where some value could be unlocked, whether keeping it as two living spaces or moving it to one. 

I'm putting together a mobile home park database. Who should I send the direct mail to? Do I find the LLC articles of formation and send it to the resident agent? Or if there is a general manager that files, do I send to the general manager?

Also, what is the key information I need to have in my database? I have address, company name, parcel number, acres, units, and year built. I need to add the person that I can send mail to directly. Anything else? 

Thank you in advance!

Is there a way to get more detailed info or can I only go off of this?

is there a way to get more detailed information or can I only go off this sheet?

Just curious how one with much more experience would go about determining whether this deal is a good deal or not.  There are some things that seem low such as repairs and vacancy allowance. 

Thank you both!

Hello all! I am looking for my first deal. I was wondering what is the best method to find a home that is below market value? Talking to realtors? Direct mailings? Any advice would be greatly appreciated.