All Forum Posts by: Matt Boettinger

Hi Cindy - Were you ever able to obtain titles on these?  Was this ever resolved?

 Rent to own is now illegal under Dodd Frank.  Another option is a Rent Credit Program.  It allows the renter to build up credits towards the purchase of any park owned home on the lot.  After they stay for so long they can use the credits to purchase. the key is not tying the renter to purchase the house that they reside in.  But give them the option on any of the available homes.  Good luck.

Have you heard of the RUBS system?  It is just an allocation formula that sp,it's the water bill up among the residents. You can tack it on the rental bill. Easy, free and straight forward. Just google "rubs water sub metering". 

If you just look at the existing revenue at an 11% cap rate it comes in at $889.  You would need some extra cash for all the rehab work.  Is this in park Florida?  Florida parks tend to sell for lower cap rates than most other areas.

David. Great job. I bet you could repeat that same action by keeping an eye on Craig's list for mobile homes for sale. Did you check with the owner of the park to see if he needed more?

hi Anthony,

Is it an existing park?  If it costs under 1m than a local bank is your best bet.   Also have you approached the owner with an owner financing option?

Google "Mobile Home University". There is a bootcamp in September put on by Frank Rolfe and Dave Reynolds.  I know a few owners who attended and they say it is well worth the cost. 

Welcome to BP.  

I would buy the park and not the LLC. Any open lawsuits or ones that former tenants are considering against the LLC would be inherited by you.

Hi William,

Welcome to BP.  This is a great place to learn.  Anything you want to know just post the question and it will be answered.  This is the place to increase your knowledge and give back too.

Matt