All Forum Posts by: Khizer Husain

I have come  across MHP with 80-90% park owned homes that would do seller carry. Strategy here would be to give them to tenants.

@Frank Rolfe There are lots of deals that are available with seller financing and 10% cap rate. This basically means you are getting cash flow with no to little money down if you do seller financing + bank financing. This sounds to good to be true? whats the catch?

@Frank Rolfe How likely are the tenants to take the MBH for free knowing that they are living there free of maintenance?

Frank, Thanks. I am a multi-family investor and ground up construction investor. Looking to get into MHP. MHP looks like the way to go! Super exciting industry and niche. What are the eviction policies for tenants in most places?

@Frank Rolfe How easy is it to sell them for cash? Problem with giving them away for free to tenants is that tenants won't care to leave as they have no skin in the game (they got it for free). 

Is there any way around the SAFE act?

I am only looking at deals over $1.5 million. With MHP, are there PFA/Income requirements? Or do they mainly go for the asset? I have excellent credit score. 

Any lenders finance mobile home park owned homes with 80% park owned homes? Strategy would be to convert all renters into rent-to-own model.

I am getting 50% Seller Financing with 2nd position and looking for a bank that could do 30-50%. 

Please guide on financing and strategy of converting current tenants to rent to own. 

Thanks

40 units. This will be great to know and of great help

Hello, 

I have a multi-family property that gives me 10,000 Net rental income per month after all debt service and expenses. This property has been refi'd and it is stabilised. 

There is no room take out anymore money via refi. However, it is still generating 10,000$ per month. Can I take a business loan or any other loan based of the rental income on the property to buy more property? The property is owned by an LLC.

Hello,

I have about $1 million in Cash. The following is what I am thinking of doing via roofstock:

1) buying houses on cash with sufficient cash flow 8%+ cap rates 

2) Refinance properties immediately after purchase to build a portfolio and get my cash out.

Some challenges I foresee:

1) Finding lenders that will do no-seasoning cash out refi on cap rate

2) buying houses at a hefty discount to make sure I get my entire money paid + on top (Ideally)

What are your thoughts on this strategy? The key for me is speed. and I would want to buy as many houses and cashout refi as quickly as possible to build a large income portfolio, hence I feel iBuying would be the right strategy.

Thank you

If I have 10,000 USD per month of net rental income after paying all debts from my properties. How much debt/cash would the bank give me to purchase more properties?

Thank you