All Forum Posts by: Jesse B.

I'm generally not comfortable with tenants and fire. That being said it is a 1978 mobile home.  I think 3500 sounds quite high for a pellet stove and wouldn't pay for it myself.  If the previous tenants left because of the power bills I would consider doing something but otherwise I would let it go. 

I would be a little concerned as to where water going thru the crack is ending up. That is the cost to repair I would want to avoid.

I think this is a great idea for a business and have been considering it myself.  But believe it is a loser for a flipper unless in a high end market where the majority buyers care about such things enough to pay more.  I do believe that in certain markets you could start a business just around making homes green for existing owners, everything from a simple audit thru a total remodel.  Having some flips to show as an example would be a huge marketing tool.  I have seen some fascinating Eco friendly houses here in Australia and have considered such a business for the Colorado market, but some of the neatest rain water collection systems would be challenging in a cold climate.

I would guess you can find a bank that will do 20%, I have never looked as I get really good rates with 25% from my banks.  I would guess rates will be higher from a bank that accepts 20% but can't say for certain.  I can't offer any ideas on reserve as it has never been an issue.  I'm sure others will have more thoughts on the subject.

I guess the answer is a yes! ;)

I have always had to use 25% for a conventional investment loan.  I see people talking about 20% a lot though.

I agree, the best thing you can do is get your website noticed when people google PM.  That is the first place people look anymore and people are starting to question the validity of businesses that lack websites.

Secondly being new you need to decide what differentiates you from the other PMs in the area and be able to sell why that benefits the owner.

Thirdly, your lack of a proven track record puts you at an immediate disadvantage in a clients eyes.  I would come up with a plan to offer some kind of guarantee, easy outs on the contract or possibly no charge for a couple of months if you fail to fill quickly.  No track record is a very difficult obstacle in any business.

Good luck!  Most investors that use pm's value a good one!

@Jerry W - I think you have done fantastic!  What a significant amount of experience gained in a .  If I remember right you are in an area of wyo where deals must be few and far, I think the out of state attempts you have made might be the best education available!  Congrats!

Depending on what your skills and experience are but generalling yourself or taking over at enclosure are possibilities. Just don't overestimate your abilities, I have seen a few people burned that thought they were going to finish the inside themselves.

That seems high for an investment loan on a single family. Have you tried smaller local banks and asked about break points for different amounts down?