All Forum Posts by: Ben Nelson

I think your best bet would be to reach out to some larger property management companies in the areas where you’re looking. They’ll be the ones who would know what the local city laws are and how they’re different, and how that plays out in the real world. Find those who are closest to the front lines of the questions you have and ask them. Way faster than Google and more reliable. ;)

It’s shocking to me how many people bring up in casual conversation about their using of investor money for their deals...and you just know from how they’re talking about it that it’s structured in a way that’s just as casual as their conversation. Too many people are not willing to invest the time or money in setting up the proper structures, but they’re risking their livelihood and reputation by doing so. This is a business, and setting up a business takes investment in it Take the time to learn and spend the money to structure properly.

Hello all,

Does anyone know of any conventional financing sources or specific banks that will financing manufactured homes on real property for non-owner occupant/investors? Conventional or FHA, owner occupant loans are readily available if the homes meet their criteria, but I'm running into a wall on non-owner occupied loans for the same product. Acquisition loans, and even better the possibility of cash out refi investor financing would be awesome. On the cash out it would be a performing rental property. Any direction or resources would be helpful.

Simple - Cash flow = control.

While another property may "pencil" better or have a better overall ROI, but not cash flow, that's extremely risky in the event of a market shift. We're in an overall economy of extremely low interest rates and historically high rents (mass generalization, I know). If you're buying into something that has net zero cash flow, what happens if rates rise, rents and/or prices fall, or unexpected expenses come up? You need to have some kind of buffer. Honestly, I'm super concerned when I see people buying things that pencil today with extremely skinny numbers, given all the above factors. The numbers may work now, but not with a change in even any one of the above potential shifts in the economy.

Don't buy just for appreciation or long-term numbers without considering the ability to control that asset until you reach that final outcome.

But, I'm conservative. :)

We're looking at purchasing a home that's a geodesic dome structure and need someone to evaluate the roof and give us an idea of replacement cost when it comes time for that. Does anyone know any roofers in the Portland area that are familiar with this type of construction? The home is in the West suburbs of Portland. Thanks!!

Hey Brandy, You need to ask your CPA and work closely with a custodian to help with the 1031 but I believe you can defer a portion of the gains and only pay tax on the portion you take at the sale. Good luck! Portland is a hot market as well. What are you looking to buy and what part of Portland?

Wow you skeptics need to find (or start) a better group or maybe go in with a different mindset. Yeah there are some salespeople out there but there are a ton of investors that are willing to share their knowledge and experience. We work in a networking and knowledge based business. If you dismiss investor groups you're missing out.

Look up Craig Horton in Medford. Long time investor and apartment owner. I believe he runs a rental association meeting but I'm sure he's also involved in or knows if the best investor groups down in that area. Agbora check out the Rare Bird investor network here in Portland. It's the best group around.

Call Kyle Pearson, Pearson Advisory for a great CPA and team. Works with a lot of investors as well as contractors. They're located in Bridgeport Village in Tigard

I would look at a good multi-family deal that has upside. The awesome thing about income property is when you increase the NOI you increase the value, and therefore create leverageable equity. Once you have established the new NOI and built that equity you can leverage it and do it all over again. Leverage is the name of the game when you're in the acquisition phase. One great thing about a hot market and lower cap rates...it takes less of an increase in NOI to get a large impact in value.