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All Forum Posts by: Paul Sofia

Paul Sofia has started 3 posts and replied 322 times.

Post: Mobile home financing in WA

Paul SofiaPosted
  • Lender
  • Charlotte, NC
  • Posts 339
  • Votes 164

Post: Mobile Home Park - How to evaluate

Paul SofiaPosted
  • Lender
  • Charlotte, NC
  • Posts 339
  • Votes 164

My pleasure, Tom.

Post: Non Recourse Construction Loan Commercial Multifamily Dallas OZ

Paul SofiaPosted
  • Lender
  • Charlotte, NC
  • Posts 339
  • Votes 164

Just sent pm

Post: Mobile Home Park - How to evaluate

Paul SofiaPosted
  • Lender
  • Charlotte, NC
  • Posts 339
  • Votes 164

I will tell you right now, it is overpriced.  They are pricing it based on total rents.  The DD manual will definitely help.  I would get educated in this space prior to jumping in.  I know of quite a few that have made the leap with no knowledge of this asset class, only to get stung.  MHP bootcamp is a worthwhile investment.

Post: Prefab homes vs traditional stick-built homes ( in Los Angeles )

Paul SofiaPosted
  • Lender
  • Charlotte, NC
  • Posts 339
  • Votes 164

My pleasure.

Post: Prefab homes vs traditional stick-built homes ( in Los Angeles )

Paul SofiaPosted
  • Lender
  • Charlotte, NC
  • Posts 339
  • Votes 164

@Keisha Hosea, give this  mod dealer a call....

https://downeasthomesnc.com/

If your property was not so far from me, I would quote it.  It's too hard for me to manage a project that far away, though.

Post: Prefab homes vs traditional stick-built homes ( in Los Angeles )

Paul SofiaPosted
  • Lender
  • Charlotte, NC
  • Posts 339
  • Votes 164
Originally posted by @Alvin Uy:
Originally posted by @Paul Sofia:

I have not dealt with the type of homes you are describing but I have been handling modular construction for many years. I can get one completed quicker than that and it appraises the same as a site built.  I most recently had one delivered last Friday, and set on Monday.  If weather allows, I should have everything complete including site work in 30 more days.  I ordered the house 3 weeks ago, mind you. Built better than most of the stick built construction.  My cost will be lower than $85/sf including site work.  Cali much more expensive than the Charlotte region, but I bet you would be better off going the mod route.

The design work that you are speaking of is very popular in the heart of Charlotte but I deal mainly 25 miles out.  Culture is different.

30 days?  That cant happen here because city permit and requirements are pretty strict.  Plus foundation needs to be completely redone new for Protohomes structure requirement. 

Did the mod builder you dealt with do custom design based on your lot or were they predesign selections you had to choose from?

I am the dealer.  I had footers dug and poured and foundation in place the week before.  Are you actually using an existing foundation?  I have never done that with site built or mods.  The majority of the mods I setup are existing plans but we can get custom as well for a nominal fee.  

Post: Prefab homes vs traditional stick-built homes ( in Los Angeles )

Paul SofiaPosted
  • Lender
  • Charlotte, NC
  • Posts 339
  • Votes 164

I can check with one of my factory reps and get back to you next week. [Solicitation removed by Moderators]

Post: Prefab homes vs traditional stick-built homes ( in Los Angeles )

Paul SofiaPosted
  • Lender
  • Charlotte, NC
  • Posts 339
  • Votes 164

I have not dealt with the type of homes you are describing but I have been handling modular construction for many years. I can get one completed quicker than that and it appraises the same as a site built.  I most recently had one delivered last Friday, and set on Monday.  If weather allows, I should have everything complete including site work in 30 more days.  I ordered the house 3 weeks ago, mind you. Built better than most of the stick built construction.  My cost will be lower than $85/sf including site work.  Cali much more expensive than the Charlotte region, but I bet you would be better off going the mod route.

The design work that you are speaking of is very popular in the heart of Charlotte but I deal mainly 25 miles out.  Culture is different.

Post: [Calc Review] Help me analyze this deal

Paul SofiaPosted
  • Lender
  • Charlotte, NC
  • Posts 339
  • Votes 164

@Aline Zamora, I sent via pm.