1 December 2021 | 5 replies
Stay safe and healthy, Adam
2 December 2021 | 16 replies
Maybe I needed to open the pressure valve that binds my frustration in a healthy way?
30 November 2021 | 1 reply
Hello, im in my 2nd year of investing, I still consdier myself an advanced ametuer. i presently have 11 rentals (9 sfh and 2 commercial buildings) i only have 6 mortgages.Heres my issue... every single time i try to finance a property i have to jump thru major hurdles taking 3 months and recently even denied a loan.The part i dont understand... im a multimillionare, i have a healthy 7 figure balance in the bank. my rentals are all occupied and leased. i own 4 properties free and clear, i have a healthy DTI. i have a 750 credit score. i spent many years getting here after being told no for many years.
12 June 2021 | 28 replies
Do not buy a mobile home parks that has:1) No operating permit as evidenced by a Certificate of Zoning.2) No demand as verified by running test advertisements.3) Failing private utilities unless you have an approved plan to fix them and can afford to do so.4) Dirt roads unless you have a lender that will finance it, or the capital budgeted to pave them.5) One individual (other than the park owner) that owns a huge number of the homes (most lenders will not make a loan if one person owns more than 5% of the homes).6) Does not have a clean Phase I environmental assessment.7) Does not have a clean survey.8) Does not have a clean title.9) Is overpriced in such a manner that you will not make money with it based on reasonable performance.10) Does not have a healthy risk/reward relationship (buy low risk with high reward and avoid high risk with low reward).
7 May 2021 | 6 replies
If you try lying about who you are and get caught, it may blow up in your face.I recommend setting healthy boundaries.
6 May 2021 | 3 replies
Look at the financials and see if the HOA is healthy.
8 May 2021 | 10 replies
So investor no. 2 will be out 5% no matter what here and the VAST difference between the level of care/diligence of a PM with skin in the game vs someone hired to play the PM role would (in my book) be worth the extra 5% to be paid to investor no.2Having said all of that, it doesn't make sense for investor no.1 to do this for 5%- they are out 5% no matter what if a PM is hired, so why take on that extra work for free basically?
7 May 2021 | 1 reply
Some lenders wont allow this without you having a min. skin in the game.
7 May 2021 | 2 replies
Good healthy day Miami, I just moved here Networking is key for me !
11 May 2021 | 9 replies
That doesn't mean they sell at a discount....they still seem to sell at very healthy prices, but may give you the opportunity as you have turnover to improve units and increase rents.Not here to give you negative outlook, but the reality is often very different than what you hear on podcasts.