In exchange, he signs a new note and deed of trust with the exact same terms as what is remaining on the CD.Btw, speaking only Spanish in most of Texas is no disadvantage when it comes to buying real property as every title company has Spanish speaking personnel and every major real estate and mortgage broker does as well.  

In 2019, is it unrealistic to get a CoC return over 10% for a property in Orlando market that does not need major rehab?

In 2019, is it unrealistic to get a CoC return over 10% for a property in Orlando market that does not need major rehab?

IF we are talking about a  major MSA.. if its some little 5k population city hour away Maybe.. but then the tenants wont trash it they just don't have enough money to pay rent consistently.  

At some point, you price out the majority of people.

The majority are saying the same that @Brian Ploszay shared about it really not being that bad if it's capped 7% and CPI adjusted.

I'm sure the vast majority make their money at closing.

Underwrite how you want, but I can tell you the VAST majority of sophisticated and successful MHP owners do not underwrite rental income to the parks NOI; it usually significantly inflates the value of the asset.

I won't go into all the details here but my point is to highlight a bit more what's happening in the industry and ensure folks know its a team sport, that there are clear distinctions between an operator / sponsor and sometimes they are one and the same, and that the person who may be raising capital should both practically and legally have a broad based role in the GP partnership. 

Just remember 2 things if you don’t remember anything else: ensure you manage the cash flow properly so “when” something major happens you won’t sweat it and 2nd don’t be afraid to think and of the work.