Search found 76 matches

by MrNo
Thu Mar 18, 2021 11:39 am
Forum: Personal Finance (Not Investing)
Topic: Investment in Mobile Home Park
Replies: 93
Views: 6740

Re: Investment in Mobile Home Park

Hi Abuss368,
yes i have & as everyone expected, i went against advise from majority on this thread. It seems to be good opportunity and current owner neglected MHP for last 4 years. We did excessive modeling and it seems viable opportunity. We will have positive cash flow from get go
by MrNo
Thu Mar 18, 2021 11:31 am
Forum: Personal Consumer Issues
Topic: What kind of bike and where to get it - 2021 edition
Replies: 57
Views: 4074

Re: What kind of bike and where to get it - 2021 edition

To close the loop here i ended up with Giant's Talon 1. Bikes are like a gold now days, i was going to LBS twice a week since January. Inventory was sporadic and unpredictable. Store owner said that he had no control of what he would get & usually that would be gone (sold) within 4-6 days. I am ...
by MrNo
Sat Jan 23, 2021 9:13 pm
Forum: Personal Finance (Not Investing)
Topic: Investment in Mobile Home Park
Replies: 93
Views: 6740

Re: Investment in Mobile Home Park

Article on Mobile Home University, which I think is rather balanced: https://www.nytimes.com/2014/03/16/magazine/the-cold-hard-lessons-of-mobile-home-u.html From the article, it sounds like you might reconsider your plan to keep the old property manager. Thank you for sharing it, that was pretty go...
by MrNo
Sat Jan 23, 2021 11:53 am
Forum: Personal Finance (Not Investing)
Topic: Investment in Mobile Home Park
Replies: 93
Views: 6740

Re: Past tax returns?

MrNo: What happened to copies of the tax returns they were to send you? Best wishes Taylor Jack Bogle's Words of Wisdom : "The past is history, the future's a mystery." We requested bunch of paperwork including proof of payments, tax returns etc. They said they will provide it next week. ...
by MrNo
Sat Jan 23, 2021 11:20 am
Forum: Personal Finance (Not Investing)
Topic: Investment in Mobile Home Park
Replies: 93
Views: 6740

Re: Investment in Mobile Home Park

Hello all, just a quick update. We received additional information regarding this investment, we met yesterday with realtor representing owner & company managing the park. Good news is that water, sewer is from City and each unit/space has a sub-meter and tenant is responsible to register with U...
by MrNo
Fri Jan 22, 2021 10:20 am
Forum: Personal Consumer Issues
Topic: Where do you buy coffee beans?
Replies: 179
Views: 15732

Re: Where do you buy coffee beans?

Lat year i started to make pour over coffee and i've been enjoying lately Organic Medium Good Morning Blend from Trader Joe's. 12ox for $15.
by MrNo
Fri Jan 22, 2021 9:53 am
Forum: Personal Finance (Not Investing)
Topic: Investment in Mobile Home Park
Replies: 93
Views: 6740

Re: Investment in Mobile Home Park

Our long term strategy would be to sell it after 5 or so years, after park has been turned around. Do you have a complete sense as to why the park needs turning around in the first place? Are you confident that all these factors are within your control? Without that, it would be hard to be able to ...
by MrNo
Thu Jan 21, 2021 10:52 am
Forum: Personal Finance (Not Investing)
Topic: Investment in Mobile Home Park
Replies: 93
Views: 6740

Re: Investment in Mobile Home Park

I personally have not invested in a MHP but have done work on bringing projects into compliance or converting them to ownership. The industry historically included many smallish parks with local owners and modest amenities. Over time larger players came into the field and we started to see parks wi...
by MrNo
Thu Jan 21, 2021 10:29 am
Forum: Personal Finance (Not Investing)
Topic: Investment in Mobile Home Park
Replies: 93
Views: 6740

Re: Investment in Mobile Home Park

So I've looked into buying one in the past and have done a fair bit of homework. There are excellent podcasts and things on the subject. As mobile home parks are valuated on a CAP rate basis, turning around a park can really increase the value fast. You should think of what you want to do with the ...
by MrNo
Thu Jan 21, 2021 10:27 am
Forum: Personal Finance (Not Investing)
Topic: Investment in Mobile Home Park
Replies: 93
Views: 6740

