All Forum Posts by: Jay Hinrichs

@Ben Leybovich 

  you ever have occasion to use these with your NMD deals do you see this as a benefit or just another exercise with limited real world value ?

@Dave Salcido 

But Why ??? I have never really gotten into this land trust stuff.. Can you explain why one needs to do this as opposed to just taking title in your name or LLC name especially Sub too deals... Is it to avert an Alienation of the title ? Is it just for those that are extra paranoid and don't want anyone to know they own a certain property.. ?? Or paranoid over being sued etc etc.

Is that the reason people use these... Of course I hear of these but have never done one or seen one in all of my transactions which are numerous as I was a high volume RE guy.

And I guess this is all off topic of the original Thread  but you brought it up.

@Ben Leybovich 

  Do you use these in conjunction with your PPM's and such.. just curious.

@Russ Scheider 

  thanks Russ appreciate it.  these MH are on month to month from what I know.

As well as I know out here on the West coast in some jurisdictions it can take 1 to 2 years to evict.

@Toben B. 

  depends on your market.. In California you would need 50k minimum.. In my state of Oregon 20k plus.  and in many really hot markets 10% of ask.. If you don't have 10% you can't buy anyway because you need 25 to 30% down ..  now if this is a slow market then anything goes.

@Val Csontos 

I hear ya.. for me personally I am retiring form rental business. while others are charging ahead.. now for me my rental income comes in the form of interest income and JV profits make quite a bit more than rental income and do not deal with the three TTT's

But that's from my perspective and my work history as a HML.. l love cash flow in the form of interest income !!

I have made an offer to buy a MH P in SC.. can any of you very knowlegable folks enlighten me on the eviction process of the entire park.

Its full of single wide slum slum trailers.. I want to convert to a New housing subdivision.

I know here on the west coast it takes time to move folks out.

these MH tenants are all on Month to month from what I know. 

Quality of the homes Is hillbilly trash to the extreme but area is nice.. I just build a new construction around the corner and sold it for mid 3ook I want to put 20 lots on this and build it out.

advice would be appreciated.

@JR Hinds 

  If you go the TK route they will have it in house or set up for you.

ONe thing Brie and I are working on for phase two of our new website is to have PM's in the given markets on our site with reviews of them as well as there is just as much request for this as were to buy houses etc.

@Brie Schmidt 

@Al Mcbee 

@James Wise 

Will do but James I think has given you the answers. I at one point in my career and this is long ago.. but I sold the most expensive SFR to sell in the county I lived in... My buyer from SF Bay area they were cool.. the sellers were old folks and really probably should have died in this 5 acres lakefront estate.. But they sold.. so next thing we know they are taking everything out just like you describe.. down to the molly bolts in the lath and plaster.. it was a nightmare.. but I got it done.. and this was 1979... 24 YO broker and pocket 22k commish Man did I think I had the world by the tail LOL

@Al Mcbee 

 owe I have seen this one many times... you just have to duke it out.

@Ben Leybovich 

PS on my no money down buying rentals in PDX... at the same time I was one of the largest volume courthouse steps foreclosure buyer in the market... with 10 mil liquid in play anything but NMD... Of course it was primarily LOC from my local bank but we had 20% equity in the deal, which was our own internal cash.