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7 January 2025 | 12 replies
@Augusta Owens here's some copy & paste info you won't find in a book:)-----------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?
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13 January 2025 | 11 replies
@Matthew C. several thoughts:1) Appears you have a Class C or D property. -- Thus, you can expect to get Class C or D tenants, which have a 15-25% probability of defaulting on their lease payments.2) If your PMC is lowering FICO to 550, what are they doing to improve their screening in other areas?
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17 January 2025 | 12 replies
Buy Box is set, class neighborhood is set (C+/B-) and rules are set.It is working well and I don't have most of the drama the other hosts I talk to have.
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28 January 2025 | 10 replies
You need to target upper middle class, second or third time home buyers, to get the best profits in a spec.
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7 January 2025 | 3 replies
As you said, this allows you to track LLCs (locations) and properties (classes and/or customers).
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15 January 2025 | 6 replies
Unless you bought in D class, very low appreciation area, you should be sitting pretty.
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29 January 2025 | 68 replies
First class.
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15 January 2025 | 10 replies
When the rent rates stabilize, I suspect they'll bring it back.I wouldn't try it in a location like Portland, but 99% of the country would be fine with a policy like this as long as it is disclosed and applied equally.Can and should are two different things.You do you, but my advice still stands: be careful when dealing with Fair Housing protected classes.
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12 January 2025 | 12 replies
I have a vision of building and developing mobile home communities in upstate NY that are vertically integrated to allow future members to choose from a catalog of homes, have them installed, provide them with financing options, and make the process of selecting, buying, and living in the community very smooth.Since this is my first time doing this, I would love to chat with an experienced mobile home developer on the following items:Zoning - navigating the zoning process to allow the community to be allowedStart up costs - I am a finance person who would love to better understand start up costs - septic / electrical / water / pads / roads / etcOn Going Maint Costs - in building our business case, I want to build a conservative financial model to capture all re-occurring expenses - utilities, landscaping, capex, septic clean out, etc.I know this is a lot, but would greatly appreciate talking to someone who is an expert in this asset class!
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9 January 2025 | 13 replies
I also agree, that income is not a protected class.