All Forum Posts by: TJ P.

Sorry, I chuckled when I saw that. Comma is off just a bit.

Nice property, though- Keep 'em coming

TJ's anecdote time.

I spent several years in northern NV which is heavily dependent on metals mining. When gold was around 2k/ oz and the massive bonuses were flowing, it was not uncommon to see brand new 60K pickups, rebooted muscle cars and Harley's parked in front of stereotypical single-wides (1970's metal shells, cinder block foundations, etc.). They were called "miner-sexuals" around town  :)

I had a fellow cop friend who epitomizes what BP is about, earn serious coin (bought out 7 years of pension) by renting to these folks. Started with a trailer and worked up to several SFR.

I'll put in my 2¢ regarding customer service. I travel often for my W-2 job and if it leads to an area requiring more investigation on my part regarding TK, I try to visit the operation and view some properties.

I've had one hell of a time lining up visits for a recent trip to MO. I had considered putting out a blast but found someone on short notice that squelched my anger a bit. PM for details.

For those TK providers, please look at your approach to customer service at every level.

A 30K DP could land you a couple of TKs in the Midwest/ South that would give decent cash flow with traditional terms in decent neighborhoods. Talk to a few providers in those areas- It will likely surprise you (it did me).

Related note- I am on the insanely overvalued Left Coast as well. If I'm still around when the market corrects, I plan to utilize my VA benefits and purchase something that will cash flow and has the chance to appreciate. Something for you to consider.

 Did you go with a TK company?

Nice detail, Julie. Keep us posted on your progress.

If one were to take out a loan on their solo 401K- since it can be used for virtually anything, could it not be a down payment or to purchase a property outright (<50K)? Then have 5 years to pay it back. Do you have to state where the $ goes? 

 It's not for everyone, David. As far as CA goes, Bakersfield is on the affordable side but compared to a lot of markets in the South and Midwest...

I'm looking at some TK in B areas in many markets back there and there are plenty to choose from that aren't mobile homes compared to their price equivalents in Bakersfield. 

I'm like the OP, I'm in CA for the $. If I'm still here when the market corrects in a couple of years I hope to purchase then eventually rent out or sell my primary but that will likely be it for investing on the left coast.

Love the details Jeff

Would you mind sharing your financing terms as well?

So are we volunteering @Ginger Walker to try these out?   ;)