All Forum Posts by: Rocky V.

I invest in M/Hs with land, no parks yet. 

http://www.lonestarlandlaw.com/

No talk of foreclosure.  Mortgagee remains happy as back payments were caught up and payments are now on autopay.  I guess this particular mortgagor had other debt that they can not handle and are now contemplating bankruptcy.

Thanks for the response @Account Closed .  I guess I will need to try and payoff this home before they file.

I have never been nor do I plan to go to a gurus seminar. I use land trust for anonymity purposes in which the beneficiary is a series LLC. I would have to agree to disagree with you on this matter.

Rocky

That's called FREEDOM!  Power to choose whatever you want.  I personally reinvest, vacation and spend a lot of time with family/friends.

The mortgagor of one of my "sub2" deals asked me if I would be effected if he/she files bankruptcy.  Currently home is deeded to a land trust.  I own several "sub2" homes and this has never come up.  Has anyone experienced this?

I would also recommend going with the shower wall board for a quick/non-expensive fix.  If you have the budget and are going to keep this rental for many more years would recommend tiling all the way up to ceiling.

Yes, within the past 6 months I have purchased 3 properties.  No complaints from me.

Agree with @Shawn Mcenteer on this one.  Whoever told you that they are 1" oak needs to be fired unless for some odd reason they did put 1" oak which is  unlikely.  I would strongly suggest repairing floor and sanding/refinishing entire surface.  Here is a pic of a rental in which previous landlord painted floors for some reason.  We refinished and stained.  They are holding up quite well for a home built in the 50s.

I 100% agree with @David J. .  I receive many emails from them and the numbers just do not work for me as I am looking for buy/rehab/retail deals.  With that said there are investors buying up their properties and I believe if your looking to buy/rent you may consider some of their deals.