All Forum Posts by: Lee Richter

There is not a presenter schedule yet.  Check in with Meetup.com and Check the Permian Basin Real Estate Investor's Group for details and they come.

Presenter is Robin Dassy  Topic: How Robin started with the group in April 2018 and closed on his first deal by the end of October.

The Permian Basin Real Estate Investors' Group Meets every month one month in Midland then the next month in Odessa. There are a verity of subjects. We are all interested in real estate and meet to learn and support each other. Go to “Permian Basin Real Estate Investors' Group” Meet up page for more details.

This month is our annual Christmas dinner. It will be a good time for you to come out and just meet everyone.  

@Roy Oliphant Sorry it took so long to reply.  So far the homes I have bought I had property for so I am not in MH parks yet.

@Martha T. I checked with bank and they said that having my account number in no way puts me at risk for tenants getting to my money.  All my tenants can only pay by 1. deposit at teller( we have smaller town and four locations.  So it is very easy for them to do this) 2. direct deposit from work 3. Transfer from there bank or 4. direct bill pay from there bank.  One word of warning.  My Credit Union said if they transfer money from an account from their account at my credit union to my account it give them assess to withdrawing money from my account, so before doing this go talk to your bank or credit union.  This payment method is in the lease.  Also in the lease if they are going to pay after eviction has been filed they have to have written permission.  This way if I am going to go all the way with a conviction to get rid of them they can't make partial payment or whole payment.  It says in lease I will only cancel an eviction one time.  I also empty the account after rent are in.  I can check online from anywhere the night of the 1st and see who has paid.  Good luck

I live in Midland tx.  I have no idea if this is a law or not.  I would tell the management company to show me the law.

@Carey Edmund  I did not mean for you to go out side of your area.  Some people like working out side of there area.  I won't even go to Odessa which is only 30 minutes away.  My time is too valuable to me.  30 minutes there 30 minutes back and you have waisted an hour.  I like areas that I am going to be close to anyway.  Look in your area where you would move the MH.  Then look through out Texas for one you can move onto your land, MH park, or someone else's land.  This is why it cost me 6,000 to move, because once I found where I was moving it to here in Midland I had it moved from Keller.  If the price for the MH is right it is worth moving.

@Carey Edmund  I live in Midland.  I bought two mobile homes in the last 9 months.  The first on is still not ready and will probably be another month or two.  The 2nd one I bought in Nov and it will be ready by the end of this month.  I took a lot more time to buy the 2nd one and got a really nice 18 by 76.  I bought it in Keller which is north of Ft Worth.  It was 12,000 and cost 6,000 to move.  My advice is to look all over Texas and be patient to find a really nice one at a low price.  Good luck.

This is not on the exact subject but the cost of moving a mobile home to rent out is that an expense or to be added to the basis of the mobile home to be depreciated over 28.5 years.  Sorry for not being on subject I have not figured out where to go to start a question and you people seem to know something about mobile homes

@Frank Caputo  I just got finished reading "Rich Dad Advisors: ABCs of Real Estate Investing" By Ken McElroy.  It the book it shows you how to evaluate property.  His number and projects are big, but the concepts would be the same.  Get the book from Library or buy it.  It would be worth your time to read it.  It is also on Audible.com.  Good luck