All Forum Posts by: Mark Gruetzmacher

I would read up on Seller Financing.  With Dodd Frank and the Safe Act it makes owner financing illegal to do much anymore with very few options.  

Welcome to the site.  It's a great place to learn a lot as well.  It's good to have another local person interested in real estate.  Like Jae said the 1st meetup is the 21st. Swing on by if you around.

I have never heard of that before.  Maybe they have something but if they do it is news to me.

Be careful with seller finance as it is not legal like it used to be.  With Dodd Frank and the Safe act they put a stop to it.

I might be able to make that as well. Not looking to talk about anything specific, just nice to meet like minded people.

Wow, that is an old one.  That's a tough call about renting it.  Because of the age and the very low rent price it might be too much hassle but maybe not.  The new furnace is a good thing.  You could rent it for the time being and if it gets trashed later you could always tear it down then.  You could gut it out and use it for storage also if the roof is solid.  What is the quality of the duplex?  Maybe try for $300 rent for the mobile home.  

As for the cat urine smell.  Check the floor for any spots that have swelled real bad, sand them down even with the floor.  Then go to your local home depot, Lowes, Menards and buy some floor sealer.  Don't buy Kilz or the like, they don't cut it for urine.  Look for Zinsser B-I-N White Shellac Base Primer or Zinsser B-I-N Advanced Synthetic Shellac.  They are pricey at $40/gal and $34/gal here at my menards.  I have used both and they both work great.  The first one is Shellac based and the 2nd is a synthetic version.  I have sprayed the White Shellac version and it needs denatured alcohol for clean up.  The synthetic I rolled on and just tossed the rollers.  I have used them on both cat and dog urine and it seals the floors very good.  Also check the walls for the urine as well.

Hope that helps.  Good luck.   

@Matthew Cauble  Can you provide a little more information?  Depending on the year of the mobile home, most banks won't lend any money on mobile homes unless they are newer.

@Jae Cunningham It would be nice if there was a meetup here in Rapid City.  I would be up for it.

@Mahonri Bussey  If you do a search here on BP then there is tons of information.  As for mobile homes, your thinking  is correct but there are a lot of variables that go along with it also.  First and foremost I would say you have to make sure the park the home is located in is ok with you renting the home out.  Most parks are not too keen on the idea so that is your first hurdle. 

I agree with everyone else.  Does not sound like it is anything you should even consider at all.