All Forum Posts by: Teri Feeney Styers

@Bruce Woodruff I guess my tongue in cheek sarcasm didn't come through in my post. I totally understand that this person doesn't have a clue about how all this works... I just thought it might be fun to "innocently" engage to make them explain themselves. 

@Keith Daniel Whatley I'm afraid your question is way too broad and not sure what you even mean by flipping titles? You need to type in some key words regarding funding and research the thousands of threads that have already discussed the topic. You should consider looking at the books available on BP too. The info is here - you need to hunt it down. 

@Paul Sandhu aaahhh... so the sender is asking you to divest some of your holdings and is seeking an opportunity to purchase one? I would ask them for a remedy to the "too much" situation... might be fun to pick their brain. 

@Branson Anthony McCarty I'll accept your colleague request and we can chat. 

@Milind Shastri okay - I'll play the game... Do you intend to occupy the vehicle or just use it as an office? Just a couple of notes: I own a 2006 $30,000 motorhome and my insurance is only $400/yr - you put $6000! If you are using it to live and work then it will need to be parked somewhere with access to electricity, water, and sewer dump (at least some of the time). Around here a true RV spot is $500-$600 per month. But we have all those facilities at our home and you might find someone else with a similar setup where you could park cheaper. If you aren't going to live in there you'll still need some potty facilities, a wifi hotspot, a generator to run air conditioning, etc. Your biggest problem might be finding a decent unit that will suffice. The pandemic created a huge demand and they are expensive and in short supply. 

@Shelby LeBlanc so you go to the two neighbors you suspect. You tell them "Gosh, I think someone is going into my house unauthorized. Here is my phone number. I'm adding some additional security measures but if you see something or someone suspicious will you call me please?" If they are the culprits then they are now on notice that you are aware of the intrusions. If they aren't the culprits then they may well help you better protect your property. 

@Stacie Smith the contract to purchase in every state is different. In Colorado there is a section that refers to leases that survive the closing. If that area is n/a or blank there is an indication that there are no leases that survive. However, tenants (even non-paying ones) have certain rights and must be properly notified to vacate by the sellers. If the attorney hasn't done this then it must be done. Don't assume they are just going to go away on their own... 

@Mac T. is that you? So - let's make sure you are talking about a "manufactured home" and not a "modular home". Manufactured will most likely have steel beams underneath and be designed to work with or without a permanent foundation. Assuming it is manufactured, the next question becomes what year was it manufactured and does it have a HUD plate on it? This is a huge factor in how banks will finance the ultimate purchaser. You can google HUD certification on manufactured homes to learn more - but the important date to remember is: June 15, 1976 - built before then is pre-HUD and lending is scarce at best.

@Franky Martinez go with 3 bed / 2 bath. In my area that third bedroom is worth at least $20k more and a second bathroom is worth about $25k more. (Ask an agent to run the numbers for you). The construction cost will most likely be less than the value add. In addition, that configuration will be more popular as a rental unit. If you find that zoning or construction costs don't allow for it, then at least add the second bath (even if it is a powder room). That second toilet is what most people are after... If you are finding costs to build are high, make a smaller but super well designed unit (think storage!). I am currently building an SFR 3/2 house that is under 1000 sq feet.

The first thing you need to get familiar with is HUD vs pre-HUD Homes and how to know the difference. This will be very important when you go to sell the homes and a buyer needs to get a loan.