All Forum Posts by: Frank Geiger

Yes, most probably give you an expense breakdown. At least the national ones will. They should also give you an estimate for cash to close.

Sounds like you know what you're looking for. Just put some numbers to it and go for it!

This strategy isn't good for repeat business... if you have to scrape some money out of the agent's commission, it's not a good deal anyways. Sometimes it works but you want them to bring you deals and this isn't a good way to have that happen.

Not sure I understand why you want to do this. What's the logic? What does putting it in your personal name achieve? 

Congrats on your success! What made you choose MHPs? Are you renting out the homes or selling them and collecting lot rent?

Whoa! Looks incredible. Way to come out on top!

Do you have credit card debt? Have you missed payments? What score do you have? What's the length of the oldest account? Are you maxing the card out every month? 

Look into what builds a good credit score and start working on that. There are ways to get into RE without credit but it will be much more difficult. 

You can plug the HELOC in as a fixed expense and calculate returns with and without (when paid off) to get a better overall picture. I believe all the BP calculators are based on fixed payments not variable.

Check out these calculators. They cover most of what you should budget. I also like to add in eviction.

https://www.biggerpockets.com/...

The "best area" is kind of subjective. There are peak market rentals like ski resorts, beaches, etc that are kind of cool if you want to make a lot of money in season then occupy out of season. Couldn't find a decent place near a major ski resort this season for less than $500 a night.