All Forum Posts by: Travis Frenchak

Why do anything more than a month to month? Whats the upside? I don't see one. I only do month to month tenancy agreements. If they want to stay for 50 months and they're good, awesome. If they want to leave in 3 months why make them stay? It just complicates things. 

This is one reason I like month to month tenancy agreements. At the end of the day they will continue to do these things as long as you let them. 

I personally would, and have, tell them to contact whoever they deem necessary. They can call code enforcement but if you're not currently making changes its unlikely they will cite you for something. 

You never truly know what kind of tenant you're getting until its too late. Good luck. 

My advice would be don't, but that's just me. I just don't see an upside to owning mobile homes. They're not made that well and they don't appreciate. Plus I'm a little confused on your numbers. You say rent is 550. Is that what you're charging a tenant? Doest that include lot fee or are they paying that in addition to the rent? Some mobile home parks want final say on who can live in the park, something to look into also. 

This post is from 2 years ago! How did this get dug up?! 

I don’t see it as a good investment unless you personally have a use for it.

Purchased a 4 unit value add in a good location. I think I paid too much for it but it will be a good income producing property forever. Paid 70k, total renovations will be done over time guessing 25k. ARV around 115-140k. Once completed total rents will be around 2k a month with cashflow around 1k monthly.

Currently have a 4k sq ft mixed use under contract. 2k will be residential 2k commercial. Great location all brick. Purchase price of 45k. Renovations around 40k. ARV around 200-250k. Should gross about 3k a month with approx 2k monthly cashflow.

Hoping to get into something larger, 10+ unit, in 2021. 

@Dan V. I’d say a deck is only a good thing if it is safe and in good condition.

If day of an 8% COC return is a good deal for your area spend the money to investigate more. If 8% is pretty common I'd say walk away and find another one.

If they don't pay November rent maybe invoke your abandonment clause, assuming you have one in the lease. Just be sure to follow the proper steps. 

I had a tenant in the past call and complain about issues he had with people in the neighborhood, basically told him not my problem call the police. They need to figure it out between themselves. 

@Daria B. seems pretty accurate. Also easier for someone in CA to make the required amount than it is in other states.