Re: Investment in Mobile Home Park

Yesterday we were talking to the property manager. Their company is managing 87 mobile parks in US. We expected him to be defensive and more of a "sweet talk", it was actually opposite. You could tell that he was frustrated with current owner. He made the point that if we are going to be l...
by MrNo
Thu Jan 21, 2021 10:17 am
Forum: Personal Finance (Not Investing)
Topic: Investment in Mobile Home Park
Replies: 93
Views: 6740

Re: Investment in Mobile Home Park

So I've looked into buying one in the past and have done a fair bit of homework. There are excellent podcasts and things on the subject. Overall, you should think of this as two separate investments: The park and the mobile homes on the pads. First, the park: This is the 'passive' part of the inves...
by MrNo
Wed Jan 20, 2021 6:44 pm
Forum: Personal Finance (Not Investing)
Topic: Investment in Mobile Home Park
Replies: 93
Views: 6740

Re: Investment in Mobile Home Park

OP: As an alternative, Would you consider purchasing a multi unit residential income property, by yourself, as a sole owner and owner managed, in the area where you live at an excellent price and excellent positive cash flow? j :D why i have a strange feeling about this question :). i would say yes...
by MrNo
Wed Jan 20, 2021 6:40 pm
Forum: Personal Finance (Not Investing)
Topic: Investment in Mobile Home Park
Replies: 93
Views: 6740

Re: Buying a business.

MrNo: When a business is going under, one of the first things an owner will do is try to sell their business. Buying a business is very risky. The owner knows much more than the buyer. When I was a SBA loan officer making loans to purchase small businesses, one of the questions I would ask is: &quo...
by MrNo
Wed Jan 20, 2021 6:36 pm
Forum: Personal Finance (Not Investing)
Topic: Investment in Mobile Home Park
Replies: 93
Views: 6740

Re: Investment in Mobile Home Park

It seems current property manager lived there for a while. if thats the case we would keep that. Another red flag. Think this through: The current property manager has been there for a while. That means that they have overseen the decline of the park and the departure of 1/3 of the residents. And y...
by MrNo
Wed Jan 20, 2021 2:55 pm
Forum: Personal Finance (Not Investing)
Topic: Investment in Mobile Home Park
Replies: 93
Views: 6740

Re: Investment in Mobile Home Park

There are few homes that need some attention. Current owner did not invest much into. It seems there is a space to add additional mobile homes. Park has 20 spaces & 13 are rented out. 6 are vacant and it seems they need some attention and repair in order to be rented out. it has a property mana...
by MrNo
Wed Jan 20, 2021 2:53 pm
Forum: Personal Finance (Not Investing)
Topic: Investment in Mobile Home Park
Replies: 93
Views: 6740

Re: Investment in Mobile Home Park

In addition to the 6 vacant lots, how many of the 13 lots are current and what is their payment history? How are the utilities billed (master or individually)? Are these homes rented or being sold on contract? What are the lease terms (if rented)? How is the property manager screening tenants? What...
by MrNo
Wed Jan 20, 2021 2:52 pm
Forum: Personal Finance (Not Investing)
Topic: Investment in Mobile Home Park
Replies: 93
Views: 6740

Re: Investment in Mobile Home Park

Invest in or buy? Invest in, hard pass. Personally, I'm not buying into the mobile homes business; it's a product in general I disagree with. However, if you're ok with mobile homes, the parks can be a viable business. Lots to learn before doing so. thats a fair point. Would i desire to live in mob...
by MrNo
Wed Jan 20, 2021 2:50 pm
Forum: Personal Finance (Not Investing)
Topic: Investment in Mobile Home Park
Replies: 93
Views: 6740

Re: Investment in Mobile Home Park

How are the utilities billed (master or individually)? This is actually quite important. I personally know of a mobile home park that was well established (been there forever). For whatever reason the owners of the park began having trouble paying the water bill(s). Kept telling the city they would...
by MrNo
Wed Jan 20, 2021 2:49 pm
Forum: Personal Finance (Not Investing)
Topic: Investment in Mobile Home Park
Replies: 93
Views: 6740

Re: Investment in Mobile Home Park

Hi All! i have an opportunity to invest in Mobile Home Park. Wondering if anybody had any experience with such investment. What are the pitfalls & what to look for. There are few homes that need some attention. Current owner did not invest much into. It seems there is a space to add additional ...
by MrNo
Wed Jan 20, 2021 2:30 pm
Forum: Personal Finance (Not Investing)
Topic: Investment in Mobile Home Park
Replies: 93
Views: 6740

