I'm in the UK but the technique will be the same world wide i would have thought.

When done correctly this method can provide liquidity, guaranteed returns, security from creditors, disability protection, and finally a death benefit.  

@Josh Nixis correct.

is this the correct way to do this?  

Bill was correct.

It's great that we got 17k over asking, but IMO it just means that it may not have been priced correctly.

Hello People,I am looking at putting a MHP under contract and would like to have some advise on how to value it correctly; the details to hand are s followsa) 34 unit MHP (15 of them are POH ) asking $350Kb) Total Gross income from lot rentals $5700c) Monthly expenses (onsite manager/maintenance $1200, property taxes $50, supplies/misc $150) - I feel the expense ratio is way to littled) tenants pay for all their utilitiesare there any other expense line items that I need to look at or ask forAlso can the experienced MHP investors  please advise on how to value this property

Is that correct?

Might be of some value to ignite the spark in someone who hasn't read anything about RE techniques.

Amos, as you could see, I'm rich in time, not so much financially.As mentioned above, I believe the housing market in the Bay Area will do well through summer of next year followed by a recession and a housing correction.