All Forum Posts by: Mike Reynolds

@Chris Seveney We have done the perc test for the land as we expected this may be an issue but the county has not had a clear answer for what they want for us today until today. We have several Mh that have connected septic tanks that we have had a clearance letter for but the county is saying that the state will deny that and we need to bring it up to 2022 standards which means we can not have shared systems. And since there is no sewer near by that means we need .5 acres per site with new septic systems. This seems a bit absurd. 

Wayco or Waco, Texas? Baylor or not?

 I'm soon to be developing a 200 space RV Park in Eastern Washington and would like to chat about the current development numbers in an area like mine. I'm trying to figure out the numbers on a deal like this. Any help on current development cost or expense ratios that would be wonderful. We would not plan to self manage this so would need to factor all of that in. 

This is going to be a very nice wine themed RV Park over 20 acres. We will build out the first phase of 50 spaces and keep going in 50 space chunks over time. 

Any and all help is appreciated! Thanks 

Hi! I'm new to the forum and getting myself prepared to go down the road to financial freedom via RE! I have one cabin in Northern AZ, and want to learn how to get more properties, slowly.

I'm a W2 person, not looking to quit my job or personally manage properties or flip. I think I'd like a duplex/tri/quad or maybe another STR in the Phx metro area or it could be a LTR.

I listen to A LOT of podcasts and it's a lot to take in. I learn better by exchange with people where I can ask specific questions.

Are there people out there who are willing to mentor newbies for a bit where I could ask questions?

Thank you in advance for your response.

Heather :-)

 Kilgore

I’m laying the groundwork for an RV and casita village right now in east texas 

@Daniel Ryu A mobile home park in Texas came across my desk as well. Would love to have you take a look. Thanks

how much money do i need to become an investor

Good basic idea but it does not work well in practice. If you advertise effectively "free homes" you will attract literally the homeless, who can also not pay lot rent. In addition, in many states you cannot sell homes "as is" under their "habitability" laws. Check with the state and see what condition a home has to be to sell. And you'll want to fix up the best home that's vacant -- the newest one that requires the least work -- and then advertise it for sale at a decent monthly cost (take the lot rent at full market plus maybe $200 per month). You could then take these affluent customers and "downsell" them into the older, worser homes at substantial savings (again based on habitability laws in your state). If you can get a customer to do the renovations for you, it makes them more of a stakeholder and saves you significant cash. 

I am assuming these homes are older than 1990. If they are 1990 or newer you could potentially finance them through 21st Mortgage, and they would cut you a check of at least $10,000 per home.