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4 July 2015 | 7 replies
I was wondering if I could get some feedback from seasoned MHP investors on the following potential deal:21 Owner Occupied Lots @ $225-$235 5 Rentals Units @ $295-$365 22 Vacant Lots 1 Stick Built Home Sold on Contract @ $595Average Monthly Income: ~$7,005 which equates to ~$260 per lotGross Income Income: $84,060 Expenses: Landscaping / Maintenance: $8,350 (9.93%) Insurance (liability only): $250 (0.30%) Real Estate Taxes: $8,400 (9.99%) Utilities: $2,700 (3.21%) Administration: $1,800 (2.14%) Waste Management: $4,600 (5.47%) Total Expenses: $26,100 (31.05%) Net Operating Income: $57,960Assuming a 10% Cap rate the value of this property today would be $579,600.
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8 July 2015 | 15 replies
I have a decent amount of start up capital for my marketing but I just want to make sure that I efficiently maximize each and every dollar so that I can build and maintain sustainability with my marketing.
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4 July 2015 | 4 replies
Chi:Absolutely, if your debt ration supports or can sustain two mortgages then you should be ok.
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4 July 2015 | 8 replies
Other things to check include: was the notice of sale properly published, are there any federal tax liens, are there any liens which survive the foreclosure(in my county people borrow money from the utility company to put in a heat pump and they put a lien on your house, those liens survive the foreclosure), did they file a substitute trustee, did all parties sign the previous warranty deed, does the legal description of property match the address, are there any survey issues.
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19 September 2015 | 22 replies
The questions I have are utilities?
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8 July 2015 | 13 replies
Just remember, however, that there are people that utilize an online persona to be less than honest.
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14 October 2016 | 14 replies
@Brandon Crumpton - Great question and @John Thedford summed it up nicely.Yes, it's a double edged sword that enables you to take massive leaps forward and risks or can be utilized to the point where you overextend yourself and then being unable to sleep well at nights.Use leverage wisely and you will benefit from it's advantages positively.
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12 October 2021 | 1 reply
Ryan,All three of those options are good ones, I have seen individuals build successful real estate careers utilizing those strategy.In short, option 1 is get started as an investor and option 2 & 3 are get started as an industry professional.
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12 October 2021 | 5 replies
I would recommend splitting utility bills equally between you two as well, if everyone has buy in for the bill, they're less likely to leave the hot water running for no reason.
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10 March 2022 | 10 replies
The landlord, my friend is elderly and on a fixed income struggling with the property tax payments and utility costs of the unit now .