All Forum Posts by: Account Closed

Jacob Passmore Thank you! I'm having bad luck. I don't mind paying a reasonable amount but asking $2,000 on a house that's valued at $110,000 seems WAY too high. Looking forward to hearing from you.

I searched BiggerPockets for a thread but all of them were over a year old so since premiums are constantly changes I thought I could try to get an updated result. Does anyone know of a good and affordable landlord policy? Which companies are the best. I've tried some of the top companies but they seem VERY over priced for me. I just got notice that my policy will not be renewed so I need a new policy ASAP. I was auto assigned Travelers but they damn near tripled my premium from $800 to $2000. Does anyone have some suggestions? I'd really appreciate it! Thanks.

Originally posted by @Dawn Young:

Originally posted by @Account Closed:

Mobile homes depreciate faster than cars. Not something I would personally take on. Something that might work though is just purchasing a few acres of land and renting out the lots to people who own their own mobile homes. They could pay you a monthly fee for letting them park there and wheel their own trailer in. No maintenance fees. No hassle. Just collecting every first of the month

Who are you thinking drills the well/septic?, or plumbs sewer/water? The tenents? Or Are you talking about rvs?  Just curious.  :-). 

 Hee hee. Yeah, I guess you got to spend money to make money. Not something I've looked into personally but in my head it seems like it would be worth the investment. I'm sure there are single septic units built to handle the volume of a good sized park. 

Mobile homes depreciate faster than cars. Not something I would personally take on. Something that might work though is just purchasing a few acres of land and renting out the lots to people who own their own mobile homes. They could pay you a monthly fee for letting them park there and wheel their own trailer in. No maintenance fees. No hassle. Just collecting every first of the month. 

Hey Brandon, everything sounds great. The only thing that concerned me is you said the property "looks" in good condition. Never assume. You are going to be getting it inspected right? Just wouldn't want you to find out there is a foundation problem or termite infestation further down the road. Good luck!

Personally, I would have been ecstatic to have gotten that $15,000 appraisal. I love when properties get undervalued! Only when you're the buyer though! That is not something you want to happen if you are the seller. It leaves you as the buyer with the excuse that the bank won't lend you the full amount but will lend you up to $15,000. Usually the seller will cave in and sell it for the lower price so you can get some steals that way. I sure have. Good luck!