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13 August 2024 | 6 replies
Under California foreclosure law, can a vendor place a mechanics lien on a home for work performed for the prior owner after the foreclosure sale and the recording (perfecting) of the deed?
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14 August 2024 | 5 replies
Hello everyone, I’m in the Tidewater area (South Eastern Virginia) Investing In Mobile Homes.
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16 August 2024 | 0 replies
Purchase price: $225,000 Cash invested: $55,000 Single-Family mobile home.
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17 August 2024 | 35 replies
We focus on small multifamily rentals, and mobile homes with land.
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18 August 2024 | 28 replies
All of your mechanical systems are interconnected, and you will want to know from your electrician if you will need to upgrade the service no matter which direction you go.
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20 August 2024 | 50 replies
I ask it because every liens drop in a buy of Tax sale (minus the municipal and mechanical liens... unti where I know) and I payed all of delinquent tax when I buyed it from the Alabama Estate.
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12 August 2024 | 6 replies
But per lot it will cost roughly the following:$1,500 Electrical poles, meter installation $2,000 water taps and connections$5,000 grading and land prep$8,000 septic installation (assuming a 1:1 ratio of homes to 1000 gallon septics)$5,000 down payment on each home ($700-750 / thereafter per unit)$21,500 total set up x 17 = $365,000Ongoing expenses after development would look something this for POH model: $12,750 a month in mobile home mortgages (17 x 750 for PITI on each unit) $1,900 a month in land mortgage PITI (house) $3,000 a month landscaping$2,000 a month in reserve emergency fund$2,200 management$21,850 a month total expenses $262,200/yearOngoing incomes after development would look something this for POH model:$27,000/month ($1500 x 18 {17 mobile homes plus house})$324,000/year324k-262,2k = 61,800 net pre-tax profit or $5,150/month.Opportunities to reduce start up expenses: Bulk deals with the government or contractors for doing all the work at once (electrical, water, land grading, septic) Trade free rent for someone to mow and landscape (turning a $3k event into a $650 event every month).
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15 August 2024 | 5 replies
Just like anything it comes down to doing your due diligence and inspecting the property before you buy it so you are aware of the age of the capex and all the mechanicals.
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15 August 2024 | 5 replies
@Christopher RankinThe CRM I use is called REI mobile, its specifically designed for real estate investing.
21 August 2024 | 182 replies
Mobile homes in Parks are affordable housing as well as MH on private cheap lots in certain parts of the country.. and then of course you have HUGE areas of the mid west and rust belt were you can buy all sorts of houses for 200k and under.. they already exist..