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21 January 2025 | 4 replies
They offer better economies of scale and tend to be more manageable as you grow your portfolio.
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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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18 February 2025 | 16 replies
Ken, You're changing the subject to something neither of us ever discussed.The only thing you claimed was that having no-debt on a SFR property makes no sense, because of your theory that the government is going to be massively raising taxes on property owners to "oppressive" levels.
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12 January 2025 | 23 replies
Also, think about creative financing, seller financing and sub to can also be options to grow your portfolio.
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1 February 2025 | 14 replies
Quote from @Jessie Dillon: one thing that you can do is have the seller transfer the deed to a living trust that they're the sole beneficiary of, and call the bank to give them a heads up that they're doing it for estate planning purposes. then, a month or more later, buy the property sub-to, and change the beneficiary of the trust. the bank can not see who owns a trust, and if they ever come back and question it, you can just swap the beneficiaries again, show the bank that the seller is still the owner, then swap it back again when they buzz off. this is one of many reasons it's so important to keep a good relationships with the seller if you're buying this way. you have to work together on some stuff.In summary: fraud.
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22 January 2025 | 12 replies
Do you think rents will keep growing (they will).
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23 January 2025 | 3 replies
If you want to grow aggressively then having the extra cash available to you today is more important.
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22 January 2025 | 12 replies
However, I don't find the long vacancy particularly enjoyable, and I'm hoping to gain some insight and grow from the experience.Has anyone else experienced this, and what did you do to avoid it?
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31 January 2025 | 8 replies
The PM company is starting to kick a little better lately but we had a rough 2024.Always remember that every positive and negative experience when taken well is an opportunity to grow as a person and to learn something valuable.
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28 January 2025 | 4 replies
An absolutely amazing forum that has an answer for any question you could ever ask... search the forum or ask.