All Forum Posts by: Karen Margrave

Do you own the house you currently live in free and clear? Will you have retirement income, and if so, how much?  Debt, current income, expenses, etc. all weigh in to the equation. Even though real estate is a great way to increase wealth, there is a risk involved. In boom times it's easy to look at houses, see the appreciation and jump in. However; there's a recession predicted, interest rates rising, and prices are going down in some areas, and holding steady in others. What is the rental market like in your area? Are rents higher than they've ever been with no homes available, or is there an abundance of rentals? Same with homes for sale, how many are on the market compared to normal, higher or lower?  Every area and location has their own specific markets, and people on BP, though well intentioned can't give you specific information on what is best. If your present home isn't paid off, your best route may be to pay it off first, before buying anything. We are coming into what may be tumultuous times. Prices may drop, rents may drop, jobs may be lost, it may be better to sit tight and wait a few months to see how this all shakes out. 

Quote from @Ryan Havens:

there was talk of a Redding meetup. sorry I was so busy working this summer I had no time.however it is now winter and I have time if we wanted to do a meetup. thanks 

sory if I'm way out of the loop. thanks 

I didn't get a lot of interest in doing a Meetup. I think with prices being so high, and now with interest rates, there's a lot of people waiting and hoping the markets going to crash before investing. Our market here still has a lot of demand for rentals, and they bring top dollar, so numbers can still work! Set your keyword alerts to Redding Meetup, Redding, etc. 

We built spec new construction for years. Projects ranged from SFR, small office parks, office buildings, office/retail condos, etc. In CA it's just too hard to make the numbers work right now. There's others that have done spec construction on BP, do a search in the forums.

@Jay Hinrichs might weigh in. He has a wealth of information. 

Quote from @Michael Frank:

Hey all - my quick summary on my experience with this:

- i haven't really seen companies getting adus to turnkey in the bay area for under $300 / sqft consistently

- make sure the company you engage has a track record on this and not just nice looking renderings on their website. I would be very careful about some of the companies advertising adu's because of their lack of experience

- if you're site isn't flat, make sure your quotes are specific to your site

- understand the state adu policies - they generally take precedent over local ones and significantly less restrictive than those listed by local municipalities. the state has a technical team that you can email for guidance and they have been very responsive and helpful in my experience. 

Local laws always can be stricter than State laws, but not more relaxed. State laws are the baseline, but local code can be stricter. 

Quote from @David Reo:

@Namit Raisurana

I have heard other investors talk about a company called Boxabl based in Las Vegas doing exactly this. From what I have heard, they have a 300 sq ft model for around $50k. Pricing could be area specific ,but I hope that helps.

Boxable has generated a lot of buzz, but they are YEARS out on delivering units. 

Congratulations! What state was it in? Here in CA it's almost impossible to do MHP development, though with our current housing crisis you'd think they'd start reconsidering. ADUs were supposed to help, but those are so expensive to build it's hard to get a ROI. On your park, you sold the lots, how much did they sell for per lot? Were there any amenities that went with the park or strictly land?

Quote from @Karim Smail:

Do you rent to a deputy Sheriff ?

Any advise will b every helpful.

Thanks in advance.

and my response is still the same. I might add, you could do a much better job getting helpful advice if you didn't make your questions cryptic and provided actual details so that people answering could address any issues you're having, etc. Be specific. 

Welcome to BP! There's no other place that has all the information you can find on here for free. Any questions you have regarding investing has been answered if you do a search. As for meeting others, check out the tab above for Network then go to Meetup!  Also, be sure to set your keyword alerts for your area, type property, etc. so that you get notifications when someone is discussing it. 

This is an old post, but I thought I'd add to it as it's still relevant. To be financeable a manufactured home has to be newer than 1978 and on a permanent foundation, with all utilities and services available. 

More than likely it's price. Sometimes sellers have a number in their heads they "want" and it has nothing to do with the performance of the property, or the actual market value. If you yourself do not know the area and market, I would suggest finding a Realtor that does. Good Realtors know the local areas, the different types of properties, etc. Too often on BP I see posts "looking for Investor friendly agent". What is that? My time is valuable. I'm not going to run a bunch of comps on every property someone finds online, or give bids, etc. If a person is serious about buying then they need to narrow down their criteria, and be realistic. The formulas here on BP are not workable in every market. If you want to go it alone and you're inexperienced, be prepared to lose a lot of money until you figure out the ropes.