All Forum Posts by: David Ferrette

Currently I am an active real estate investor and developer (single family and large scale senior housing) but I am looking to get involved in mobile home parks.  Unfortunately I don't see any MeetUps or any other local gatherings where people get together to discuss this specific asset class.  I am putting this out there to see if anyone is willing to share their experiences in buying or operating mobile home parks in exchange for a free cup of coffee.   

This is almost comical between these 4 articles.

I was there and I agree with @Ryan Cink

See everyone there!

A negative cash flow house is not a good deal and it is not something you can scale.  If you are losing $500 a month on this house, do you want to repeat this project 5 times and be out $2500 a month?  If there was a downturn in the economy, not only would you lose money each month but you would also be under water on your investments.  That is a lose -lose scenario.  I suggest you pass and find something that will cash flow better.  You will probably have to look outside of Austin.

I would say attend MeetUps and talk to the local developers that attend.  There are plenty of knowledgeable people out there willing to share information.  Once you do find a lot you want to build on, go into the city and meet with the planning a zoning department.  They will give you insight to their zoning and permitting process.

Gambling on appreciation is just that, gambling.  You are crossing your fingers that appreciation will bail you out.  You would do better to buy right and fix up/force appreciation.  At least you then have some control over increasing the value of your home.  Real Estate is cyclical and if you buy at a peak and your are hemorrhaging cash, that is a serious situation that has less than ideal exit strategies.  

 http://www.hrgaustin.com/property-management/

@Linda Weygant

If I am building a spec home and have expenses in 2017, but sell the home for profit in 2018, when do I take my 2017 losses?  At the end of the 2017 tax year or at the end of the 2018 tax year when I show my total profit/loss on the project?

 Arturo,

I see that you blasted about 20 basic questions on the forums in the last few hours.  While it is great that you are eager to learn, most of the questions you are asking can be found by picking up a few books on Amazon or on this site.  I would also suggest downloading podcasts and listening to them whenever you can.  If you can focus on these two tasks, you will be up and running in no time.