All Forum Posts by: Leslie A.
Leslie A. has started 22 posts and replied 455 times.
Post: It may not be a popular bragging point but it is needed
- Real Estate Investor
- Houston, TX
- Posts 499
- Votes 206
@Logan M.
That’s a wonderful point. Not to mention increasing the value of your property
Post: One HUGE opportunity in Manufactured Home Communities POHs
- Real Estate Investor
- Houston, TX
- Posts 499
- Votes 206
@Logan M.
Agree. There is more than one way to invest. I did an even “Lower” class of rentals and felt it was well worth my time and investment
Post: Manufactured/Mobile Home Chattel Lending
- Real Estate Investor
- Houston, TX
- Posts 499
- Votes 206
@Crystal Schmitz yes. The passage of the Dodd Frank Act and the SAFE Act did drive out a lot of owner financing that was going on. In essence, lending had to be conducted as a Mortgage, not chattel.
I’ve been out of touch on the laws recently, so don’t know the current status of the law.
I know there’s a guy named John Fedro who had (has-don’t know) a course for how to provide owner financing and I believe had a way to do it legally. You might do a search for his posts.
Post: My Rules of Rent Collection for Mobile Home Parks
- Real Estate Investor
- Houston, TX
- Posts 499
- Votes 206
@Logan M.
And I bet it has tons more impact when delivered that way They know you mean business
Post: Question about renting out an Rv.
- Real Estate Investor
- Houston, TX
- Posts 499
- Votes 206
Quote from @Samuel Coronado:
Quote from @Leslie A.:
I do this. I have seven rented in parks right now. I do have a partner that does all the repairs.
I get an average profit of $400 a month for mine. But so far we've paid less than $5,000 for each of ours. We charge weekly (to get more rent) with 3 month or longer leases.
I am getting into this now as a way to expand my mobile home park. I'd love to talk.
Sure. Feel free to message
Post: Mortgages for financing mobile homes.
- Real Estate Investor
- Houston, TX
- Posts 499
- Votes 206
@Dan Sager you could check with 21st and Vanderbilt. Both finance mobile homes
Post: Why isn't everyone buying and renting mobile homes? what am I missing?
- Real Estate Investor
- Houston, TX
- Posts 499
- Votes 206
@Michael Temple. Yes. I’m really not aware how people are currently getting around Dodd Frank. Last time I was heavily involved here in that discussion, almost everyone had abandoned Lonnie’s model.
I mentioned John to point out that his model is based on Lonnie’s, but the profits are much higher. For example, Lonnie would finance for 2 or 3 years. Fedro stretches it out to more like 10. If memory serves me.
Post: Why isn't everyone buying and renting mobile homes? what am I missing?
- Real Estate Investor
- Houston, TX
- Posts 499
- Votes 206
@Michael Temple. Thank you for the info on Dodd Frank.
some people have taken Lonnie’s strategy and made the profits exponentially larger. I’m thinking of John Fedro, who’s posted a lot of info here.
Post: Mobile Home Friendly Lenders in Texas
- Real Estate Investor
- Houston, TX
- Posts 499
- Votes 206
Vanderbilt and 21st Century finance mobiles. Maybe they can help
Post: New Landlord here! How is everyone collecting rent today in 2021?
- Real Estate Investor
- Houston, TX
- Posts 499
- Votes 206
@Jeff Cua. This isn’t high tech, but my bank was close to my rentals, so I gave my renters a stack of deposit slips all filled out and they deposited their rent at my bank.