All Forum Posts by: Tyler Mellor

Thanks!

I’m working on a large acquisition in Morganton and looking for good contacts in the area- plumbers, electricians, handymen, roofers etc..

if anyone has good referrals in the area it would be greatly appreciated! 

Does anyone have experience with remote water monitoring for a community well system? We had a tenant updating a log daily to insure we’re don’t have any red flags or spike in usage to help detect any issues, but he’s taking a full time job and can no longer commit to the daily monitoring.

We have a Sensus flow meter that appears to have remote monitoring of options, but there’s not a lot of contacts with experience with the products and it appears to need a lot of other components in-order to access all of its functions.

We could use a whole home remote meter, but I wasn’t sure due to the total usage volume with a 26 home park if that would be an intelligent route or not.

Primary need is remote reading of the water usage.

Thanks for any insights you can provide!

That's a great insight. Thanks for sharing. 

I may try implementing M2M for one of our MHPs and see how it's received and the effect on the property performance.

Does anyone have a great lender they've worked with recently? PP would be around 2M and primarily POH and the age of the homes is currently unknown. Just did a deal with Vanderbilt and wasn't too impressed, so I would love any referrals. Thanks in advance!

The major missing piece here I would need to advise would be the market you're investing in. Lowering expenses and increasing revenues are always the game plan, but ultimately I'm offering on its current performance and local cap rates. The upside is why I'm offering, but I'm not using speculative revenues and expenses to predicate my offer price. If you're going direct to the seller I have found the more you can outline and explain objectively how you've arrived at your offer can usually make that number more palatable. Good luck!

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $2,300,000
Cash invested: $560,000

26 home mobile home park purchased with the intent to use a value add strategy