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19 June 2019 | 1 reply
I have negotiated an off market Mobile Home Park in Arkansas.
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20 June 2019 | 2 replies
You're not selling real estate, you are selling a vehicle essentially so do it just like a used car dealer would.Full disclosure: I've only dealt with mobiles on land but this is how I believe it's done in a park.
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20 August 2019 | 98 replies
Don't be afraid to negotiate, don't be afraid to ask more than once when you get a No, just be polite about it.5th prop- duplex, old siding on the outside but the owner spent $51,000 on it 8 yrs ago and redid the entire place all the mechanicals, new roof, wiring, interiors - the important stuff.
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24 June 2019 | 14 replies
@Chris Allen, if you want to be thorough, make sure to account for the following expenses:1) Mortgage2) Mortgage insurance (PMI or MIP) or FHA Risk base3) Property Taxes4) City Taxes5) HOA (Home Owner’s Association) Dues and Fees and Assessments6) Insurance a) Property Hazard Insurance (0.3-0.45%) b) Flood Insurance c) Earthquake Insurance d) Umbrella Insurance7) Vacancy Rate (usually 8% - the equivalent to one month a year, or 5-6% if multifamily and/or if experienced, if not use 8%)8) Utilities (you’ll have these if your tenant is not covering them and/or during vacancy) a) Water § Sewer § Garbage b) Electricity c) Natural Gas d) Propane9) General Maintenance (usually 5%) a) Upkeep § Landscaping b) Snow removal c) Repairs d) New Appliances e) Make ready10) Capital Expenditures (usually 5%, higher is the property is old and obsolete, less if fully rehabbed and all mechanicals and roof are new)11) Property Management (8%, even if you self manage, your time still has value and there might be a time when you'll want to be completely hands off or you'll not be able to do it, vacation, retirement, etc.), including...
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21 June 2019 | 3 replies
Here's my question, we're looking for equity and or debt ideas and solutions - ie bridge loan products, loan solutions etc: Mobile Home Park Deal - Please chime in on ideas you might have for financing this deal.1st lien loan: $800K, needs to allow partial release's so we can sell off portions of the propertyPreferred Investor raise/equity : $375k - can this raise be a hard money or bridge loan instead?
20 June 2019 | 5 replies
Following up on what Dennis said, depending on the area you're in and the age of the house/mechanicals/roof, your maintenance/capex might be higher.
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23 June 2019 | 17 replies
Jenny, Logan is referring to a note on real property, I think you mentioned in our meeting that this is for a note on a mobile home?
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6 August 2019 | 3 replies
Thank you. 11 mobile homes, 1 house, 1 commercial space.
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6 August 2019 | 0 replies
Hi guys, I have a 3 year old mobile home that i owe around $34,000 on.
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6 August 2019 | 2 replies
Looking for the expert lawyer in Mobile AL to help me quiet title a few tax deed properties I have.