All Forum Posts by: John Brinkos

Has anyone owned a MHP when all the homes are owned by two other investors as rentals? General info: 40 pads. 36 homes in place. 0 owned by park. 19 owned by investor A and 17 owned by investor B. Investors A and B deal with tenant issues, placement and MH repair and upkeep. MHP owner deals with park as he would if there were 36 home owners (water, general landscaping and infrastructure upkeep, taxes and insurance) I have not heard much discussion on this model and I am curious if there are negatives/positive to it. There are discussions about being cautious when an investor owns multiple homes in a park but 100% seems a bit different.

I shifted my work schedule earlier in the day so my W-2 can coincide more easily with my REI. Bed at 10 up at 4 so 6 hrs. Off at 2 so I can evaluate and drive deals. Time with wife 6-8. Read a bit, decompress and plan tomorrow 8-10. Rinse and repeat! 14 doors 10 in last 18 months. All SFH and duplex. Expanding into flips to increase cash available and stepping into mid sized multifamily. Have a great day everyone!

Thanks so much for all the feedback! It has given me much to think about. Tiffany S, Who did you work with for the ductless? Was that just labor or equipment too? Jessem A, The room heat pump sound interesting. Are they like HVAC that are in the windows or do they sit on the floor in the room like a fan? Thank again to all! John

I have a 1800 ft 5 bedroom place that is a college student housing property. Currently there is baseboard heat and window AC. My electric bills were in the $900/mth realm this winter (avg temp 30). The house is 1930's so insulation is iffy. Single pain windows. There are efficiencies I can take with lower cost like upgrade windows but the heart of my question is does the cost of a HVAC system overcome the cost of equipment and installation of the equipment? Should I move toward a whole house ducted HVAC system and control settings or a ductless room by room heat pump/ AC setup? Which provides more long term (5 year horizon) cost effectiveness when monthly cost savings are offset with cost of unit and installation? Thanks for any thoughts. John

You are spot on about postcardmania....relentless even after you unsubscribe multiple times.

Has anyone in this chain looked in Sanford or know anyone investing in that area?

If there is anyone willing to talk about BRRR bridge financing please reach out. Like a couple of you I just retired from navy after 28 last in NOVA and came back to HR to work and enjoy grandsons. We will be expanding our holdings aggressively over the next few year. My wife and I currently have 7 properties/12 doors. We don't do the flip side but we actively seek reno's to hold long term. We have a bank that will refi is out after 6 months but need the bridge. Look forward to meeting all of you.

Great job! Welcome to the club

Brian's reply is great for the nuts and bolts if you are trying to evaluate the SFH to liquidate them separately but Chris seems to shoot an arrow straight to the point. Are you planning to break this up into multiple loans? Are you looking for financing and worried about the properties qualifying? Can you explain more about your concerns because it seems that you have answered your own question about valuation based on accepted offer and value.

I am looking at the property as a value add but don't want to walk into a value add that is way over priced. The difference between a 7.4 and 9 cap is over 200k so it's a big deal and a large chunk in potential profit...cushion to make sure the deal doesn't turn sour.

Since you are both in Richmond would either of you be willing to talk offline to go over the deal and give me any insights that I might be missing? Adrian is right that it is very tight upfront and needs to be a value add to make sense.