All Forum Posts by: Stephanie W.

Hey, Brandon, love the new spreadsheet... mine doesn't total, though. Using a Mac, Yosemite. Also, downloading PDF just gives me zeros. Love the concept, though.

Possibly owners have owned for more than 27.5 years and thus their depreciation expense has petered out and are looking for a 1031 exchange.

Hi, Matt! I'll be there! ~Stephanie

I start with a telephone conversation to ascertain their needs to see if they are compatible with mine. They then fill out an application and if they pass income muster of 3x rent, including their HUD stipend, I run full credit check and criminal history. I go visit them at thei current residence then verify their employment history and income. Lastly I sit down with them over coffee and have a conversation. I have declined people because their values and outlook didn't mesh with mine even though their financial situation was acceptable and I've accepted people that I've believed in with questionable past decisions. It doesn't matter if they're Section 8 prospects or not. I have six properties and 8 doors. Two doors are Section 8 approved.

I've had a Section 8 resident for four years now. She's clean as a whistle, works full time at a menial, low paying job, and is never a pest. I would cry if I lost her. You cannot stereotype Section 8 residents any more accurately than classifying all steaks in the same group. It's kind of disheartening to see the disrespectful comments about our more downtrodden members of society. And no, she doesn't have 'awful' credit. I would screen them just as I would screen any other prospective resident. Why wouldn't you?

Count me in, Matt!

Thank you, @Curt Smith and @Bill Neves. Your responses were very helpful! Lonnie does make it sound sooo easy!

If a MHP has rules agains investors buying homes and renting them out, would the same rule apply if the investor bought a home in the park then put a lease option or rent to own contract on it with a new buyer?

I own, free and clear, four rental properties/6 doors, in Roanoke, VA, that I would like to sell as a package. All six doors have long term tenants, are B+ or better neighborhoods, and generate $5425 gross income with less than $400/month total in taxes. All tenants pay their own utilities. Every property is well kept, up to date on cap X, with fewer than 8 total maintenance calls in the past three years. I have never had a vacancy or eviction. I would like to divest of these properties so that I can pay cash for a mobile home park. Assessed value of package is $555,000. Will consider selling for $500k. Please PM me for addresses, details and photographs.