All Forum Posts by: Sherrell Echols

I have just began, I have tried to work this business the best I can with knowledge gained from books, seminars and BP. It seems once I find property, I hit a roadblock. I locate lenders and then nothing. I need someone to help me put together my first deal. I DONT want you to do it for me just help guide me.

A seller with a "portfolio of properties" want to sell. It's in Florida but it's essentially a trailer park. On paper, it looks like 3 single family homes split up on 10 acres; 3+ acres each parcel.

Together with the land itself it's valued around 600K, he says. 

But with the 11+ mobile homes on all the parcels (100% occupied); tax assessor has the other mobile homes looking like "improvements".

I've never seen that before.

The rents from the mobile are 650-800 each door.

So it's grosses around 90K yearly in cash flow. 

There is a stipulation with the county that says, "no home shall be added once removed." (Basically)

Does this sound like a good deal?

So, I think the county just doesn't want a trailer park there, because it's so close to a highway and a new hospital and other shopping centers.  

Will there be any upcoming meeting this year @Tim Hall