Hi biggerpockets I have an option on 30 acres of land in alabama that could be used for a great mobile home park or developement for new builds but I know nothing about this.

Latest development.

But thats at least 2,450 additional in revenue.

Consult with a local mortgage banker for underwriting guidelines for your situation ( ie, landlord experience, reserves, debt to income).Start to develop relationships with local bankers as well, who may be more flexible.

There is still a ton of land to develop on around that area whereas if you come down to Bethesda, Kensington, Chevy chase, closer to DC you will see this is much different.  

I think it looks like a good purchase as long as no differed maintenance pops up, such as a huge plumbing issue or anything else like that.Have you thought about how else can you get additional revenue, like laundry machines, wireless internet with a month access code, DVD rental, or vending machines in the common area?

The more stuff I read on here the more intelligent questions I'll develop!

I discussed my situation with two smaller banks, and the smallest bank was able to put an give me a proposal for a 5 year ARM at 4.70%.I have also developed a proposal and brought the deal to people I know had cash they were looking to invest.

SmithJCTWO Revenue LLC.

What has worked for me is to develop a sales pitch.