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All Forum Posts by: Virginia H.

Virginia H. has started 10 posts and replied 65 times.

Post: Question: Hard money lender or flipper?

Virginia H.Posted
  • Investor
  • Mobile, AL
  • Posts 66
  • Votes 21
Originally posted by @Mark Bookhagen:

Hi Virginia,

$10k won't let you play in either field.

 Hello, Mark... $10,000 was an arbitrary number I pulled out of the air.  Whatever number you feel comfortable is fine.  I'm just curious which way one would go and why.

Out of curiosity, what number do you believe does permit one to "play in either field" and what is that number based on?

Post: Advice on a career as Assistant/Property Manager

Virginia H.Posted
  • Investor
  • Mobile, AL
  • Posts 66
  • Votes 21
Originally posted by @Renski Davis-Buckley:

Virginia,  I was previously a Housing Counselor for a non-profit community housing center, recruiting and assessing clients, as well as monitoring a six figure budget. I do have management experience; this experience is greater in the field of mental health. I appreciate your advice. I will begin looking and applying for the Assistant positions.

 Do so and you may even want to apply for manager.  Learning lease prep and so forth is actually very easy... However, you MUST be very familiar with Fair Housing Laws.

Post: Question: Hard money lender or flipper?

Virginia H.Posted
  • Investor
  • Mobile, AL
  • Posts 66
  • Votes 21

I am curious. If your goal is a quick "high" return and you had $1o,000.00 cash as a starter fund, would you attempt to be a lender or would you attempt to flip or would you take some other route in the REI realm and why?

Post: Advice on a career as Assistant/Property Manager

Virginia H.Posted
  • Investor
  • Mobile, AL
  • Posts 66
  • Votes 21
Originally posted by @Virginia H.:
Originally posted by @Renski Davis-Buckley:

Hello, I, Renski Davis-Buckley, have recently relocated to Spring, TX (Houston, The Woodlands, Conroe) and a currently searching for employment in the area. I would like to explore career options in the field of of a Assistant/Property Manager. I have acquired a Bachelors of Arts in Psychology and my Masters of Science in Social Work, Management, Leadership, and Community Planning (MLCP), which provides me the knowledge of organizational management, staff recruitment and training, policy and budget analysis. I would like to know if you have any advice of how to locate opportunities and experience? I would appreciate any assistance that you would be able to provide me. Thank you, Renski Davis-Buckley

Renski, I would recommend applying for the "Assistant Property Manager" jobs in your area. However, with a MLCP in the field you chose, I am certain many would consider you to be over qualified.

In the meantime, go to Amazon or Barnes and Noble and read everything you can get your hands on concerning property management, basic accounting, marketing, and sales,.... Begin with property management. 

What is your work/internship history? Do you have any management or professional experinece at all? 

Post: Advice on a career as Assistant/Property Manager

Virginia H.Posted
  • Investor
  • Mobile, AL
  • Posts 66
  • Votes 21
Originally posted by @Renski Davis-Buckley:

Hello, I, Renski Davis-Buckley, have recently relocated to Spring, TX (Houston, The Woodlands, Conroe) and a currently searching for employment in the area. I would like to explore career options in the field of of a Assistant/Property Manager. I have acquired a Bachelors of Arts in Psychology and my Masters of Science in Social Work, Management, Leadership, and Community Planning (MLCP), which provides me the knowledge of organizational management, staff recruitment and training, policy and budget analysis. I would like to know if you have any advice of how to locate opportunities and experience? I would appreciate any assistance that you would be able to provide me. Thank you, Renski Davis-Buckley

Renski, I would recommend applying for the "Assistant Property Manager" jobs in your area. However, with a MLCP in the field you chose, I am certain many would consider you to be over qualified.

What is your work/internship history? Do you have any management or professional experinece at all? 

Post: Don’t Miss the ‘Micro Home’ Opportunity

Virginia H.Posted
  • Investor
  • Mobile, AL
  • Posts 66
  • Votes 21
Originally posted by @Jerry Lucker:

People make this way too complex. I buy mobile homes in parks at a discount - repo or otherwise. I pretty them up, sell at retail, put the profit in the bank, and move on to the next one. Financing has always been available for the buyers.

Construction, depreciation, economy, comparison to stick built, etc. etc. etc.. all the usual negatives - have never slowed me down in the last 15 years. I just go about providing affordable housing that is the only alternative to renting in many markets. 

