All Forum Posts by: Rudy Curtler

CREXi.com is another good source to consider.  It's been great for locating commercial properties to buy.  As silly as it may sound, don't overlook Craigslist...I found a park that I bought that way and @Jefferson Lilly mentioned it as a source on his most recent podcast w Brandon

Hi everyone!  

Just wanted to start a discussion to see what real estate niche has provided the best $/hr spent of your time as an investor.  How did you find it and how are you measuring that return on your time?  I've been doing this for 13+ years and haven't really found a truly 'passive' niche yet.  

Thanks for any insight!

@Mashika Johnson...lots of times the movers will put the hitches under the front of the home before they put the skirting around.  They know what it's like to try to get a home ready for moving without a hitch...

Hi @Mashika Johnson.  The simple answer to your question is 'yes, it CAN be done.'  The bigger question that might need to be answered is 'SHOULD it be done?'  Some follow up questions that pop into my head as I analyze this question:  

1.  How old (approx) are the homes you are looking to move?  (the older they are, the more risk of damaging the homes, regardless of how far they are moving)

2.  Do they all have axel and wheel carriages under them?  (not all carriages fit all mobile homes; older tires may have deflated, older axels might have rusted and are difficult/impossible to free up)

3.  To @Season Price's question, do you see hitches for all trailers?  (can't move them without the hitch)

4.  Do the pads/areas where you plan to move them to all have sufficient concrete/gravel/piers for anchoring/etc? (how much will each new pad cost to prep so you can anchor the homes sufficiently?)

5.  Are utilities run to all 7 new pad areas?  If not, have you done a cost analysis for achieving this outcome?

5.  What's the expected financial benefit you hope to derive by going through this effort if the answer is yes to all of questions 1-5? 

6.  Is it financially worth it to do it if the answer is no to any or all of 1-5?

Hope that helps.

Rudy

@Juan Deshon  Good thinking.  We are also actively looking for investors looking for 1031 exchanges.  This syndication would be a good, safe harbor in turbulent times and for someone not wanting to actively manage a property right now (or ever for that matter).  Rudy

Hi everyone. I have been in the REI space for 13+ years, have invested in 4 Mobile Home Parks (sold one) and am now syndicating our first MHP and looking to close on 5/15. We know it's a strong deal with solid upside, but we are seeing that finding investors is difficult right now. Several of our investors who had verbally committed to our deal 5-6 weeks ago are in a different financial position due to the changes in the macro environment. We are still bullish on this deal and looking to move forward. Any suggestions on best places to connect with others? How to approach investors? Etc?

Thanks for any insight on what has been working for you.

Regards,

Rudy

@Ethan Johnson One thing to consider is that 'billed back' utilities can be a real pain in the rear.  Not saying it can't be done, just that it can be painful.  We prefer situations where the utilities are billed directly to the tenant and the utility company handles all that.  Something to consider.  Message me if you are still looking at this deal.  We are syndicating one right now and open to discussing the process.

Regards,

Rudy

@Brian Mitchell, I realize this is an old post, but replying nonetheless.  I am currently working on my 5th MHP deal.  We are syndicating this one with funding still open (though we are getting close).  Open to connecting with other like-minded investors to discuss more.

Regards,

Rudy

@Jordan Murrell...as others have mentioned, alot depends on the financials of each deal you are seeing and your risk tolerance.  We are currently syndicating a MHP/Laundromat deal in South Dakota.  The numbers still work and, so far, rural areas have been significantly less impacted than NYC, New Orleans, etc.  Doesn't mean they won't get hit, but it's largely been a non-factor.  What the MSM hasn't mentioned is that there are over 1400 counties in the United States that haven't had one confirmed COVID 19 case yet (of course, that could be due to limited availability of the tests).  Anyway, if you'd like to learn how we are looking at it, how our deal is structured, etc then message me.

Regards,

Rudy 

@Anthony Ciafre...I'd be happy to talk with you about a syndication we are doing currently.  Our expected close date is 5/15.  $25k min.  It's a mobile home park w laundromat in South Dakota.  We are very familiar with the market and like what we have seen.  Happy to discuss with you or others who might have an interest.

Rudy