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All Forum Posts by: Sean Ross

Sean Ross has started 1 posts and replied 132 times.

Post: Mobile Home Investing in Louisiana

Sean RossPosted
  • Posts 137
  • Votes 115

Happy to help on any mobile home or park question you might have!! Suntrust/ Truist has always lended on Mobile Homes and Rvs

Parkimagesolutions.com 

Enjoy Banner Elk, but it is too far for Floridians. That's why cashiers/ glenville will always remain more popular imo!

Post: Should I buy my first rental

Sean RossPosted
  • Posts 137
  • Votes 115

no. But list price is not the final price!

Saw a SFH with 87 windows.

That would be a hard pass from me! 

One lender I work with offers 100% LTV, but the minimum is $10,000,000 for non-owner occupied residential. Not sure the gmails are working within the same idea

Post: Trapped Equity in 3 rentals

Sean RossPosted
  • Posts 137
  • Votes 115

Depends of the lender, but yes they can work as a secondary. The interest is usually variable, as they usually stay on lenders balance sheet. DM me if you want to take a look at the options. I can find out with a little bit more info, minimum  $50K

Post: Trapped Equity in 3 rentals

Sean RossPosted
  • Posts 137
  • Votes 115

Yes, I have portfolio loans and blanket loans that might do the trick. 

Rates are going up though across the board

Post: Purchasing a unit inside a hotel

Sean RossPosted
  • Posts 137
  • Votes 115

Stayed at a few , from non name brand to Hiltons.

They are condos that have a front desk and rent out your room . You supply the furniture usually. It is a good way to receive income. I know of one unit in a ski town where it covered the mortgage with 2 weeks a month, and the days you don't want to ski anyways brought it extra cash.

It is like a permeant management company. 

Doubt they would take no cash down. They could rent it for probably a lot more than 5 to 6%

Yes you are correct on the taxes.

Refinance with what ? What if the market dips ? Doubt it will continue to appreciate enough where your 0% will turn into a refinancable amount . Even a FHA you would need 20% equity

Crazy, wasn't Richfield farms not to long ago ? ha