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Results (1,909)
Kevin Kelliher First deal - BRRRR with tear down and new build. Realtor needed?
15 August 2017 | 14 replies
@Kevin Kelliher I know of Dodson Home Movers down here in San Antonio.  
Patrick Alcoke Standing Out in a Crowded Market
18 August 2017 | 3 replies
One thing we offer to do is bring in a team to pack everything for them, pay for movers and have our team unpack them at their new residence.  
Dongyan Zhao looking for eviction attorney (concord,ma)
8 August 2017 | 0 replies
But more than 2 weeks past, she didn't move out, and  her story kept changing,  haven't found a place....mover didn't show up...Can any one recommend an attorney to help us evict her?
David Mathews Is This Mobile Home Park a Deal?
15 August 2017 | 11 replies
Generally banks don't want to value the homes because mobile homes are depreciating assets and they don't want to give valuation credit for something that will depreciate over time.If you look at this deal from a lot rent income analysis basis:$350 lot rent / mo x 2 x 12 = $8,400Minus:$2,000 in taxesLeaves you:$6,400 And that's before other expenses.The $200 above lot rent you earn from the mobile homes could likely get eaten up in cap ex and R&M over time.But let's say all of that was profit:$200 x 2 x 12 = $4,800If you combine the two figures:$11,200 (Net Operating Income - a very optimistic number)He's asking for $150,000$150,000 / $11,200 = 7.4% Cap rateThat's a 7.4 cap rate on a very optimistic NOI (net operating income).Normally with MHPs, you'd be looking to buy something that small at a 10cap or above off the NOI from lot rents only and then paying something extra for the homes, depending on their age and condition.Banks usually value at NOI off the lot rents divided by the cap rate times the Loan To Value ratio.NOI / Cap Rate = ValueValue x Loan to Value (ie. 75%) = Maximum amount of the loanGeneral expense factors for mobile home parks are usually somewhere between 30-40% of income.So the bank might look at the NOI as being closer to: $5,040 giving the property a cap rate of 3%If you had a 75% LTV meaning you borrowed $112,500 from the bank at 4.5% over 20 years, your annual debt service payment would be: $10,327 / year, meaning your current cashflow wouldn't cover the bank payments.Usually banks want to see a minimum Debt Service Coverage Ratio of 1.2x (You earn at least 20% more than the debt service payment).Let's say the bank were willing to financing this deal.. you'd have to get your annual debt service payment to $4,200.That means borrowing about $46,000.So you'd have to raise $104,000 or bring that to the table.Cashflow after debt service would be: $840 That's a cash on cash return of: less than 1%At that Cash on cash return, most likely your private lender would have to be an equity partner since there's not enough money to make debt payments to the lender. 2.
Eric S. Visiting soon - which areas should I check out for investment?
17 September 2017 | 27 replies
Most of the duplexes or better are listed differently in MLS so don't always show up in Realtor.com and they are quick movers in most cases. 
Ben C. Landscaping before or after new driveway?
17 September 2017 | 5 replies
If your in a dry season the other way around and save on the trips to mover the sprinklers around all day.
Ryan Bradley My plan once commissioned. Thoughts?
26 October 2017 | 6 replies
Having done the military move several times, I can tell you that not all spouses have the easiest time moving, getting the movers in and out, the dog, the cars, etc... 
Ryan Plesz How to start in a state with a budget crisis (CT) should i move?
4 October 2017 | 11 replies
I could start with 3 to 4 plex’s and mover to apartment or there may be some mobile home parks in the area.
Gustavo Munoz Castro Looking for a great property manager in Aberdeen WA
4 October 2017 | 2 replies
There are no great property managers in Aberdeen.
Makhwarand Khan Investor Meetings/Clubs in Massachusetts?
9 October 2017 | 4 replies
@Makhwarand Khan you may want to check out our meetings MassRealEstate dot net great Movers and Shakers last Friday!