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Results (10,000+)
Ethan Johnson Analyzing MHP Deal - Buy or Not?
6 April 2020 | 13 replies
The “key” elements of the transaction are explored first and usually, the most intensively.The buyer should provide the seller a comprehensive disclosure statement and include a term in the purchase agreement that obligates the seller to return the document within 5 days of acceptance.Professionals are hired to complete Phase 1, 2 & 3 reports that identify potential or existing environmental contamination and all other elements of elements that are difficult for the buyer to effectively evaluate.Financial Checklist3 years profit & loss statementsRent roll with space number, name of resident, move-in date, renter or owner occupied, number of occupants, monthly rent, additional charges, current balance due and any relevant notes about the residentList of capital expenditures for the last 3 years3 years of tax returns12 months of bank statementsCurrent accounts receivable statementList of park owned home including copies of “rent to own” or sales contractsCopy of all current insurance policies, binders and premiumsSpreadsheet detailing who pays all utilities including water, sewer, gas, electric, trash, cable, etc…For all utilities and charge backs, formulas, calculations and meter readings for the past 12 months3 years of utility billsProperty tax bills for the last 2-3 yearsCurrent staffing list including position, wages, job descriptionsCopies of any contracts that will transfer to buyer including laundry, trash, phone, equipment, etc…Dates and amounts of the last 3 rent increasesSigned rules and leases for each residentNames and contact information of professional service providers including lawyers, accountants, engineers, insurance brokers, inspectors, appraisers, realtors/brokers, etc…Physical ChecklistSpreadsheet for utilities that details age, composition, capacity, physical locations, etc…Any drawings or maps of the park and infrastructure including lot sizesSewer plant or septic system repair and maintenance recordsWater well tests and compliance recordsDisclosure from seller of current or recent problems with infrastructure including buildings, water, sewer/septic, gas, electric, etc…Names and contact information of contractors including plumbers, tree surgeons, electricians, gas inspectors, septic companies, roto-rooter services, etc…Locale ChecklistProfile local housing market:“Stick-built” – current foreclosure rate, months of available inventory, median home price, average rent per month, vacancy rateApartments – average rent per month, vacancy rate, prevalence of move-in specials…MHPs Comps – average monthly charges (rent, utilities, etc…), vacancy rate, # of homes for sale, etc…Profile local economy including population, major employers, unemployment rate and trendsCopies of city, county and state permits, licenses or certificates of occupancyCheck zoning for recent or pending changes to target property and adjacent parcelsCheck for known environmental issues with target property, adjacent parcels or in the communityCheck for major development or construction projects in the communityReview existing surveys or environmental reportsConsider geographic factors including elevation, annual snow fall, rain fall, proximity to bodies of water, etc…Disclosure from seller of current or recent lawsuits, regulatory or compliance issues, fines, fees, etc…
Account Closed PM refusing to show rental due to Corona Virus/COVID-19
26 March 2020 | 54 replies
Or are your agents using personal phones to FaceTime/video chat the interested leads?
Amit M. Rental showings during coronavirus/Covid-19
22 May 2021 | 27 replies
I am also prescreening people on the phone much more closely, to make sure that individual showings are productive.
Diamond Nicole First time landlords please help!
18 March 2020 | 9 replies
An email or phone conversation would be suitable.
Andy Mirza Effect of Pandemic on Note Business (Medium and Long Term)
3 May 2020 | 46 replies
We typically communicate with vendors and colleagues primarily via phone and e-mail.
Michael Craig Tenants Car Broken Into, Belongings Stolen
18 March 2020 | 8 replies
I just received a text from a tenant stating their car was broken into last night.
Jose Leija Owner of other side of shared duplex is unreachable.. Issue.
18 March 2020 | 13 replies
I've tried to contact the owner of the other side for over a week now but doesn't answer phone calls.
Anthony Pisciotta Reduced Rents for COVID-19?
24 March 2020 | 43 replies
If they do come to you with issues then work with them, but don't fix what isn't broken.
Chris Lawrence Tenant Rental Process
19 March 2020 | 6 replies
I currently do a phone interview, application, and showing.
Tom B. 403b Question-Need advice
10 April 2020 | 16 replies
Depending on how their plan is structured, she may be able to roll some out so it would probably be worth a phone call or email to HR.