All Forum Posts by: Wes Blaney

@Rachel H. great call. One of the easiest and (relatively) reliable local sources at your disposal.

I like the shameless self call out Tony.  The energy many people have here throughout BP is infectious!  With so many people here on BP kicking *** and taking names, it almost makes me wonder, what the heck do the 'other' people do all day?  Spoiler alert: they are content living their own groundhog day 

Congrats Michael! Its great to hear with the right team working together you can actually achieve what you set out to do.  Awesome story! 

Hi Phillip, 

From the sounds of it, you and I are seeking very similar information and appear to have the same end goal: provide for our families while being able to provide affordable, quality housing & communities. 

I have actually heard of John, not from the BP podcast, but others; although I am downloading BP 075 now. 

Partnering is how I foresee scaling from a side hustle to a full-time endeavor faster and more powerfully then one can do on their own.  I would definitely be interested in learning more about your background and where you potentially see the future going.  I will send you a PM and we can discuss in further detail, and hopefully meet soon. 

Thanks for reaching out! Its great to meet others in the area. 

Cheers. 

Many thanks, Tim.  I send you a DM and look forward to meeting both you and your colleague!

Hi all,

I am looking to learn more about mobile home investments first hand to get a more robust understanding of some of the intricacies of the operations.  I've got the time and hustle and would like to find a partner on a small(er) project.

I am a civil engineer by school and worked as a project manager for a civil contracting firm before now working for a commercial general contractor, managing projects typically between $10-30 M. I say this to simply show some of my work background which is directly related to the backbone of MHP's.

Over the past year, I have been reading books, articles, and forums, listening to podcasts, and gathering as much information as I feel I can on the topic and want to put this all to work. I am very interested in learning more about how these parks are bought, managed, and (most importantly) how they are valued. 

If you live in the Seattle (or Washington, or Oregon) area, and are interested in a smart energetic and never-say-quit partner, I would very much appreciate the opportunity to grab a coffee/beer with you to see if it would be a good fit. 

Thanks so much for reading, and I look forward to taking control of the future.

Thankyou @Andrew Postell & @Account Closed I thought I was overcomplicating a 'simple' transaction, but because I have not walked through one to date, wanted to be sure of the process. Cheers!

I understand the process in finding hard money lenders and leveraging this strategy when the right time comes up, however, what I do not clearly understand is how to transfer away from hard money into a (let's say) traditional loan, and the next logical steps in the process.

Let's say you negotiate your deal, $'s, points, and terms, with a hard money lender.  This property is then actually purchased in your name with their money, and the work is completed on the property sooner than initially budgeted (you pat yourself on the back, but still march on).  Then when you are ready to transfer out of the hard money and into a traditional loan, do you contact your banker to set up a new loan?  

Obviously, you'll want the 'cash' to pay off the hard money, but I guess I am confused how this is transferred.  Because the house was first purchased in your name, are you now doing a simple loan transfer (Hard $ -to- Bank) and taking out a new loan for the market price of the property?  Thanks for the insight & clarifying this.

Well done Kevin! Sounds like you did your necessary homework before acquiring the property and have a great idea of what is needed.  The only way to finally get it underway is to get dirty. Nicely done!

Fantastic find David! It is smart to always be conservative with your numbers throughout the process, and you certainly not only found a gem, you worked your way to a very rewarding property.  Congrats!