All Forum Posts by: Brad Helmholdt

@Jim S. Sent you a message

I'm looking for a bank or lender in St. Louis for refinancing a few properties into one or a few loans. Is anyone able to refer me to a few? Preferably local / small community lender who has experience working with investors. This is for rental properties we plan to keep long-term so looking for 25+ yr term. 

Earn $3,000+ Finding Properties in This Area (Fort Myers & Cape Coral)

Work Remote, on your time! 

In Short: We’re looking for 10 people who want to get paid $1000 - $4000 per house.

- No experience necessary - Start immediately - Serious people only

Details: We buy properties for cash locally in Fort Myers, and we need people to help find us houses that meet our criteria, that we can buy & rent, or fix-and-resell to a homeowner. This is what we do. This is a great way you can earn some serious cash and help build our community at the same time. We’re willing to give free training to the right person, and you have no obligations - just opportunity.

If you're interested in this, visit the following link for more information: SWFLPropertyFinders.com.

(If that link isn't clickable, just copy/paste it into your browser.)

Brad

Sounds like he may have some motivation to sell. You may get a decent deal on it. $85k Cash Flow seems pretty impressive with only 27 homes. I'm guessing he owns it outright (no debt). Are they all park owned homes? 

One low/no money down strategy is a lease option. A lease option would allow you to have financial / operational control of the park for a defined time period (i.e. 2 years) without actually buying the park from the owner. At the end of the term (2 years in this scenario), you would have the option to buy the park at a price determined at the inception of the lease option. Most owners will want you to put something on the table (e.g. $10k) to show you're serious. These types of deals will be pretty rare; owners will really only use this a last resort if they can't sell their park (because it's extremely distressed, etc.). 

Jesse - 

I'd say the structure should be entirely dependent on what the other partner brings to the table. Do you already have a partner in mind or are you still searching for someone? Based on what you have to offer, it probably makes sense to search for a partner who can provide additional financial backing and some past experience owning parks. If the park requires some operational improvements, your experience flipping and time flexibility would be a huge value as an operational partner. I'd recommend looking for a partner that fits your goals/objectives and is complementary to you and then figure out how to structure the partnership. 

Check out "The Mobile Home Park Investing Podcast" episode #17. I just finished listening to it and there's a good example of partnership deals discussed. 

@Skip Gilliam My wife and I are on our third house hack / live-in-flip and it's been a very successful strategy. There's not too many other investments where you can get tax-free cap gains!! Depending on your market, you may be able to keep your house as a rental as well. Just make sure to keep in mind the 2 in 5 rule (https://www.irs.gov/taxtopics/tc701.html). We've done that on both of our primary houses until we have a plan in place. 

I filled it out! Thanks

Please send me what you have for FL and WI. 

[email protected]

Thanks

Rahim - I am interested Please PM me. 

Thanks, Brad Helmholdt