All Forum Posts by: Alex Locklear

I wanting to target multiple cities/markets and want to create multiple domain names/websites that all forward to my main site (so I don’t really have to create a new site for each domain). Does anyone know the best way to do this? I know there is masking/forwarding/different ways to potentially do this but want to know the best way and don’t want to negatively effect my site somehow. Thanks in advance!

Carl Fischer I bought it knowing about the issue as I know I can sell the land alone for more than I bought it for. It is my understanding that boundary surveys are not included with title insurance..

So I bought a house last week that is currently encroaching a good bit on the neighbors (Church's) property. The house was built in 1935. The house is a border line tear down and I got such a great price on it that I could still make money on the dirt if for some reason I couldn't get the issue resolved and had to tear down and a buyer eventually build something back within the property lines. 

I've reached out to the Church to see if they would be open for doing a lot recombination and allowing me to give a few thousand $$ in exchange for allowing us to have the piece of land the strucure is encroaching on. I'm positive and hopeful they will work with me on this...

My question is for you legal guys and gals out there: If I can't work something out with the Church, is there any chance at all I have a case for adverse possession here? Again, the property has been there since 1935 and no one has said or done anything it. Is it worth pursuing a possible adverse possesion claim if I can't get the church to agree?

Thanks for any help!

Alex

Originally posted by @Bill F.:

@Alex Locklear Seems like you'd get good returns for the duration of the Rent to Owner Period, but have you modeled out if the lot rent alone would cover Taxes, Insurance, and Maintenance?

 My gut tell me that once you sell the home, your revenue goes down, but most of your expenses stay the same.

 Also, I think you'd have a pretty small buyers market if you wanted to exit for such a unique asset.

Bill, as the land sits now (obviously there isn't a MH on it yet) the taxes are about $150/year. Not sure how much that would go up once there's a mobile home on the land. As far as insurance, I haven't gotten that far yet, but my guess/hope is that since I already have a general liability policy that I keep open year round for my house flipping business that I'll just be able to add this property onto that policy. Once the seller buys on owner financing, they'll be responsible for the maintenance on the MH itself. I would be responsible for keeping the grass cut, etc. 

Nice Jeffrey. My plan would be to sell the mobile home on owner financing but just the mobile home; not the land it sits on. After the MH is sold I'll just charge a lot rent at that point and own nothing but the dirt. 

Looking into buying a cheap (5K or less) lot here in NC in a small town within 20 miles to a major city (Raleigh,NC). My plan is to find a cheap mobile home (5k or less) and having it moved onto the lot. Would have to add septic and water (well) and have priced that out to about $10,000 for both. I'm hoping to be all in for around $20,000 total. 

My plan would then be to sell the house on owner financing/rent-to-own and then eventually just charge a lot rent. Do this, rinse, and repeat. 

I know most people are traditionally looking to do either Lonnie Deals inside an existing park or owning the parks themselves. Curious to know if anyone is doing this particular strategy? Buy cheap land, move a cheap mobile home onto it, sell it via owner financing and then just rent the dirt... 

Thanks Jordan. I am not looking to start a MHP. I am looking to put a couple used MH on 2 separate lots. Each MH would be on its own lot.

This may be a dumb question but how many MH on one lot is considered a “mobile home park”? Is it just more than 1? I currently have a piece of property, about 0.81 acres, under contract here in NC for $10,000. My plan was to buy a couple used MH on Craigslist for around 2.5-5K (yes they are still around) and put them on the land. If I can’t do more than 1 per lot, would it not make sense to try and subdivide the 0.81 acre lot into as many lots as I can and just stick one MH on each lot? The land is located right outside of a major city that is booming in development, rental prices going up, etc. My plan would be to sell the MH on owner financing to make my investment of purchasing the used trailers back and then charge only a lot rent for ~$400/month. The land class for this particular lot is already “Manufactured Home” and the surrounding houses are mobile homes as well. 

So is subdividing a way to get around being deemed a “mobile home park” or no?

Getting ready to paint the interior walls of a new flip project and I want to use a sprayer.. Using 1 color only.. Not spraying the ceiling or trim. What do I need to make sure I mask off? Windows/Doors.. What about the ceiling? How far does overspray travel? Thanks in advance!

I'm also looking to spray the interior of a 1,600 sqft house. Walls only, 1 color. Would it be worth it to pay someone to mask everything off for me? If so, what do you think a fair price is?