It's no surprise that virtually all of the bad press about 'trailers' as a high profit margin, quick and easy flipping business model comes from investors who haven't figured out exactly how to be real successful in this unique housing niche.

The few that have it figured out pretty much have the market to themselves. The lack of competition is one of the key factors in the unusually attractive profit margins.

Jerry, maybe I am misunderstanding the original post.  Is this post related to your original post in this thread in regard to pre-fab homes?

Post: Don’t Miss the ‘Micro Home’ Opportunity

Virginia H.Posted
  • Investor
  • Mobile, AL
  • Posts 66
  • Votes 21

Good morning, John.  I apologize for not answering last night but I was too exhausted. There are multiple causes - depending on the house itself.

Our homes (there are 100 out here) have a crawl space that vary in height from 2 to 4 feet high.  There is a large access panel on the back of each house that is covered (not ventilated).  There is a minimum of 2 vent panels on each side of the house.

Within a few months after delivery and setup of the homes - in 2008 and 2009  (This is well before my hiring here so I am having to rely on documents available) mold and mildew issues were reported by, what appears to be, the majority of tenants that were living here at the time.  Most of these were documented.  The mold and mildew was throughout the rooms of the house.

At some point, someone decided there was not enough ventilation and the "fix" was to close off the vent ducts, lay plastic on the ground, and install dehumidifiers. This was a very short-lived "fix" as the dehumidifiers have quick working in most all the houses.

These known culprits appear to be these:

1. The cooper AC line running underneath the house was not insulated.  The condensation from the line has been dripping and pooling underneath the house on the plastic covering the ground.  It eventually evaporates and gets absorbed by the OSB flooring.

2. Water and sewer pipe leaks (though small) have been discovered under many of the homes.  As in #1, as the moisture evaporates it is absorbed into the OSB flooring.

3.  The tile used in the kitchen and bathrooms was applied directly on top of the OSB and not on top of a cement backer board.  When the house settles the tiles crack and the moisture used in the mastic (sp?) to apply the tile absorbed into the OSB floor which also helped to weaken it.

All contractors agree that OSB flooring should have never been approved for use as a subfloor - especially in our neck of the woods, on the coastline in the deep south with humidity averaging (in the summer time) 75% to 100%. However, since it has been approved, it is imperative that ALL moisture must be kept out.

I think that's everything. I hope this answers your question. Please feel free to follow-up with any questions.  I am going to look for a piece of the OSB flooring and I will post soon.

Post: Don’t Miss the ‘Micro Home’ Opportunity

Virginia H.Posted
  • Investor
  • Mobile, AL
  • Posts 66
  • Votes 21
Originally posted by @John Arendsen:

@Virginia H., Great can't wait to see the photos. Who was the manufacturer? I know a few of the better ones have finally started using plywood but wasn't aware of anyone, at least in Cali, who was using OSB. 

That stated, I'd sure like to find out why the OSB failed from moisture issues as it's supposed to hold up to weather. That's why they use it on the exterior of homes. 

 Palm Harbor Homes out of Florida. .... Tomorrow, when sleep is not calling, I will share with you what I have been told by a few of the contractors. 

Nite 

Post: Don’t Miss the ‘Micro Home’ Opportunity

Virginia H.Posted
  • Investor
  • Mobile, AL
  • Posts 66
  • Votes 21
Originally posted by @John Arendsen:

@Virginia H.HA! I wish the floors were made with OSB. Perhaps they wouldn't fail as OSB is designed for exterior applications i.d. roof sheathing, siding and shear panel. What you are describing is actually Particle Board which is merely compressed sawdust held together with an "Elmers Glue" like water soluble product

When the particle board gets saturated with water the holding agents in the glue dissolve and the particle board turns back to sawdust. That's about as unacademic as I can describe it. For the live of me I don't understand why the MH industry persists on using this type of product when it's only GUARANTEE is to FAIL.

 Hello, John. 

No, the subfloors are in fact OSB.  The cabinetry is particle board. I will try to remember to post some photos tomorrow. 

Post: Green Horn from Baton Rouge Louisiana

Virginia H.Posted
  • Investor
  • Mobile, AL
  • Posts 66
  • Votes 21
Originally posted by @Jeremy Pousson:
Originally posted by @Virginia H.:

Baton Rouge! My  home town!!!!

Good luck and welcome to BP!

 Geaux Tigers

GEAUX TIGERS!!!