Sullivan recommends the cooperative ownership model as the ideal structure for MHPs what is stopping you from forming either a high or low equity co-op and purchasing the park from SCI?

I joined this forum to connect with others, learn from those who’ve been in my shoes, and maybe even find people to partner with in the future.If you’ve got any tips, especially around raising capital or structuring your first deal, I’d love to hear them!

If so, the 1007 will provide a rental income estimate that could be used to structure the loan as a long-term rental rather than a short-term rental.

I jumped into real estate doing the BRRRR method, understanding that holding property will allow me to build generational wealth, but then learning that landlord income is not the best way to feed your family.

The ideal property would meet the above criteria, AND would have a large yard, or ideally, a detached garage that was a suitable candidate for an ADU construction project (CO now allows ADU construction on most properties), and/or a primary structure that had lots of value-add potential. 

If you have the time to devote to it, direct to seller methods can be very effective, but will take ultra-patience and intensive work. 

Positives are proximity, low property taxes, no income taxes, no weather events, very low maintenance stucco/tile structures, “young” properties (5-20 years old) 

It’s a good idea to work with a qualified intermediary and a tax advisor to ensure everything is structured properly and you’re clear on any tax implications.

We sign leases with nonprofit and for profit companies who provide structure and services to people in recovery.

Hello @Yvonne Wang,The scope of work should include the following:- Basic info: Property address, client name, contractor's contact info, address, license#'s, signed general/operating agreement b/w contractor and client- Specification of repairs: Repair item, Quantity of items needed, total & per unit cost of items, taxes (if applicable), Completion hours, title of the person responsible for the repair item, written summary describing the work- Add'l info: Schedule of repairs, additional payment schedule details i.e. disbursement schedule, method of disbursement, deposits, holdback amounts, etc.The screenshot below highlights a couple of repair items.