All Forum Posts by: Aaron R.

Yes. Manager receives stack of bills then hands them out to the tenants. Bills include all charges including lot rent.

I pay around $3.50 per space per month. They read water, electric, gas. Send all the bills to the manager. To send bills individually to each tenant will cost more. I use a company called spectrum. Not sure if they operate where you're located.

 If they're submetered by you then the bill goes to you. You should get a meter reading company if that's the case and they will generate the bill for you that will include all your other charges looked lot rent. They can then send all the bills to the manager or individual bills to each tenant.

@Nate Pattee I just closed on my 2nd park in Tucson a few weeks ago. This one is 54 spaces and less than 50% occupied. Feel free to message me and I'd be happy to discuss strategies. 

@Gulliver R. It all depends on the age of the utilities. Mine are 50 years old. After battling water leaks on old galvanized pipes I'm just preparing to run new water pipes through the whole park. If you're master metered for other utilities you can be responsible for electric lines, water lines, sewer lines, gas lines etc.. Electric can include distribution equipment, buried lines, and pedestals. Gas will likely require yearly leak surveys and maintenance of a gas pipe protection system. When buying a park it is necessary to know the age/condition of all utilities you will own. 

I'm building a little over 2000 sq ft for around $80/ft. Now I'm not done yet but that is where I expect to be. We're installing flooring and cabinets now, so we are close to finishing. This includes all permits and architect fees as well as demo of an existing 1000 sq ft house. We saved some money by keeping some of the existing slab from the old house as well.

@Sam Grooms. Sounds like a nice project and a big one for your first flip! I'm on flip 4 and 5. They were originally planned to be additions but I ended up scraping the house and building new. One is almost done and the other is currently at framing. 

Also my wife and I both quit our jobs 2 years ago to focus on real estate full time. 

I'm not sure you can sue and win or not. I am however shocked at the lack of due diligence that was done on this purchase. 

Was this deal represented by a broker? 

@Felix Yang. I'd recommend networking. Go to AZREIA meetings and subgroups. There are lot's of so called "mentors" our there who will not have your best interest as their priority. Given you have something to offer (money) I'd say go network and find investors who are actively flipping multiple properties. You can be a money partner for a set interest rate or a percentage split of the profits. Since you want to learn you may take a lower percentage split of profits or a lower interest rate. Just make sure if you provide funding it is through a title company and is secured with a deed of trust and promissory note.

@Stephen Lee You are going to need a realtor down there to sell your flips. Find the one you want to work with up front and they should have no problem helping you with comps given they will get the sales commission on the back end. Your job will be to analyze their analysis to make sure you are comfortable with their recommendation.