All Forum Posts by: Bill W.

Interesting question, but as Brian indicated, not nearly enough info provided. You've asked for people to evaluate different strategies but only given info on one exit strategy.

Page Huyette You'll really need to break this number down to determine the market value. How many mobile home lots are there? What's the lot rent? Don't consider the rent from the home themselves to determine value.

You will really need to parse out the mobile home park value and the SFH value. And I would expect a pretty nice cap rate on the homes since they are embedded within a park.

If you use a cap rate to determine the park value, keep in mind that the operating expenses of a park are lower than SFHs. Most estimates put it around 35-40% of gross rent.

A common formula to determine valuation of a park is (# of occupied lots x $lot rent x 60) + (# of empty lots x $lot rent x 30) + whole sale value of the mobile homes.

Bryan, all that aounds good.

Was yesterday's meeting an open meet up that just consisted of meet and greet time or was there a bit more structure? I saw the comment about moderating the event so it sounds like there might have been some directed discussion.

Also, do you recommend that people show up at the start time or is it a come and type event?

Sounds like a really good turn out. sorry I missed it but I'm still not fully recovered so it was for the best I sat out.

Glad to hear there is another meet up scheduled so soon again. I mapped this next location and it's only 1.3 miles from my house which is actually farther than the one yesterday. I like whoever is coming up with the spots for the meetings.

I am not certain I will be able to make it tomorrow. I have a sore throat from allergies that is so severe I have not been talking today to give my throat a rest. if my condition hasn't improved when I wake up tomorrow, I'll have to sit out. It would make for an awkward meet up if I had to pantomime my introductions.

Sean D if you approach owners whose listings have just expired I would imagine you'd have great success. If the home was listed at market value, the seller is saving 6% by cutting out the realtors. You're over halfway to your 10% goal so negotiating 4% off should be pretty easy for most homes.

Brandon Foken On your blog you write that it took you many hours on the internet to find the paper, however you never say where you found it. I'm asking for the company name, website, or street peddler where you purchased it. :)

edit: yes you did. I had to click around on your site rather than the page you linked. thanks.

Brandon Foken where did you find the printer paper that you used?

Most shows cut corners on the math but Income Property is the absolute worth. Their logic is get $800 a month in rent and consider that a 100% reduction off the mortgage payment. No regard for repairs, vacancy, taxes, etc.

Watched Queen of Versailles and enjoyed it quite a bit. I would have enjoyed it more had they delved into David Siegal's life a bit more. He was the more complex one of the two.

As for Jackie, let's just say she is not the most self-aware individual out there. The irony was apparently lost on her when she complained about the banks offering them predatory loans with money that they shouldn't have borrowed in the first place. She was seemingly oblivious that is what her husband's business model is built on.

The company had zero regard for their customers' financial situations and the impact of buying a time share with horrid terms. I'm not taking responsibility away from those who bought time shares, but to get rich on people's bad financial decisions and then complain, when caught on the bad end of a loan, is pretty brazen.

The only people I had much sympathy for were the older kids. They didn't have decent role models and seemed to be dying for genuine affection.