All Forum Posts by: Ronald Hunt

I used to get listings from My friendly escrow/title officer. They would ask the perimeters & send a pdf list, cd & even labels. My return was 10-20% from those lists.
They (at one time) were free. I'm not sure if they are anymore.

For example -
Depending upon what the mailer is for, I would ask for a 2 mile radius around a recent sold home w/ the same details (3b/2b) that haven't refinanced in 10-20yrs (Lorne holds didn't change). Those were usually the leads for people that wanted to sell, refinance or buy a new home.

Hello Kathleen, you mentioned something interesting that caught my attention. I wanted to know what makes a person who has not refi'd in 10-20 yrs a good lead for someone who can potentially sell? I'm wracking my brain trying to figure it out and interested to know.

0 Votes

Hello BP,

My primary focus at the moment are finding "subject to" deals, as well as land contracts. Looking for suggestions of a good mailing list to use for these deals and websites of where I can find them.

Thank you.

0 Votes

Originally posted by @Rachel H.:

Congrats on finding your first potential mobile home deal @Ronald Hunt. Numbers are only one side of the story. Finding a neighborhood where you feel comfortable working with clientele that fit your personality is an ingredient to success for any type of real estate investing endeavor. Best of luck!

Thank you Rachel, that is GREAT feedback and I appreciate it as that was actually one concern of mine as well. Something to keep in mind for sure.

1 Vote

Originally posted by @Jena Liberty:

Hi I'm certainly no expert but have been doing a lot of reading on Mobile homes. The rent is too high because that's almost a house payment or apartment rent in many areas. You may have trouble finding and keeping renters at that rate.

Thank you for your feedback Jena.

0 Votes

Originally posted by @Craig Carmichael:

950-1000 seems rather high. What area is it in?

In the Westfield area.

0 Votes

Originally posted by @Thomas S.:

Fee to rent ratio is too high, after expenses, which are high on mobile homes, there will be not enough profit, if any, to warrant the effort. Better to finance a sale than hold as a rental. Only risk is Frank Dodd regs.

Thanks Greg; just so I understand, can you explain how you concluded the fee to rent ratio to be too high and how it would leave me w/little to no profit? After subtracting the expenses of $480 from a rental rate of $950, I just see the $520 net/month. Can you go in detail what I'm missing here?

0 Votes

Originally posted by @Jassem A.:

480 is a lot of money a month for someone that would want to live at a mobile home park. I'd verify the desirability of the park. There may already be lots of competition from owners that are also willing to finance for a long term and at a low rate.

Thank you Jassem, have you invested in any mobile homes here in Indy? If so, on average what are the cost that you typically see for a mobile home in a park?

0 Votes

It is in the Westfield area.

0 Votes

Hey BP,

I'm an Indianapolis Investor and I have an opportunity to possibly buy a mobile home for $5,500. If I proceed with this deal, it will be my first mobile home purchase to use as a rental unit. My agent and I are researching the numbers to confirm but word has it that the rental rates in this area range from $950-$1000/per month. The monthly expenses for having it in the park are $480.

I'd love to hear what are common concerns investors have considered when purchasing a mobile home and if this sounds like a potential great deal as I believe it is.

Interested to receive feedback from investors who have experience with mobile home investing here in Indy.

Thanks

0 Votes

Hello BP fam!

I wanted to create a forum to hear from you on what are some of your favorite creative financing techniques?

Feel free to share!

0 Votes

All Forum Posts by: Ronald Hunt

Ronald Hunt has started 30 posts and replied 106 times.

Post: 2nd Month Direct Mail (LA County, CA). No response to mo 1 postca

Post: Mailing Lists

Post: Pros & Cons

Post: Pros & Cons

Post: Pros & Cons

Post: Pros & Cons

Post: Pros & Cons

Post: Pros & Cons

Post: Pros & Cons

Post: Creative Financing 2