All Forum Posts by: Jon Klaus

Perfect example Marc!

Are you working with the park manager to make these go smoothly?

I second "Getting Past No" by William Ury . It's been 12 years since I read it, but I still use the principles often.

http://www.amazon.com/Getting-Past-No-William-Ury/dp/0553371312

Possibly an S Corp, where you pay yourself a small reasonable salary that gets taxed at ordinary income rates, plus SE tax. After the salary you save the 14.3% SE tax. You pack all the expenses you can (legitimately) into the Corp. to reduce profit (and salary).

REI doesn't get really tax efficient until you hold long-term (more than a year) or run it through an IRA.

Anyone from the afternoon crowd...?

Where is your market?
Are you seeing any changes?
Rents gowing up or down?
Time to fill vacancies?
Quality of tenants?
Demand for certain product? (low/high end, number of bedrooms, etc)

Comments on the changes you are seeing?

Ha! Great story anyway, Jeff. Any threads on boarding houses? (the kind where you rent the rooms)

Congrats! What kind are they?

Our Alpines are due in April. A friend's doe that mated with the buck we used just had quads!

Property taxes of $200 a month or almost 10% as Jon pointed out is crazy high. Possibly they are based on the old tax appraisal that you can get adjusted down based on your purchase price. That;s one way to improve the cash flow and profitability.

Does the house need any work? Budget for that?

I agree that Deals on Wheels is the gospel for mobile home investing. A great place to start if you want cash flow but don't have much cash to start.

Dave, Bof A seems amazingly loose on their credit cards given the current environment. I have a few of their cards with $15K-30K credit lines that they are constantly offering me 0% offers for 9 months or so. They do have 3% up front fees, but could be used to buy cheap houses.