All Forum Posts by: Account Closed

This is not a good deal. If you can get this to cash flow it will only because you have taken on the job of property manager. Do you want a job or an investment?

If there is a cement shortage because of building to wall, Trump will get permits issues overnight for new cement plants 

How about approaching it from a bit of a different angle? When you moved in almost three years ago they were unable to sell for 270k. The house itself is probably not in any better condition now than three years ago. You need to find out how much property has appreciated in your neighborhood since you moved in. Logically, 270k plus the appreciation would be the MAXIMUM the house would be worth. In reality it should be worth less than that figure. This might be the best way to begin a logical negotiation in a way the owner might be able to relate to.

Increase her pay to $25 and pay in cash and eat the cost. Geez.

With any mobile home park or lot deal you need to look at the ability of the land to continue to produce an income. An empty lot or a lot without a home is a net liability. In these type of investments it's the mobile home that causes the lot to produce income. The lot doesn't know if the trailer that is sitting on it is a 2017 model or a 1967 model. Often the lot rent is the same. Which home will likely produce income for the most years with the least expense and hassle? The 2017, of course. 60s mobile homes have Aluminum wiring and are fire traps. They are often small with bad floor plans. They require a tremendous amount of maintenance and will only attract marginal tenants. They are far past their practical lifespan and are being healt together with duct tape and a prayer. Replacing them with newer models isn't practical considering the drastic decline in single wide production and the resulting shortage of good used late models. IMO. This property is worth only the raw value of the land 

@Natalie Kolodiji was referring to Marty Johnson's plan. If I read that correctly, he seemed to suggest buying an existing park with homes in place and then selling them and moving them to the buyer's land. Perhaps I misunderstood.

If you sold the homes in your park and moved them out, how would you generate continuing income for the park you have bought?

@Justin Fox you just don't get it. 99.99 percent of people are too ignorant to handle a transaction without the help of a realtor. 

it's true that the seller pays commission but he also marks up the cost of the property in order to pay that commission. If you deal directly with the seller, chances are that a little more money will end up in your pocket.

No.