All Forum Posts by: Ryan Sajdera

@Steve Hall

Sorry, I don't think I was very clear in his role as a partner. He's going to be an equity partner on a deal. He's bringing the majority of the down payment for the property.  I'm not looking for a secretary, he's going to be a key player in acquiring the property.  

Hey BP!

I have a partner that wants to invest in real estate with us. He is interested in being more of a silent partner in the sense that he wants us to work the fine details of the deal, set up the appointments, closing, etc. He will be investing from a distance. What types of partnership would you recommend we set up for this deal? Joint venture, Limited Partnership, etc? Can anyone give some feedback about what they've done as well as the drawbacks and benefits? Thanks!  

*As a side note, we have not partnered with anyone before, all of our deals were done on our own. Any input is appreciated!

Ryan

Hey Bram,

Where are you looking in Alabama?

I will do some research into the programs and see what i can find out! Thank you @John Jacobus!

@Micki M. I will keep you updated with what we find out! There is definitely a high demand for nice, affordable living here in AL, and I think that people really want a clean and safe place to live and are willing to pay just a bit more to have it and not have trashy junk everywhere or rusted homes. 

@John Jacobus, Thanks for the response! Can you elaborate a little bit more on the CASH program? There are quite a few mobile home dealers in the area. Who should I talk to about that? 

Alina, we thought about buying the homes in bulk, but we also thought it might be a better investment to just own the land. Not sure how many we could really get in “bulk”. Is there a place that sells them in bulk other than the manufacturer? Craigslist is pretty slow here. Lol.  

The ideal situation is making a park that is very updated. It is in a very desirable school district and land values are increasing rapidly. I don’t doubt that you could get about 250 for lot rent in that area, but what i don’t really want is a bunch of old trailers hanging out in the park.  We have a vision of a very clean, updated park that gives off a bright, safe vibe without rusty roofs and rusted siding. 

Would it be more cost effective to develop all lots at once, or just maybe 15 at a time?  Any thoughts appreciated!

 Haha Joe! You are the reason I log onto BP every day

@Alina Trigub

Yes, getting trailers on in my opinion is going to be the most costly part. The county has already approved the site for 52 mobile home lots as it is not in the city limits. Thanks for the link.

@Andrew Angerer

Yes, we are looking at the costs and I think the biggest concern is trying to get people into the park right away to start making the money back. Wondering if MH Manufacturers would be interested in putting their homes on the park to sell them and we would just take lot rent. Would love to hear from some developers! Otherwise i foresee it being pretty slow growth.