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25 January 2025 | 10 replies
Highly suggest coming out to some of the local chicago IN-PERSON meetups!
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29 January 2025 | 0 replies
One-person rental units are in the highest demand, and co-living directly appeals to this market.
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21 January 2025 | 1 reply
I recently came across 1 acre asking for 314k in a very good residential and growing location, so the current owner has added 4 manufactured homes with 4 electrical meters, 4 septic tanks and only 1 water meter for all 4 homes, the homes are sitting on partial slab and partial pier & beam, he also added 2 storage sheds approx. 380sqft with the intention to make them ADUs they are still only the shell so I would have to get those ready to live in, so currently the 4 manufactured homes are being rented and bringing in 2800k a month, 3 of the homes are needing some TLC which could increment rents and possibly get me at 3600k a month, also being a 1ac lot this still leaves about 12,000sqft of raw land where you could build etc.So that is on the good side now the things I did not like so much, the lay out is poorly executed to where it makes it looked crammed up and not professional but it could be fixed.Another is that in reality there is only 4 livable units so that qualifies under a conventional loan but since they're are 6 units on the property the banks are wanting to take it as a commercial so we would have to move out the 2 storage sheds out in order to close as conventional.Another concern, technically you are only allowed to have one manufactured house or single wide in your property according to what I know but I know it could change according to zoning which I will investigate, so my question is has all this been accounted for and if so how can I verify it so it wont leave me in a bind further down the road, I currently asked my agent for the appraisal of the property to see if that might verify.Any recommendations?
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29 January 2025 | 5 replies
Personally, I wouldn't offer SubTo or a Wrap, For reasons I've written about fairly extensively. https://www.biggerpockets.com/forums/70/topics/1227199-the-m...However, I would sell on "Lease Option" and that may work for you.
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22 January 2025 | 6 replies
@Antoine Black In general, yes, it goes off your personal credit.
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28 January 2025 | 3 replies
I personally would not invest in detroit as historically its not a appreciating market and for cash flow and I invest primarily for appreciation - I go off the location location location mantra.
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5 January 2025 | 2 replies
I plan to BRRRR this property to pay off the seller and get my money out and was wondering if you anyone has any suggestions on banks that can do refinances for mobile homes.
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28 January 2025 | 16 replies
I was thinking if I can talk to my neighbor about sharing the cost (I, the landlord, personally provide labor and my neighbor provide material (e.g. fence pickets)).
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13 January 2025 | 8 replies
Nomad also held the renter's deposit hostage even after I cleared the transfer with no damages to be charged.I had to remind Nomad there is a difference between “can” and should” , while you “can” hold a deposit longer it “should” only be done when there is a question about damages.My bank liked the guarantee, the disorganization inside Nomad and the horrible vendor management would cause me not to use them again.
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5 February 2025 | 29 replies
I think I was having a hard time seeing the value of turnkey properties because of my personality style with regards to investing and wanting to trade up quickly.