All Forum Posts by: Jonathan C.

Price: $179,900

ARV: $260,000

1 Level Rambler Upper Marlboro. Good Condition. Rent Ready.

3 beds, 1.5 bath, 1320SQFT.

Pics: https://drive.google.com/open?id=10LLQvJIdMyzFXkm6ZMMumigE3Ei0jZn-

1 time to see it on Saturday, November 17th in the morning.

Call 202-670-0919 or email [email protected] to get the time and RSVP.

2BR 1.5Bath over 960+408 SqFt located in ideal location. If interested email me at [email protected] or call the office at 703-596-5311

Pictures Link: https://goo.gl/BZR2QM

Showing Information: The property will be available 1 (and only 1) time on this Wednesday, Nov 7 in the afternoon. Email To RSVP and get the time.

3BR 2Bath over 1710 SqFt located in ideal location. If interested email me at [email protected] or call the office at 703-596-5311

Pictures Link: https://drive.google.com/drive/folders/1VWZNExmeD56RIAYlQDdz39tOeo-5A5-b?usp=sharing

Showing Information: The property will be available 1 (and only 1) time on this Saturday, 10/20 in the Morning. Email To RSVP and get the time.

Not yet... Doing all the remote due diligence first... 

Would you be concerned about converting the park owned homes to lot rent?

Thanks for the feedback. 

If we owner finance to existing tenants in POH at the same they're currently paying in rent but get to own and build equity, would that be difficult to do? I was assuming that would be something also all the tenants in park owned homes would go for. Or at least most of them. 

Hi Guys, have first MHP under contract (I'm full time fix and flip single family guy in DC area). Would really appreciate any comments/thoughts/suggestions... or 'dear god man run away from that park comments...'

• Price is $275K, he won't carry anything back
• 45 spaces
• 12 lot rent
• 28 park owned (would sell those to tenants on owner financing/rent to own to get to lot rent)
• 5 Vacant
• park homes rent currently $400-425
• lot rent currently $125- I think market is 175-200, but not many parks around so has been hard to get numbers
• 3 bed houses rent in nearest large(ish) city of Florence SC (30 mins away) rent for $800-900
• city water and sewer
• small park footprint wise, just 2 roads- 1 paved 1 dirt- and all houses in the middle of it, very small footprint, tight park

• Marion SC, super small town, but is 10 min from super walmart, 30 min from Florence, that is the nearest MSA (technically Marion is not in one)
• Marion small, slowly dying town; Florence growing, solid city/town
• Florence metro good growth since 2000, like 17%, low unemployment, everything looks solid there.

Numbers:

• I am pro forma-ing it at $150/space lot rent, 40 spaces, $6K/mo, after 45% to expenses is $3,300/mo net/mo... which is $39,600 net/year
• 14.4 cap on property pro forma
• 12 cap on property based on 125/mo lot rent at 40 spaces. However, neither current nor pro forma numbers include the value of the 28 POH that we will be getting as well and selling on owner financing back to the tenants. It also doesn't include the bump in rents we'll get for 4,5,6 years while those park houses are being owner financed to tenants.

• My biggest question mark is the little town it's in. I'm unsure if should be concerned about slowly dying immediate city is in. Florence is where most people work from my understanding. Diversity of employment in florence seems pretty good for smallish city/town. 

Hi Guys, have first MHP under contract (I'm full time fix and flip single family guy in DC area). Would really appreciate any comments/thoughts/suggestions... or 'dear god man run away from that park comments...'

• Price is $275K, he won't carry anything back
• 45 spaces
• 12 lot rent
• 28 park owned (would sell those to tenants on owner financing/rent to own to get to lot rent)
• 5 Vacant
• park homes rent currently $400-425
• lot rent currently $125- I think market is 175-200, but not many parks around so has been hard to get numbers
• 3 bed houses rent in nearest large(ish) city of Florence SC (30 mins away) rent for $800-900
• city water and sewer
• small park footprint wise, just 2 roads- 1 paved 1 dirt- and all houses in the middle of it, very small footprint, tight park

• Marion SC, super small town, but is 10 min from super walmart, 30 min from Florence, that is the nearest MSA (technically Marion is not in one)
• Marion small, slowly dying town; Florence growing, solid city/town
• Florence metro good growth since 2000, like 17%, low unemployment, everything looks solid there.

• I am pro forma-ing it at $150/space lot rent, 40 spaces, $6K/mo, after 45% to expenses is $3,300/mo net/mo... which is $39,600 net/year
• 14.4 cap on property pro forma
• 12 cap on property based on 125/mo lot rent at 40 spaces. However, neither current nor pro forma numbers include the value of the 28 POH that we will be getting as well and selling on owner financing back to the tenants. It also doesn't include the bump in rents we'll get for 4,5,6 years while those park houses are being owner financed to tenants.

• My biggest question mark is the little town it's in. I'm unsure if should be concerned about slowly dying immediate city is in. Florence is where most people work from my understanding. Diversity of employment in florence seems pretty good for smallish city/town. 

3BR 2Bath over 1840 SqFt located in ideal location. If interested email me at [email protected] or call the office at 703-596-5311

Pictures Link: https://drive.google.com/drive/folders/1PMHkheEK-aAQXOq2rGpD71O2CKl74Zk8?usp=sharing

Showing Information: The property will be available for Showing on Saturday, 10/13 in the Morning, please contact for the exact time. Email To RSVP and get the time.

3BR 2Bath over 1064+1064 SqFt located in ideal location. If interested email me at [email protected] or call the office at 703-596-5311

Pictures Link: https://goo.gl/MW7t3E

Showing Information: The property will be available 1 (and only 1) time on this Tuesday, Oct 16 in the afternoon. Email To RSVP and get the time.

4BR 1Bath over 1728 SqFt located in ideal location. If interested email me at [email protected] or call the office at 703-596-5311

Pictures Link: https://goo.gl/F2sz8n

Showing Information: The property will be available 1 (and only 1) time on this Saturday, Sep 6 in the afternoon. Email To RSVP and get the time.