All Forum Posts by: Thomas Morgan

Thanks Joel Owens I saw that and going to reach out to Jay tomorrow.

We operate two large trailer parks that are mostly space rentals. However about 60% of the tenant owned homes are pre-HUD or pre 1976 make and therefore can not be moved. Most of the park owned homes are pre 1976 as well. We have opportunities to buy these trailers all the time. Rates of returns are some of best in biz if you are willing to put up with repairs and low quality tenants. Anybody have any tips or strategies relating to these older trailers? I.e remodeling, rehab, Lonnie deals, owner carry, disposal, etc Seems like there is a large opportunity in this space for buying parks with older park owned homes or buying bulk or single old trailers even without dirt.

Any one doing or have done ground lease NNN development? I have brokered a bunch of NNN with improvements and several ground lease deals and even a leasehold Fed Ex. Just worked on the development of an Arby's remodel to suit as well. Want to move in direction of ground lease development and looking for tips or to network.

Go Green!

Have a two unit residential that would be an OK rental while the market is appreciating. A FHA 203k rehab loan is perfect for it but one unit has to be owner occupied to qualify. Any other similar govt loans or other products with 3% down payment?

I would think Canada has a county/municipal property department like the states? Call the property tax authority and ask them if owner data is public record and then get a spreadsheet export of properties that meet your criteria. There are thousands of posts here on BP about it. While most posts are US related I am sure you can transfer it over. LoopNet has comps and you could join the MLS. Why not use a realtor to get comps? If you have some intent of maybe using them in the future to buy or sell they will most likely give you a comp list for free.

In most states LLCs take about ten minutes to set up online directly on the states website for under $50. Then a five minute annual filing with a nominal fee. Income/expenses pass through to you on your personal tax return I think the benefits of liability protection and privacy outweigh the little bit of paperwork, small fees and an extra tax return. Not sure why you would be adverse to setting one up? In most cases you do not need an attorney to set it up nor do you have to use a third party provider who charges $500. RIP OFF!

Ron Averill I am wondering if you even bring it to people's attention? Have it in the lease but don't point it out. A lot of times things we worry about are not even on other peoples radar and the moment we point it out it becomes their concern as well. Less is more. Loose lips sink ships. Disclose where required but don't over sell.

Welcome, fellow Coloradoan! Real Estate is a long term game so stick with it. Try not to get burned out after a few months.

Don't think it would be an issue. Maybe a selling point of "hey look how safe this house is compared to others". Of course the system has to be installed and working correctly. I have seen several leases that have a radon disclosure in them. I think you could put in same section as smoke alarms and CO2. A house I built had a radon system and the contractor had a big section about radon and underground water (unrelated). Of course, check with your attorney.