All Forum Posts by: Omar T Sharaf

@Rashad K. Such an Inspiring post!! I am in the education phase of my investing career and BRRRR strategy is the path I am eager to follow.

What would you say was most helpful or strategy in building your team?

Thanks for the advice Rachel. Unfortunately this mobile home I looked at requires to much structural work. Swing and a miss. 

-Omar

I am going to take this under consideration. I feel this deal might require more structural, but again hard to tell because I cant get in the property! 

Thanks again Mark!

 Thanks so much for that insight Mark. Due to corona Virus I cant get into the property. But I did go and view the outside today and it did not look to good. Rotted wood on roof, "I think this is siding" and is in dire need of landscaping. 

When analyzing a mobile home, what condition do you say this is not worth it. The property was assessed at 21k but he is asking 39k. For the work to be done it appears he is asking a bit much. Also this area is a low income neighborhood. There are brick homes in this neighborhood and mobile homes. 

Given that mobile homes only depreciate, what are the incentives for this investment besides cash flow?

When you did your rehabs was it ever structural or just cosmetics?

Thanks for you response Aaron. The property comes with the land. 

Hello,

I'm looking at my first property to buy, it just went on the market last night. It is a 2 bed 1 bath manufactured home. Asking price is 39,000. Year is 1978. I ran numbers conservatively on it and it works. I can get 800 a month in rent. I will be financing this with 20 percent down. Have not walked the property yet, but my realtor is working with the seller to let me walk it.

Please any advice from experienced manufacture homs investors. What should I be focused on when it comes to these types of homes. I understand they do not appreciate. I plan on doing a minor rehab in the property based on video floors need updating a possibly kitchen and bathroom. Is this a good idea to rehab or rent as is current condition. Condition is not unlivable just not modern looks.

Is there anything I left out that I'm not looking at?

Anyone have recommendations on what type of grass seed product I should use. I live in upstate New York, so weather conditions are majority cold.

Hello Trent, Thank you so much for the response. 

So the property is a Single Family home. I was planning on doing the property management myself. I am not yet at the buying stage. 

Was I too early in asking for an investment? 

I have done all my initial investigation, and number crunching with my realtor to conclude this is a deal to chase. 

I was going to propose to give him a percentage between 10-20 of the cash flow received. Does this seem to be a good proposition? 

Also when you get a private investor, do they have to be on the loan with you?

Hello,

I am brand new to real estate investing. I have a buy and hold property that is going to bring positive cash flow.

I reached out to a private investor to get the capital on the intial investment for the property. I have a meeting tommrow.

How do I propose a payback? What's the best methods?

@Jill F. Very well said. 👍