All Forum Posts by: Nathan McLeod

Hello friends,

I have a deal coming down the pipeline, but it is a manufactured home. On paper it seems like a good deal (i.e. all numbers work out such that I will yield a 20%+ profit). The home is on 1/4 acre, so it is not in a park. It is also in the county (not city). However, it is not on a foundation. 

Have any of you flipped a manufactured home in North Idaho / Eastern Washington with success? My main areas of concern are:

1. House sitting on the MLS for a long time

2. Buyers not being able to get a loan on the house. 

Any insight would be greatly appreciated!

Jeff, did you keep track of your carrying costs for the 3 months that you owned the home? Realtor fees? Insurance fees? Interest (if your cash was thru a private money lender)? If so, can you please share. 

Bigger Pockets Team!

I need some advise from a seasoned REI.

I have discovered through a family friend that there is a lady local to me that has a large portfolio of rental properties. She is elderly, and she is looking to retire in the near future. Naturally, I am interested in obtaining some (or all) of these properties to help grow my portfolio. 

Here is my problem!

I am a young man, and she is an 80 year old lady. I fear that when I approach her, I will come across as an arrogant, undeserving millennial. I want to handle this with tact, and the last thing I want to do is be offensive. 

Have any of you had a situation like this? How did you approach the conversation? (any failures in this department would be educational as well) 

Thanks

I had a conversation with STCU in late 2018, and they offered 90% (this was on a primary residence, so it may be different for you) 

I would recommend checking in with them. I had a bad customer service experience with the Spokane Valley branch, so I would suggest going to the Downtown branch. 

Hope that helps

The title of this meeting says "Coeur d' Alene", but the location says "Los Angeles"

I just want to verify. Is this the REI meeting in CDA in the Keller Williams building?

Thanks and let me know

@Melissa Murphy

Agreed.

@Jacob Evans

Private message me, and we can start networking

Thanks

Nathan McLeod

Hello Bigger Pockets family!

I am a new REI who lives in Post Falls, Idaho. I have experience fixing and flipping the homes that I have owned, but now I am looking to branch out and flip homes that are not my primary residence. I have gain good knowledge listening to the Bigger Pockets Podcast, and now I am excited to be a part of the BP social environment.

I cannot wait to network with all of you. Any tips or tricks for a newbie would be greatly appreciated.