All Forum Posts by: G Pyros

Okay, so you are actually receiving $500/month PLUS $150/month but that is going to your parents? It wasn't stated clearly initially. 

What is a fair estimated life of the mobile home? What is the age of the A/C? I am assuming no taxes are involved? Also $150/month for insurance, don't know your area but I know you get natural disasters, I would definitely get a quote first, information is your best commodity, the more you have the better you can assess this deal.

Brings up popcorn... Should get interesting!!!

Don't know the details of your child support but the only "LEGAL" way would be you own a LLC and with the depreciation you are negative cash flow....

Again, I do not advocate ANYTHING illegal or unethical especially taking money from kids.

Here are some quick # I ran. I estimated some of the unknown expenses for you. Negative cash flow of ($92) a month.

This would be a different deal if it wasn't a mobile home, mobile homes I would consider more like a car as in a expendable asset, where as the land is the value, in this case you have no land. Nothing to build equity with.

Bad deal,

Your net rent is $350/month and your loan payment is $290.. Will you have insurance? Maintenance? Vacancy? 

Bad deal written up and down.. I don't need anymore information..

Like always, if the numbers work, there is a deal. Deals can be found in any market. Some markets it's easier than others and requires more skill. 2009-2011 was a very easy market, don't know exact % that purchased but I would say 90% who bought during those times have equity, a fair estimate.

Just be careful with the pension

https://www.washingtonpost.com/news/get-there/wp/2017/02/02/pension-plans-in-peril/?utm_term=.c5ad6d451974

Definitely a government job, but in the private sector having a pension is not ideal especially if it could be cut.

Does your company offer a 401(k) match or just the pension? Not much experience with pension and don't plan on researching much because I know they are becoming obsolete, however 25 years in 1 company does not sound like a good ROI since you are so young.

 The thing is, can you tell me where the next market is that will provide appreciation returns respective to your past history? You can't, I can't and nobody can... However, with a little experience someone can buy 50 cents on dollar or find simple ways to increase value in the property. That is repeatable time in and out...