All Forum Posts by: Dave Rav

@Amber Forkey I have not.  I'm intrigued by this approach.  So, you're saying to reach out to PMs and see if they have clients who may be motivated to sell?  I'm open to hearing more.

Thanks!

this guy couldn't be more right! Stay close to home, and maybe keep it small to start out. I actually recommend an SFR rental (if you've never done one). You MUST understand the game. Gotta crawl before you walk..

Hey group!  I'm trying to kickstart marketing for small MF deals (4-25 units) in my region.  I currently own some multifamily, so I have some experience in this niche.  I'm trying to grow my portfolio.  

Open to full-service companies OR just lead generation. 

I've been vetting several lead generation companies.  Does anyone have any feedback on the following:

- reipro

- Listability

- Propstream

- Open Letter Marketing

- Invelo (via BP membership)

Thanks and happy investing 2023!

 Yes!  Quiet money rules

@Sean Hayes a true shame the county doesn’t care.  Displacement of those residents would be a sad thing.

To paint the picture to them, I would make a formal request to that same county contact or department:  you need full details on homeless shelters and programs in that area.  Also mention county resources will be strained as a result of tenant displacement.  You may even present this as a headcount to them (ie, say “85 people including women, children, and the elderly will be displaced as a result of the measures the county is taking”)

Lastly, as we look at creative solutions- maybe ask residents to write letters and even make visits to the county offices responsible.  

that is super creative (the incinerator).

To echo others' thoughts, yes, sounds like the county wants the Park gone.  One of your fighting points will be:  you provide low-cost quality housing.  

This is needed, especially at a time when housing costs have skyrocketing over the last 18 months.  Do your research and strongly present this data to them.

You posed some good questions on DD.

Septic - you mention the septic pro said "no issues."  Did they complete a full inspection?  To do an inspection, the tanks must be pumped.  Typically, this will be at your expense.  In my area, the cost to pump a 1k gallon tank and inspect is $400.  I have gotten the price down slightly with volume discounts (2 or more tanks).  Also, you'll want some info on the drain lines.

Water Well - get it inspected!  Trust me.  Include inspection of the housing vault enclosure.

**Take home msg on utilities - its always better to be on public utilities!  I realize that if property already on private utilities, this isn't possible without spending tens of thousands of dollars.  Just do your diligence and make sure the systems have been regularly maintained.

Other infrastructure - roads?  Paved vs gravel.  

Trees?  Are there alot of trees on property?  Do they pose a hazard to homes (dead trees, overgrown, or very close proximity to homes - I've actually seen trees grow INTO the siding of homes!  Why someone would let this happen over a course of years, I dont know, but I've see it!)

yes.  Basically contact surrounding parks.  You could even ask tenants in the various parks, as you drive around.

Hello.  Any interest in small MHP in S Carolina?

Hey!  This can vary by state (landlord-tenant laws, etc).  But, in general, I always try to give folks time to plan.  Nobody likes surprises and I feel this helps "stomach" the increase.  I usually try to provide 45-60 days.  This also provides time for ME to plan, in the event someone says they dont want to renew.

As for increases, I know right at this exact moment rents in most geographic areas are holding still, or maybe decreasing a very slight bit.  However, for the last 12-18 months, rents have skyrocketed.  Nonetheless, I try to keep my increases palatable.

You asked about procedure.  I send a "renewal notice" which highlights new rental rate, and reminds them they need to provide 30 days written notice if they intend to move out.  I then send the lease about 1 month before existing lease ends.  I also tell them to return the new lease by a certain date.  I've found some folks will just ignore the renewal, at which time I will raise the rent even further.  It pays for them to pay attention to these important matters, and be responsive.