All Forum Posts by: Samuel Coronado
Samuel Coronado has started 27 posts and replied 296 times.
Post: DSCR Loan on a Manufactured Home
- Investor
- Huntsville, AL
- Posts 300
- Votes 173
Quote from @Upen Patel:
@Samuel Coronado @Vidhi Amin @Dayne Allen
DSCR (long term and short term) is available for a Manufactured home.
What are your terms?
Post: Analysis Paralysis Keeping Me Back
- Investor
- Huntsville, AL
- Posts 300
- Votes 173
Quote from @Max Gichtin:
Did you end up passing on this deal ?
I did pass on this one and regret doing passing on it haha
Post: Investing in different cities.
- Investor
- Huntsville, AL
- Posts 300
- Votes 173
Quote from @Lindsay Davis:
Quote from @Michael S.:
@Emmanuel Sanchez - we don't invest in either location for the following reasons:
Decatur - slowest growing area in North Alabama over the past 10 years in my humble opinion. Zero appreciation potential in the immediate present - if you invest there, must be a home run cash flow play. Cash flow should be obtainable in Decatur, but you'll need to be low B / high C area.
Meridianville/Hazel Green - overpriced. No industry growth in that direction. Zero appreciation potential at current prices obviously. New builds won't cash flow without at least 30 to 40 percent down.
Just my opinion on the current situation.
Be careful who's opinion you take in this regard - I have nothing to sell you.
@Michael S.,
Appreciate your counterpoints. There are definitely still supply/demand imbalances in quite a few Sunbelt markets at the moment, and the Huntsville area is no exception.
Single-family and multifamily new deliveries peaked in Q2 2023, so there’s still a bunch of new inventory waiting to be absorbed—hence the negative rent growth and appreciation some folks are seeing right now.
In my view, what’s interesting about places like Decatur and Meridianville is not where they are now, but where they’ll be in a decade.
The Huntsville metro area is constrained by mountainous geography to the east (beginning with Monte Sano State Park and beyond), so the natural path of development and progress is west towards Wheeler Lake and north towards Meridianville and Hazel Green.
If the Huntsville metro area continues to match the pace of demographic growth it’s seen since the 1990s, these suburbs could, in my humble opinion, look very different down the line.
I would avoid Decatur as much as humanly possible. The demographic and political climate is similar to Detroit in 2010. It's not as business friendly as anywhere else around north Alabama. Takes almost as long to evict someone from there as it would in Birmingham.
Post: DSCR Loan on a Manufactured Home
- Investor
- Huntsville, AL
- Posts 300
- Votes 173
Quote from @Dayne Allen:
@Samuel Coronado ever got one of these done?
No. Every single one that responded here flaked or ghosted me, so don't bother trying these guys haha
Post: DSCR Loan on a Manufactured Home
- Investor
- Huntsville, AL
- Posts 300
- Votes 173
Quote from @Jake Yuskaitis:
little late on this one but we can do manufactured home for up to 80% LTV
80% of value or 80% of purchase? Because of lot of lenders tell me LTV and actually mean LTP.
Post: Building a Networking
- Investor
- Huntsville, AL
- Posts 300
- Votes 173
Quote from @Michael S.:
@Michael Ewers @Samuel Coronado
What has been your experience with Deal Maker - Huntsville? Have you actually sourced any deals from this group, or is like the other facebook groups in this area where it is basically agents putting up their MLS listings and random individuals peddling wholesale deals that are not even worth considering?
The main guy behind Deal Maker Huntsville is a proven operator and someone I've known since about 2023. I don't want to put too much of his business out there, but he is a real investor who is doing projects all over north Alabama.
The general agenda of the last meeting was this:
Networking for an hour
Organizers came up to thank sponsors (obligatory local real estate agent and private lender-types)- roughly 15 minutes
Guest speaker Sarah Taggert (local eviction attorney) for about an hour.
Free book giveaway.
Then more networking until they shut the place down.
Total time was about 3 hours officially I think. pre and post-meeting was longer.
----
There wasn't any advertising of specific properties. Lots of mixing of people, ideas, and professions. I didn't meet a single wholesaler there. haha.
Post: Anyone sell tradelines?
- Investor
- Huntsville, AL
- Posts 300
- Votes 173
Quote from @Kerry Noble Jr:
Quote from @Jay Hinrichs:
Quote from @Kerry Noble Jr:
Does anyone run a tradeline business? I used to have one of my credit cards on file with a smaller tradeline company........until the owner got greedy with what she wanted to pay me for my card.......I would love to get my tradelines back out there and generate some side income....just looking for more tips on where to market and network with indviduals that need tradelines.......any info is appreciated.
OK Kerry what is this .. how does it work how do you make money doing this.. any help would be appreciated.. one area of RE and finance I have no clue about.
Yes sir! In its simplest form, I basically sell my authorized user spots on my credit cards.
currently they're listed through a couple tradeline brokerages. And the brokerages send me people to add. They have the customer base.
What brokerages do you use?
Post: Manufactured Housing reliability - Amish Built Cabins
- Investor
- Huntsville, AL
- Posts 300
- Votes 173
They do not look like they are worth the price.
Post: Anyone here doing Residential Assisted Living?
- Investor
- Huntsville, AL
- Posts 300
- Votes 173
Post: Anyone here doing Residential Assisted Living?
- Investor
- Huntsville, AL
- Posts 300
- Votes 173
I'm also very curious about this. I have a 5 bedroom that won't cashflow, but at the same time I don't want to give it up when I move. I've looked at Padsplit at $800/room and also RAL. Might be able to contract the RAL piece out and just be the landlord instead of the operator.