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re: Buying investment properties...

Posted on 6/5/14 at 9:02 pm to
Posted by stout
Smoking Crack with Hunter Biden
Member since Sep 2006
167618 posts
Posted on 6/5/14 at 9:02 pm to
My uncle owned a mobile home park. His only gripe was that when he bought it there was some park owned units he had to deal with renters on. He eventually got rid of them and just went to lot rentals which is less of a headache but will still have some management time. His biggest headache was collecting rent. Not to stereotype just to do it but you aren't dealing with the most upstanding citizens when it comes to a mobile home park.

I would also imagine the insurance premium on a park is fairly high. I wouldn't allow anything bigger than a house dog for one to keep that liability down.

How can you get it ready for $30K? A multi unit sewer system costs that much alone much less other utilities. Just curious.
Posted by roguetiger15
Member since Jan 2013
16203 posts
Posted on 6/5/14 at 9:28 pm to
I got quoted between 20k and 40k for the sewer systems so i took the average. As for as foundation, slab and road forming my brother owns a company that specializes in that and is willing to do it at no cost. Being that I'm an honorary Jew, I'll prob take my chances and go with the lowball estimate on the sewer in order to save costs for utility expenses

The reason he's willing to do it at no cost is bc I haven't charged him a penny for being both his FA and broker of record for his 401k
This post was edited on 6/5/14 at 9:31 pm
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