All Forum Posts by: Thomas Hundtoft

What say you?  What situation has a renter added value to your property?  

@Jasmine H. 

Thomas

If anyone has an interest in how inflation will help the people with cheap money loans, google inflation induced debt destruction.  George Gammon had a recent podcast on it.  It is essentially using a 30 year mortgage to "short" the dollar.  Interesting concept.

There have been a lot of predictions of the looming crisis.  My prediction is that there are going to be a lot of loan modifications to help bail out the borrowers.  There will be a lot of second mortgages.  Just a guess though.  I have the unpopular belief that inflation is driving the housing market.  The government is counting on inflation to pay back the cheap interest loans they are taking to bank roll the economy.  When there is too much money supply, they will raise taxes to correct.  

Thomas

Same here.  No Covid related rent remittance issues.  We'll see what happens when the PPP, Cares Act, Etc. runs out.

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@Nathan Gesner that is awesome.  I have been looking in Gillette, Casper, and all the small towns up there that may have a property manager in town:)  I will be in Casper next week looking.  Has Covid created any rent remittance issues for you in the Wyoming market?  I'm looking at a 65 unit MHP in WY that has several units in it with late rent and ineffective management.  I'm not sure if it is Covid related.  Seems like it was like that before Wuhan virus.

Thanks,

Thomas

Howdy All,  It has been a while since I have posted.  I am in the process of buying a small town...or so it seems.  I am now under contract for a commercial building and a duplex.  The commercial building is a 4 unit combo that has two commercial spaces and two residences.  The duplex is on the lower end of the spectrum and it is decent.  I made an extremely low offer and it was accepted.  With this deal, I will be at a dozen doors. Half of these doors are in this small town.  I feel that the preparation and gathering of knowledge has been snowballing my opportunities.  I made a comment to my realtor friend about looking for a MHP to invest in.  Turns out the realtor has a family member looking to sell a small 5 unit park that is lot rent only with no PHOs (think training wheels for me)in another Western Colorado Town. Everything you hear about building a relationship...it's true.  Get to know the people you are working with and do a little bit of self promotion on what you are working on or looking for.  I wouldn't say I am a huge success, but it seems to be working out. Each deal brings a little more cash flow.   I listen to the podcast, read the books and try to tune into Paul Moore on Saturdays.  Motivation and taking action will get you a long way in life.  I have met some interesting people through bigger pockets.  It is good to see that people are jumping into this and taking action in all aspects of their life.  

Thomas Hundtoft

@Amanda Tell us about your experience.  Where in Denver did you buy?  What are the financials?  Are you having any problems collecting rents or renting out units due to Covid?

Thomas Hundtoft

$60-$80 per square foot is a good estimate.

Private money or Hard money are a solution.  Tough going at the moment.