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16 August 2024 | 19 replies
The other thing...all the loss models are being updated with these events making insurance risk higher which translates into a higher quoted cost...so no surprise to the industry folks.
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12 August 2024 | 6 replies
But per lot it will cost roughly the following:$1,500 Electrical poles, meter installation $2,000 water taps and connections$5,000 grading and land prep$8,000 septic installation (assuming a 1:1 ratio of homes to 1000 gallon septics)$5,000 down payment on each home ($700-750 / thereafter per unit)$21,500 total set up x 17 = $365,000Ongoing expenses after development would look something this for POH model: $12,750 a month in mobile home mortgages (17 x 750 for PITI on each unit) $1,900 a month in land mortgage PITI (house) $3,000 a month landscaping$2,000 a month in reserve emergency fund$2,200 management$21,850 a month total expenses $262,200/yearOngoing incomes after development would look something this for POH model:$27,000/month ($1500 x 18 {17 mobile homes plus house})$324,000/year324k-262,2k = 61,800 net pre-tax profit or $5,150/month.Opportunities to reduce start up expenses: Bulk deals with the government or contractors for doing all the work at once (electrical, water, land grading, septic) Trade free rent for someone to mow and landscape (turning a $3k event into a $650 event every month).
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19 August 2024 | 244 replies
They take historical data/analysis and run it through a model....
21 August 2024 | 182 replies
You should be figuring out how your business model will be impacted by any of the above potential disruptors.
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15 August 2024 | 57 replies
Maintenance is NOT 35% no matter what your model may say.
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14 August 2024 | 64 replies
I can appreciate your frustration Jerryll when you see people use/take/model/steal your design you worked hard to test and perfect.
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10 August 2024 | 2 replies
One more code to be given out to delivery people.
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14 August 2024 | 42 replies
Picking a servicer depends on what fits your business model and experience.
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12 August 2024 | 9 replies
Lots of people think that STR is just instant cashflow, but it is fundamentally a different business model.
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12 August 2024 | 1 reply
Replaced the roof, replaced the flooring with lvp, fresh paint, upgraded the fridge to a high end model.