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Wealthy Kingdom
Private • 1.2k • Free
The MHP Pros Mastermind
Public • 35 • $15/m
5 contributions to The MHP Pros Mastermind
Aug 23
in
What seller-finance terms makes this 20-lot park a great deal?
Hi Ryan and any investor who might have insight. I’ve got a lady who wants to sell me her 20 lot park. Ryan I’ve shared this with you before— and you said it’s worth shooting for $60k/lot, even though she wants $1.6M (which is way too much in my opinion) I’m meeting her next week. She’s open to seller finance. She asked me to put together a proposal of what seller finance terms would look like -- including what benefits are in it for her to seller finance. Be great to get advice on what a win-win scenario would look like for both myself and owner. I need to be cashflow positive out the gate to take on this project. (I’d be managing remotely from California) 20 lot park (30 min south of Dallas) $1.6M 19/20 lots occupancy 100% TOH $425 actual vs $600 market Median home $350k Market - higher than avg crime rate
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New comment Aug 23
Aug 15
in
BEST 1-5 MARKETS TO TARGET
@Ryan Narus now you got me thinking more strategically..I live in California and since CA is not very affordable I will be targeting out-of-state markets that have more favorable cap rates given today's higher cost of borrowing. I checked course outline, but see no guidance on how to choose market. Do you have any suggestions on how to research best markets to target? I was thinking since cost of borrowing is closer to 6.5-7 interest rate, I'd need to target states with at least an 8 cap. Is there a heat map of MHP cap rates by state/market? Or what's the best way to go about this? Thank you.
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New comment Aug 20
0 likes • Aug 16
@Ryan Narus is this the episode? I can't find part 2 though. https://podcasts.apple.com/us/podcast/the-case-for-different-mhps-part-1/id1365784637?i=1000451879793
1 like • Aug 20
@Ryan Narus Thank you - am listening to them.
Aug 14
in
SKIPTRACING + SPEEDDAILER + CRM
Hi @Ryan Narus and anyone who has inputs: 1) SKIPTRACE - would you please share you thoughts on what is the most accurate skip tracing service to invest in? My BIGGEST challenge is finding the individual owner’s name behind the corporate entity. For example I come across abc-LLC, but opencorporates.com doesn’t disclose the name of the individual owner (so I’m stuck). 2) SPEEDDIALER + CRM -what’s a reasonably priced + effective speed dialer and CRM to start with? Thanks so much!
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New comment Aug 16
2 likes • Aug 15
@Ryan Narus this is exactly what I needed to hear! Given your advice, these are my new priorities: 1) call brokers (first) 2) do cold calling/bonding myself. 3) identify my top 3-5 markets. 4) cut out the waste: I will stop investing my time into a building a team of cold callers from the Phillipines. For efficiency though, I do have a skiptracer from PH who helps me with more menial tasks, like prepping leads by using skiptracing software, manually skiptracing harder to find owners. I was thinking about having my assistant make the first round of calls to qualify the few accurate contacts ---and I would then call back to build a deeper rapport. What do you think?
Aug 4
in
Leads
Where’s a good place to get a comprehensive list of leads (property address, owner name/ contact)?
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New comment Aug 4
Jul 24
in
Underwriting
Is there a quick underwriting calculator to determine the value of a park? Also if we have a park we'd like to submit, where can we do that?
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New comment Jul 25
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@kate-lee-9740
Hi, I'm Kate from Santa Barbara, CA. Background is NNN industrial real estate investing + money coaching.
Active 24d ago
Joined Jul 15, 2024
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