All Forum Posts by: Jared K.

My leases state the utilities must remain turned on or its grounds for eviction. This way I know the pipes wont freeze and bust and the hvac will keep out any moisture therefore protecting my assets. 

@Mike S. The Bondo works, I have seen it done by some landlord friends of mine. They use it for all kinds of stuff.

I recently remodeled one of my triplex units. Right before I started the remodel I watched an episode of a remodel show where the girl used drywall mud on door trim that was 3/4 x 5 squared wood board door/window trim to level it at the seams. I done that on my woodwork and it works great. I even used mud on my paneling to fix bad spots. I also found that if you caulk the seams where the paneling meet it makes the place look uniform and seamless, looks great.

Keep us posted, love the knowledge flowing through on this post. I have always wanted to know more about parks b/c I may want to pick one up someday but currently I own multifamilies.

Depends on the book value of the mobiles, repairs needed, rents in your area, land value in your area, and how you plan to use them for income. If owner financing works good there, you can make enough spread and it fits your business model its worth pursuing.

If you feel prices are too high then they probably are. Maybe you could buy it subject 2?

I see a lot of parks here in Kentucky and know several people that own them. The numbers sound really good so I believe you got a good deal, especially owner financed!! As previously mentioned I would consider lease to own (not owner financed) so if the lease breaks...aka missed payments..you would still own it and resell it. I know people who have done very well with this one b/c in the end they own the lot and rent it out.

Your obviously doing something right b/c you already own quite a few properties and are a lawyer so your smart enough to write your contracts to protect your investment no matter how you do it. As long as people see there is a new owner and nice changes are taking place you should have no problem filling it up.

I get offered fairly nice free mobile homes if I will pay the moving costs and if I owned a place like yours I would advertise I were looking to buy mobile homes or looking for freebies. If it comes down to not being worth much just offer to take it for free and pay all the costs, it works! You can pick and choose deals and upgrade over the next several years.

Best of luck.

I hear about it all the time from investors and the bad part is it makes it harder for ethical people who do try hard to provide good deals to do business. I get asked if I will sell quit claim instead of warranty deed all the time and I say no. Sometimes they walk but oh well its my name at the end of the day and I get title insurance when I buy.

Depends on the flip and the area really. If it is a rising area with a lot of flip properties it may be worth replacing if you will get it back out of it. It also depends if people there use a buyers agent b/c they may point out how old it is. 

You stated you were over budget so me personally if it works just fix it. If its an older hvac unit outside you may build a decorative lattice guard around it to hide it, paint it too. Its cheap and  they wont notice it as easily. Just make sure its built so the hvac can be serviced if needed.

Hope this helps.

Age 26: I bought a triplex and then bought the duplex next to it 6mo later. I wrote my own 5yr business projection plan with supporting data to get the loans. I had always kept good credit on smaller loans and I had a good job in the field of my study. I have owned them now for over 10 years.

@Nathan Brooks Your very welcome! Oh I hear ya!! I learn something new almost every day and I love it. 

@Nathan Brooks That is very interesting and seems like I had heard some states have FSBO contracts but I forgot all about it. Good info, thanks.

I have a friend that is a sub 2 master, his whole company is built around it but they do other deals also nationwide. He helps other people get their deals done too basically for a small fee once it closes. Not marketing anyone on here at all just offering to make the connection to help you out if you need it.