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15 March 2024 | 20 replies
I think that rents will continue to slowly tick up until the supply of housing catches up to current housing demand.
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14 March 2024 | 2 replies
That trend stopped after the 70's but manufactured housing was a major contributor towards creating stable affordable housing.If we want to tackle our housing shortage we need to get serious about it.Here is a quick summary of the HUD changes: HUD Actions for Manufactured Homes and Communities:HUD announces a comprehensive set of actions to increase availability and affordability of manufactured homes.These actions are part of the Biden-Harris Administration's Housing Supply Action Plan.Manufactured housing is a key component in the strategy to boost housing supply and reduce costs.Preservation and Reinvestment Initiative for Community Enhancement (PRICE) Program:HUD launches the PRICE Program, a $225 million competitive grant opportunity.The program aims to preserve and revitalize manufactured housing and communities.Funding supports repairs, rehabilitation, replacement of units, infrastructure upgrades, and community resilience.Available to states, local jurisdictions, tribes, nonprofits, community development finance institutions, and other eligible entities.FHA Draft Policy for Manufactured Home Communities:FHA posts a draft policy to solicit public feedback.The policy aims to promote stability and affordability for individuals and families in existing manufactured home communities.Allows resident-owned cooperatives and mission-oriented borrowers to access FHA-insured financing for purchasing or refinancing.Updates to FHA's Title I Manufactured Home Loan Program:HUD announces updates to FHA's Title I Manufactured Home Loan Program.New methodologies for calculating loan limits to align with current market pricing.Expects the new loan limits to incentivize more lenders to participate and expand program usage by buyers of manufactured housing.Annual Recalculation of Title I Loan Program Limits:FHA will recalculate Title I loan limits annually to keep pace with home price changes over time.This ensures that the loan limits remain aligned with market conditions.Ginnie Mae's Title I Loan Securitization Program:Ginnie Mae takes steps to reinvigorate its Title I Loan Securitization program.Revisions to financial eligibility requirements for Title I Issuers to reduce barriers and increase lender participation.HUD's Ongoing Support for Manufactured Housing:These actions build on HUD's continuous efforts to support manufactured housing.Earlier actions include a proposed rule for the Community Development Block Grant (CDBG) program emphasizing the needs of manufactured housing communities.Recent Updates to CDBG Notice:HUD updated the CDBG in Support of Housing Activities notice to allow the use of funds for acquisition of manufactured housing units, services to homeowners, and investments in infrastructure and resilience for manufactured housing communities.
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14 March 2024 | 3 replies
You will need to supply 2-3 quotes from different General Contractor's or licensed builder for all work.Some things that can occur are builder/vendor issues with lack of inventory, broken material, employee "no shows", date of completed work extensions, bad work, additional costs not factored on blue prints or cost analysis, delayed permits.Keep in mind any delays or issues will slow down your clear to close/funding date.
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15 March 2024 | 21 replies
I’d be happy to supply additional resources on the economic impact of STR’s in my particular location if that’s of interest to you.
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15 March 2024 | 3 replies
If you and your team can provide these services, you become invaluable to investors.Alternatively, if an investor works with a residential realtor, they will have to supply all the services and resources that the realtor does not provide.Even the information an investor needs is not available from the only resource a realtor can provide, which is an MLS data sheet.
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14 March 2024 | 35 replies
Drip, Keurig, whatever...just have one. 8 - Cooking supplies...you will NEED at least a few pots and pans of various sizes.
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14 March 2024 | 24 replies
Investors are not the only ones that have taken notice of increased STR supply, the majority of the cities, counties or jurisdictions I service have recently implemented new or revised regulations for obtaining and operating a vacation rental throughout the Oregon Coast and area of coastal California.
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14 March 2024 | 9 replies
For RBR - I use electronic door locks on each bathroom, 2-3 people per bathroom, build in a cleaner per month or every 2 weeks to the contract, supply toiletries and basic condiments, ensure your fridge/kitchen space is big enough and make sure you have parking.
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14 March 2024 | 13 replies
It is a very difficult area to operate in because of limited service providers, home quality, and the increase in supply, and big drop in demand.
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14 March 2024 | 16 replies
And since this all feeds into the experience, please don't be the host that ruins the experience by asking the guests to provide all their own cleaning supplies, toilet paper, etc.