All Forum Posts by: Logan Swanson

It’s sewer. The plumbing is already in place but both Lots are on the same water meter. That is why I will have to pay the water

This will be my first property. It is a small 1bd/1ba mobile home on .11 ac of land. Based on my market it should rent for 475-500 a month there is also a spot set up on the property to place a camper (travel trailer). Which in my market would rent for 400 (big thing in my market). The camper will cost 5k and I would have to pay water for both tenants. The purchase price of the property is 20k and property taxes are $65 a year. So let’s call it 26k after installation of the camper. All of my calculations say it’s a great deal, but I have never done this before and would like a second opinion. Thanks in advance 

I recently came into some extra money and want to invest in a mobile home park. Everything I see lists cap rates. What is a cap rate and why is it useful? Any information is appreciated.

I have a 700 plus fico score (740 according to Amex app) and make 80k a year, but there isn’t a lender in town who will touch me due to the fact that my income is 100% commission based. I will have been at my job for 1 year next month, and in my field for a year and 5 mos. I have zero experience and a small down payment. How should I go about getting financing without having to wait until I have been at my job for 6 more months? Would I be eligible for hard money?