All Forum Posts by: Trudy Pachon

Brick buildings with white roofs.

Hi Raquel,

It's Stone and Roger by the Super Target. 

I like the area, but it's not that close to the University. 

The thing I don't like is that the apartments have swamp coolers rather than AC. So that's kind of a problem. 

But window units would works since the units aren't that big. 

Hi all,

So we went to Tucson over the weekend to look at several MHPs and our broker showed us an apartment building that we thought was a good deal. We ran it through the calculator, and it looks OK, not great, but OK. 

This will be our first apartment building and we are hoping for a turn key type property since we both work. We simply can't deal with a fixer upper at this point. We barely made it to Tucson and back!

Here's the stats:

10 2bdr.

1 1bdr. 

Rent on all units is about 595. They are single story duplexes with small back patios and front common ground. 

Price: 495K

Amount needed to rehab: We are guessing about 12k for cosmetic landscaping and signage. Units seem to be in good shape. Several recently remodeled. Poor management seems to be an issue here. Four units were available when we viewed the property, but we couldn't reach them all weekend. Maybe they don't work over the weekend? 

Loan: 4.75% with 25% down. We are trying to split the loan into four loans because the duplexes are on four lots. So we can get the residental rate.

We think there is potential upside with better management.

What do you all think? How does this deal look to you? Thanks so much for any input. We are a bit scared to move forward with our offer.

Hi all,

Thanks so much for the tip on the MHP meetup. Who knew such a thing existed here in San Diego. I just signed up and will see everyone there!

Yes, we are going to try to get to the in-person training in Denver if we can get the time off. If not, we're also doing the study at home materials from Mobile Home University. It's kind of expensive, but seems worth the price to avoid a costly mistake. 

I have been looking at the forum here for a bit. So much good information. Looking forward to learning and hopefully getting some kind of deal close to home. 

Awesome! Thanks so much. This is so helpful. We are trying to get to the boot camp in Denver, but don't know if we can get the time off. I'll pop over to the MHP forum and chat there as well. In the meantime, we just bought the MHP University home study stuff and are trying to educate ourselves fast! 

This one seems good. But since I'm such a newbie, I imagine seems and is are two different things! There appear to be quite a few MHPs for sale in Tucson right now, which makes me wonder what's going on over there. Most of the numbers don't work for us. They seem expensive. 

I'll post the numbers over on the MHP forum and see what folks think. Basically, using his numbers I'm getting a 14% cap rate, but the numbers seems a little goofy on some of the financial statements. He claims it's 18%, but some of his other numbers are saying 34%, which doesn't make sense. 

We have lots of work to do to figure this out! 

Hi I am a new investor from San Diego California I'm looking to invest in the mobile home park space.

Currently looking in Arizona and California as close to home as possible. I would love to meet with and chat about this with other folks from the area!

We're thinking about putting in an offer to an owner he wants 30% down on a mobile home park  He will carry the rest of the loan  I'm a bit  confused because we're not using a realtor this time and we're going to try and do this ourselves we're going to hire an attorney to look over all of the paperwork once we get the deal rolling but to start the deal I'm wondering if anybody has any advice on forms or how to protect their earnest money deposit