All Forum Posts by: Jonathan M Peters

Thanks. I will work the numbers. I'm normally have just bought and held properties to get max cashflow out of them. 

This being a manufactured home in a city neighborhood and being listed at 103 seems that it is something that will never gain value and a better idea to buy and rent for as long as possible? I dont know. If there is more advice or avenues I'm not seeing please let me know.

Hey everyone,

I have been thinking about this for a while. I'm really dumb when it comes to the people I should try and seek out to help me with the questions of: Why, When, How with a bunch of WHY?'s mixed in between when it comes to making a official business out of rentals.

I have 1- Single family home and 1- Duplex currently (besides my home I live in.)

I have just been looking for homes with low rents that I can pickup on the MLS and increase the rent to cover my loan to purchase them and cashflow 200+ for repairs etc. and eventually income if repairs are not needed.

Any advice/direction is greatly appreciated.

I would love the opportunity to get into a Multifamily unit of that size! Sounds like an awesome deal. I might need to get out of my old backyard.

Oh, thanks for the Welcome!

Chris, I purchased this House a few years back and after staying in Moses Lake for a year started renting it.  When I started renting it I was new and was renting for much less then I should have been. When I increased the rent to cash flow. I ran into the New school bond for the area ;(  

Eventually, I will make money on the property.... Eventually. 

The home is in Knolls Vista. I can DM you the address. I'd love to hear your opinion on rent prices and from the hip value.

Investment Info:

Single-family residence buy & hold investment in Moses Lake.

Purchase price: $125
Cash invested: $5,000

Projection of 300$ monthly cashflow after vacancy improvements.

What made you interested in investing in this type of deal?

Cashflow, retirment

How did you find this deal and how did you negotiate it?

MLS

How did you finance this deal?

Bank financing

How did you add value to the deal?

Turnkey property. Lived in property for 1yr

What was the outcome?

Currently rented cashflow 100 month

Lessons learned? Challenges?

Working on cashflow numbers and negotiating cost of property

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Trino Pena - Coldwell banker- moses lake, wa

I'm looking to purchase my 4th Unit. The idea is I want to Brrrr the property. This is a manufactured home in a city neighborhood. This would be my first manufactured and I need help with this. As it seems it does not gain equity. Is this a sound investment?