All Forum Posts by: Brandon Oliver

The good ole boy system is still somewhat functional, I just don't want to go unpermitted and it come back to bite me. I was told by the owner of the hauling company he could move and set up a late 90s model without a title for 1.5-to-2.5k. That I could still rent but never sell. Titled MH were around 6-9k.

I just want a couple of rentals to get my feet wet

I was think more along the lines of just a couple of rentals at a time... Sorry my post made it sound like I was trying to start a development. I have a friend that hauls and installs mobiles and modulators, can attain and move them cheap. They handle the road permit and generally just hook them up to plumbing and electrical on site and the owner of the property handles the permits, or lack there of. Owners responsibility.

What is the process? I live in a rural area 30 miles west of Winston Salem, NC. And in my area, I have noticed that there are almost 1:1.5 (mobile : site built) homes. Economically its based around Farm/Factory work, or a Commute to W-S. The lower incomes of the tenant base make it difficult to even attain 1% price to rent. I do not foresee any drastic appreciation of home values to justify reduced cashflow. But I notice again and again that mobile homes on 1-2acres are selling for 50-70k. What are the step-by-steps to make raw land MH ready? What permits are needed for doubles and singles? Well, Septic, Power?

I am a newbie investor from Yadkin County, NC. I am interested in multi-family properties, but my area is primarily single families out of range for a buy and hold investor, which is the form of investing I am most interested in. I went and took a tour of a small 13 unit  apartment complex in Yadkinville, I honestly dont know how the place isn't condemned. My girlfriends family told me Ocean Isle is an ideal place to invest, they own a few singlewides towards Shallote. I am currently analyzing a 4 plex. The Cap rate is only 5.84% however with bank rates being so low on quad I can finance at 3.25% on 30y. It would cash flow 4,900 a year after 50% rule and mortgage payments. Being in a historic area near the Causeway I think it could follow a high appreciation rate. This quad was built within the last 20 years. I am a young investor eager to make a move, I just don't wan't to jump in on a bad deal out of eagerness. Anyone from Ocean Isle area that is familiar with non-vacation rentals, as well as anyone with experience insuring a waterfront properties' advice is appreciated.