All Forum Posts by: Tony Cash

Been trying to find it to listen but it doesn’t show up in search on iTunes and when I click a link From the site it go nowhere. Not sure if it me or if there is an issue I’m not aware of.

I think there is more info needed as everyone have said. On the surface it looks ok I think, it’s just some of the numbers need more like the maintenance cost do seam low especially if the building is old but if they have taken really good care of it maybe not. I would also look at the 100% occupation. I have never had a unit that large but fro what I understand 100% isn’t common. I could be wrong so check with someone with experience but you may want to check and see if they just filled it up to make the numbers look better than they are especially considering they have no vacancy rate in the equation. The best part is that you are looking and now getting plenty of info to go back and ask them to get better at the process.

Would need a lot more information to make any kind of guess. Like purchase price, financing terms, and condition of the building although we can not know that without inspecting. If you are looking for cash flo then with a payment of $1000 a month then it would be good but $4000 not so much. $1000 would even be bad if there were constant repairs. My question is do you think it’s a good deal and why or why not?

Welcome to BP!!

Hello and welcome to BP I am a few hours north of you in Southern Kentucky. If there is anything I can help with let me know. I am about to finish rehab on my 2nd rental so I'm still new this go around but I've been in real estate for several years as a contractor. Feel free to ask away someone one here probably knows the answer or at least can point you in the right direction.

I have owned several and can give you my opinion. Depending on how you want to purchase them will make different results. 1. You have to understand that you will lose the value of the home over time which is the biggest drawback. Mobile homes lose there value over time the way a car does so keep that in mind. If you pay $20000 for one today in 10 years it will be worth $5000. (These are not definitive numbers just making the point) So your cash flow will pretty much be all you get. 2. They tend to draw a more difficult tenant the way a lower class house would. Making it a more challenging process. 3. One of the biggest upsides to them is you can get them cheap. I own one now that I paid $1300 for and spent about $3000 rehabbing and it rents for $400 a month. I pay $100 a month for the lot rent and make $300 a month off of it (minus taxes and upkeep) if you can pile up enough of them it can be great but can also be a lot of work. 4. They also tend to rent really well meaning they don't sit empty very long but the turnover cost can add up as people in that price range don't typically care about the property. There are a lot of other pros and cons but I think that they can typically be a great start if you are willing to put up with the hassle factor. I started that way both times and it worked out great. ( lost everything in a divorce the first time and had to start over). If I can help with any questions you have about them let me know.

Some local newspapers still list deed exchanges. If they have an online archive you may be able to search the address there. Very slim chance of success but maybe. You could also call a realtor and offer them $100 to find out. They could probably get the info fastest.

I love that blue gray color with the white. Do you mind my asking what the color is. I tried the same look with one but my color was to dark and gray in the end.

If you were a little further south I could probably help. But that a little to for out of my area. I'm in Glasgow ky. About 2 hours south of you.

If it makes sense for the area build a duplex on it.