All Forum Posts by: Xavier Randall

@Daniel Andrews   Why is the real estate selling cost $20k? 6% of list price is only $13,500.

@Daniel Andrews  Great job! What's the address? I have a friend that is now renting in Canton.

@Russell Andrews  I am from Macon and own there. Contact Ben Sapp @ Real Property Management Vesta @ (478) 257-7055. Solid!!!

@Ryan Groene  Thank you for that. I've also been told that you want "NO" or very little "park owned" and the electric and water tapped to the city. What red flags should I look for regarding sewer and utilities as a whole that could end up being costly?

Also...if I find a park with no park owned and the tenants pay all utilities....are my expenses just maintaining common grounds, management fees and property taxes?

@Ryan Groene  @Bukka Levy  I've heard great things about MHU and they actually did a good conf call on financing at different price levels. I've also been looking at MHP's. They are out there. 

Can either of you share your process for analyzing the numbers to determine an offer price?

@Jay Hinrichs  BOOYAH! That's the real truth. I live in SoCal, 1 day saw an ad for an apartment aquisition specialist. You had to pay $99 a month to have access to the office and some online platforms. So...every Saturday i'd drive an hour away for the training sessions and sometimes take a day off my 9-5. Yeah..it promised big $ but getting a deal done was not really happening. BUT...the knowledge I gained was PRICELESS! I learned how to analyze large scale apartment buildings...build relationships with brokers and owners and investors....how to ask the right questions...how to write AGGRESSIVE offers. That lead to me purchasing my 1st 4 unit. Rehabbed it with my own $ and it's very profitable. I will never pay for a mentor again. You have to have the willingness and comprehension level to be able to learn and teach yourself also.

Now I have some credibility and true experience and growing.

Knowledge and information is powerful. From there...i started reaching out to people already where i wanted to be and they would share information with me. Now...I'm talking with different securities attorneys to learn various aspects of operation my own fund.

Being on this site and not putting in the footwork will get you nowhere. Always looking for a mentor will have you looking up 1 day realizing you put $ in someones pocket and that could've bought your 1st property.

What @Joe Villeneuve said. I understand your thought process. If it's a class B area. So if you're getting a lot of inquiries then you shouldn't settle for non-credit worthy tenant that might be a headache later.  It's only been a month. I'm from the Atlanta & South GA area. Where's your property exactly?

@ryan

@Ryan York I've bought a couple of vacant 4 units over the past couple of years. But they were in what I call "Adjacent Spill Over Areas". That's an area next to a HOT area. You get access to the same benefits but for a little less rent but quality living. The problem with sellers who inherited properties is that they can either unrealistic about the value or they have to split the pot with other family members and can't go too low on the price. @Anthony Dooley is giving you some INCREDIBLY good advice. LISTEN TO HIM!! You need to structure the deal so it works in your favor, especially being that your speculating. Find a top property manager in the area an get him to give you an analysis on the market. I use the 1.5% - 2% rule. Meaning your total monthly rent should be 1.5%-2% of the purchase price. Do you have your rehab numbers from an actual contractor? Do you have a proper insurance quote? Most insurance companies will have a different policy while it's vacant then convert when it's an actual rental property ready for occupancy. Are the taxes and all other municipal costs current? Have you pulled title? Will the units be individually metered? How's the plumbing, electrical, roof? I use to asset manage properties in Michigan and everyone of them had a sump pump.

You want this to be successful so don't skimp on the due diligence. You do this one right and it will set the pace for future purchases. I'd love to help anyway I can.

@Ryan York  PM me your email and i'll send you some information of an affiliate for you to consider.

@Janel F. @Chris T. @Seth Hayes ... please PM me your email address. I have an affiliate who may can help. I'll send the parameters.