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22 January 2025 | 8 replies
I recently sold one I had on Seabrook Island because the club/regime/HOA were frequently changing the rules and making it harder to operate smoothly.
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21 January 2025 | 1 reply
I recently came across 1 acre asking for 314k in a very good residential and growing location, so the current owner has added 4 manufactured homes with 4 electrical meters, 4 septic tanks and only 1 water meter for all 4 homes, the homes are sitting on partial slab and partial pier & beam, he also added 2 storage sheds approx. 380sqft with the intention to make them ADUs they are still only the shell so I would have to get those ready to live in, so currently the 4 manufactured homes are being rented and bringing in 2800k a month, 3 of the homes are needing some TLC which could increment rents and possibly get me at 3600k a month, also being a 1ac lot this still leaves about 12,000sqft of raw land where you could build etc.So that is on the good side now the things I did not like so much, the lay out is poorly executed to where it makes it looked crammed up and not professional but it could be fixed.Another is that in reality there is only 4 livable units so that qualifies under a conventional loan but since they're are 6 units on the property the banks are wanting to take it as a commercial so we would have to move out the 2 storage sheds out in order to close as conventional.Another concern, technically you are only allowed to have one manufactured house or single wide in your property according to what I know but I know it could change according to zoning which I will investigate, so my question is has all this been accounted for and if so how can I verify it so it wont leave me in a bind further down the road, I currently asked my agent for the appraisal of the property to see if that might verify.Any recommendations?
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23 January 2025 | 5 replies
You'll want to make sure that you use that new property long enough to establish that you had an investment intent and then changed that intent.
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6 February 2025 | 28 replies
Sellers are notorious for not communicating any changes in their unit counts to avoid paying taxes.
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16 January 2025 | 20 replies
I want to change that this year.
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22 January 2025 | 7 replies
It would be great if your rental could also work financially as a long-term rental if the STR market changes.
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1 February 2025 | 23 replies
If they're delinquent after only 2 months, they're either facing sudden life changes or you did not properly screen them to begin with.
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23 January 2025 | 8 replies
It won't change the payment unless you refinance.
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20 January 2025 | 3 replies
While some folks may not change the way they underwrite from one type of property to another, what specific property are you interested in, SF, 2-4 MF, or 5+ MF?
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22 January 2025 | 0 replies
As you grow your portfolio, they can help you secure additional funding, refinance existing loans, and adapt to changing market conditions.Financing doesn’t have to be a roadblock to your real estate dreams.