All Forum Posts by: Carson Campbell

Hi All,

I was approached with an opportunity to purchase an RV park. I currently have one rental and a second property that is my primary residence. I will need to sell the rental to afford the purchase of the RV park but I have a couple of questions before doing so. 

1. The RV Park owner bought the property for 400k in 2020, and is asking 1.2M now. He shared an excel file that shows his breakdown of the financials which look good, but I'm thinking I need to ask for bank statements to prove the consistency of income. Is this possible?

2. If I sell my rental does it qualify for a 1031 tax exchange? Or could I use property as collateral?

3. I learned that another investor is building another RV park adjacent to this one. Would this scare you off?

Thanks for your input!

Hi BG Community,

I started renting my first property in May of this year on a 12 month lease. The tenant paid the first two months up front, and then paid each month on the 1st as we agreed upon in our contract. Last month the tenant paid a day late but I decided against applying the late fee. I send the invoice via email and then let him know I sent it via text. Its the 4th now and he hasn't paid or responded to my initial text on the 1st asking if he received it, or my follow up text yesterday. 

At what point do I notify him of the late fee and or consider eviction proceedings? My initial thought was I'm more than happy to be flexible if he would at least communicate why he hasn't paid it or when he will/plans to.