All Forum Posts by: Bonnie Rakes

We bought a park,  $350k,  70 possible spots, currently 40 ready,  32 occupied. 22 acres. We got screwed.... Some of the 40 lots had utilities we had to locate... Underground Water/septic/electric lines . 3 Homes in sale but no titles. We do have people coming in here because the current lots are not on top of each other,  and have grass and trees. We should stay in touch. I had a resident here that was a mhp broker. I'll try to look him up and see what he might have. 

We are in north ok,  midway between wichita ks and ok city. 

We bought a park,  $350k,  70 possible spots, currently 40 ready,  32 occupied. 22 acres. We got screwed.... Some of the 40 lots had utilities we had to locate... Underground Water/septic/electric lines . 3 Homes in sale but no titles. We do have people coming in here because the current lots are not on top of each other,  and have grass and trees. We should stay in touch. I had a resident here that was a mhp broker. I'll try to look him up and see what he might have. 

Are you planning to relocate? 

You could partner...

It should depend on cash flow, chances for expansion etc. In general most people ask a higher price.... i would RUN from Parks in NJ. With the ins and outs of parks and NJ landlord tenant laws, i would not buy a park there. 

I would go for the multi, living in a unit, it will qualify as your home. While you are there, save every penny to buy your next property. If you buy a multi, make sure current tenants are paying, demand leases, proof of rents, rent deposits transfer to you at settlement.

It's not a n overnight riches deal. You need to be educated. find an investors REIA group, join. Go to all their meetings you can. You will learn and get to know what others are doing, hurdles you will encounter and pitfalls to avoid. As with any education you need to spend time with those who know more than you do.

Have you researched wholesaling? I bought a purchase contract from an investor... He did not have money to buy, so he located good deals and assigned the contract to someone who could complete the purchsse. He got $4000 for bringing us a townhouse deal, it needed small roof repair, cosmetics where leak was, and some updating. Truly a paint and paper job. We bought and sold within thirty days and made six thousand ourselves.  Just a thought.... 

i would avoid vacant lots... consider your market and how many people are in your market pool. I would consider working with a builder, where he will build on your lot and split profits, percentage wise based on investment in..... JMHO

PS.. violence = property damage

do your really want to risk your property getting a bad reputation? I make sure i am buddy's with my local police department just because. you can't always protect yourself... I had a gal renting, boyfriend moved in, selling drugs out of the window, thought he was a drive through window....           police found out, he violated probation, they had a warrant, he had a rep for violence,,,  SWAT came.... busted in front storm door and doors, busted in back door, bathroom window was open -- they threw in a flash bomb and destroyed the porcelain on the tub....            insurance covered it all, but then i got cancelled....