All Forum Posts by: Erica Bader
Erica Bader has started 1 posts and replied 3 times.
Post: Buying mobile units that aren't detitled?
- Rental Property Investor
- Aurora, OR
- Posts 3
- Votes 0
Originally posted by @Jerry Lucker:
@Erica Bader
Mobile homes on their own land, not in parks, have the option of having a title or not.
One consideration is taxes. If they have a title the home will be taxed as personal property, the land taxed as real estate. If the home is title eliminated the property, home and land, will be taxed as one entity, real estate. The taxes will be different depending on which way the title is handled.
Financing is usually better if the units are entirely real estate.
Thanks Jerry! Yah, I definitely need to find a local lender to find out about financing. It's out of state for me. The homes are each on their own tax lots, so its not technically a mobile home park.
Should the deal be cheaper since the homes are still titled?
Post: Buying mobile units that aren't detitled?
- Rental Property Investor
- Aurora, OR
- Posts 3
- Votes 0
I'm looking at buying a property with 25 mobile homes on it. (Not a park where you rent the spaces, you actually own the units) The current owner definitely will not detitle before selling. I don't know much about the practical consequences of that. I've never done mobile homes. Can anyone share any info with me? Pros? Cons? Lending consequences? Thank you so much!
Post: Why not do Multifamily Syndication in the Portland area?
- Rental Property Investor
- Aurora, OR
- Posts 3
- Votes 0
@Eric Berkner Hey! I'm looking to sell two 4 plexes in Molalla in the next few months. Not sure on the value yet, but they've been great for us. Always easy to fill with quality tenants. I'm pretty new to bigger pockets, but feel free to message me if you are interested.