The gentleman Chris Koerner seemed well educated on the topic (mobile home park investing) and he gave enough information and follow-up documents that you could take the information and run.

Pace also has shared his legal documents with the community which get updated.When I joined this lifetime membership I didn't realize how much additional value he was going to share.

This can encourage positive word-of-mouth and build goodwill if they’re ever a reference for your property.Ultimately, focus on fairness and clear documentation.

The document is pretty explicit with contingencies should anything go sideways along the way though so this helped a lot to keep everyone on task. we've built rapport at this point since we've been in constant communication from when we started but in the beginning, it was a lot of trust in the document.

. - Hence why all the DSR loans we've seen have a required document the borrower signs that states the lender will start foreclosure proceeedings if the borrower ever occupies the property.Please correct me if I'm wrong or clarify anything I missed.

A Mortgage Broker oftentimes has an agreement with each lender as to how to handle submitted loans.

If you are interested in becoming a vendor you can find the vendor paperwork package on our website and submit it to Jade@ - end is the same as my e-mail address below.

I give these threats no thought because 1) my actions are appropriate 2) i document well 3) they have yet to follow through with any of these lawsuits 4) typically their ignorance is apparent in what they are threatening to sue for. 

Here are some general guidelines: Lien Position1st Position LienEquityMinimum Down Payment of 20-25% (a 30% equity to sale price is preferred)Down Payment made in certified funds and not borrowedMaximum Funding of 70% ITV (Investment to Value)SeasoningMinimum of two monthly payments already made12 months or more preferredPayer CreditCredit Score of 650 or higherNo major derogatory trade lines (No 90-180+ days delinquent, foreclosure, repossession, bankruptcy, etc.)No decline in credit since purchase of businessTermsPrefer 60 months or lessMaximum of 72 monthsNo Balloon Payment preferredCash FlowBusiness has positive cash flow1.25 debt service coverage ratio preferred.DocumentationPersonal guarantee from a creditworthy individualStandard documents including Note, Security Agreement, and UCC-1 filing.Tax Returns on the business that substantiate profit and loss statements.OtherPayment history current and verifiablePayer Interview indicating buyer is satisfied with business and comfortable making paymentsMotivation for selling the note is not a result of a deteriorating businessConsideration of high risk businesses or geographic areasIn these situations, sometimes a partial is a better option. 

I apparently did not hit submit yesterday so here goes.Are you planning on buying in East Rochester then?