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15 May 2021 | 10 replies
@Brian DavisAs a general rule you would want an LLC in the state where the property is located as it will need situs in that state to be able to act in court,As some state have very low outside liability protection on their LLC it is recommended to have these LLC owned by a holding LLC in a good asset protection state.
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7 May 2020 | 9 replies
Wholesaling land is different than wholesaling houses and make sure to do your DD; see below;- Make sure the land has a situs address which at times is a good indicator of building or not.- Ask seller and confirm with the county of local utilities, does it have water, power, can it perc?
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25 February 2017 | 22 replies
Also if you intend to seek conventional financing on a MH in a resident owned MHC condo conversion, subdivision or on a private lot or parcel be sure the home has never been moved from its original situs.
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25 February 2017 | 2 replies
Lastly if the MH was ever relocated from its original situs (location) it is equally as difficult to find financing.Hope this helps.
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14 February 2017 | 4 replies
A lot would depend on the year of the MH and if the current situs is the first and only one.
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1 March 2017 | 4 replies
So once from it's removed from its original situs the empty space would then have to become code compliant.
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13 February 2017 | 8 replies
First and foremost once you move a MH of any year it will be almost impossible to find a lender as most lenders we deal with will not finance any MH's once moved from its original situs.
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15 March 2017 | 8 replies
There will usually be quite a bit of tweaking and wracking involved in order to get all the doors, floors, windows, etc to work as they once did or should on a new pad.Most importantly, however, do know that once a MH has been moved from its original SITUS it will no longer qualify for a conventional loan in most cases.
26 April 2019 | 3 replies
Instead most list providers determine that based on the difference between the situs (property) address and the mailing address (where the tax bill is sent).
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16 October 2016 | 8 replies
Once they have been moved or relocated from their original situs most conventional lenders won't touch them for a long term 30 yr fixed loan.