All Forum Posts by: Michael Fortier

@Jonna Weber Yeah I have heard others say that as well. I should probably start figuring it in in the future. What about 10% each for Capex and Vacancy? Does that sound right as well?

Thanks

Hello Everyone.

I am looking for a buy my first property and keep it for a long term buy and hold investment. Any help would be greatly appreciated. Attached are screenshots of the Rental Calculator. I haven't figured in Management because I plan on doing it myself, but I have figured in the Repairs, Capex and Vacancy at 10% which i think will be high, I figured better high than low right? I figured future assumptions low but I am not so much concerned with them, I am more interested in cash flow. Hopefully this is enough info to get some good feedback ideas and comments.

Thanks Everyone

 LOL and on Valentines day none the less.

I am fairly new looking to get started to so I will look forward to seeing everyones response to your post. Welcome to BP

Howdy Brian

Welcome to BP.

You could use paddmapper.com , apartments.com or HotPads.com to compare rents in the area

Thanks for the replies guys. 

@Matt G. Thanks for the websites. There is a lot there. They have already answered a few of my questions. I will keep reading and researching on them.

Howdy everyone.

I am very interested in purchasing mobile homes for cash and owner financing them to buyers. But I have a few questions first.

How does a mobile home sale work? Is it more like a sale of a car or like a traditional house sale? 

What documents do I need to do a cash purchase? or the sale?

Is there an amount of sales you can make before you need a license? Do I need to become a dealer at some point?

Do you need to have a previous agreement with the park first or will they just let you keep it there as long as you continue paying lot rent?

Any other advice would be greatly appreciated. 

@Charlie Fitzgerald That website is all about DWI. I don't see anything about LLCs on it.

In the future you should take pictures or videos when you walk through with the landlord before you move in and when you leave. That way you have plenty of evidence should you need it for something like this.

I have yet to do a deal, but I would definitely not do it without positive cash flow