Re: Investment in Mobile Home Park

Do you have mobile home rental experience? Landlord experience? I'd read through this post from 2019 and maybe Bigger Pockets https://www.bogleheads.org/forum/viewtopic.php?t=291160 thanks, i've seen that topic before posting mine. OP on that topic had a different intent than me. Thats why i made n...
by MrNo
Wed Jan 20, 2021 12:59 am
Forum: Personal Finance (Not Investing)
Topic: Investment in Mobile Home Park
Replies: 93
Views: 6740

Re: Investment in Mobile Home Park

F150HD wrote: Wed Jan 20, 2021 12:32 am what is drawing you towards investing in this?
Additional stream of income. It seems decent opportunity (for now)
by MrNo
Wed Jan 20, 2021 12:58 am
Forum: Personal Finance (Not Investing)
Topic: Investment in Mobile Home Park
Replies: 93
Views: 6740

Re: Investment in Mobile Home Park

I would be concerned about being it being 1/3 vacant. Are there other mobile home parks nearby and how much of a vacancy factor do they have? It's costly and cumbersome to move a mobile home and, depending on their size, most of them are never moved after their initial placement. So if the park is ...
by MrNo
Wed Jan 20, 2021 12:55 am
Forum: Personal Finance (Not Investing)
Topic: Investment in Mobile Home Park
Replies: 93
Views: 6740

Re: Investment in Mobile Home Park

playtothebeat wrote: Wed Jan 20, 2021 12:07 am If you decide to raise rents and/or evict, it’s easier said than done. Owners band together to protect one another, and there are optics behind trying to evict a mobile park resident.. keep that in mind.
Thats not intent at all. I would like them to stay, happy and not to move = not empty homes
by MrNo
Tue Jan 19, 2021 11:50 pm
Forum: Personal Finance (Not Investing)
Topic: Investment in Mobile Home Park
Replies: 93
Views: 6740

Investment in Mobile Home Park

Hi All! i have an opportunity to invest in Mobile Home Park. Wondering if anybody had any experience with such investment. What are the pitfalls & what to look for. There are few homes that need some attention. Current owner did not invest much into. It seems there is a space to add additional m...
by MrNo
Tue Jan 12, 2021 11:19 am
Forum: Personal Investments
Topic: Advise - Last Traditonal IRA standing
Replies: 20
Views: 1019

Re: Advise - Last Traditonal IRA standing

My advice is to take care of the IRA sooner rather than later. I procrastinated dealing with my wife's traditional IRA while in our lower income years, and now thanks to an unexpected income increase, we will likely never have a chance to convert it at lower than the 24% bracket. I hope to convert ...
by MrNo
Mon Jan 11, 2021 9:37 pm
Forum: Personal Investments
Topic: Advise - Last Traditonal IRA standing
Replies: 20
Views: 1019

Re: Avise - Last Traditonal IRA standing

I think a decent option, particularly if there's a reasonable chance the spouse will return to the work force (and thus get access to a 401k that might accept incoming rollovers), would be to make the non-deductible tIRA contributions, and wait until the tax-deferred balance can be moved out of the...
by MrNo
Mon Jan 11, 2021 9:35 pm
Forum: Personal Investments
Topic: Advise - Last Traditonal IRA standing
Replies: 20
Views: 1019

Re: Avise - Last Traditonal IRA standing

There are only 3 choices I can think of. 1. Leave the tIRA as is. Put money that would go into IRA into a taxable account instead. A taxable account is a fine place for some retirement money. 2. Convert the tIRA to Roth and pay tax on $42k, probably at 24%. 3. If SO could start a business (not a ho...
by MrNo
Mon Jan 11, 2021 9:32 pm
Forum: Personal Investments
Topic: Advise - Last Traditonal IRA standing
Replies: 20
Views: 1019

Re: Avise - Last Traditonal IRA standing

celia wrote: Mon Jan 11, 2021 4:37 pm Do you file MFJ (are married)?

If not married, do you both file as Head of Household? Your income would then be irrelevant to SO, who would appear to be in a very low tax bracket and could then convert part of the tIRA free each year.
we are married and filling MFJ good thought though
by MrNo
Mon Jan 11, 2021 2:57 pm
Forum: Personal Investments
Topic: Advise - Last Traditonal IRA standing
Replies: 20
Views: 1019

Re: Avise - Last Traditonal IRA standing

We have one T IRA in my SO name, worth about ~$42k & i am not sure what to do with it. I would like to convert it to tIRA but i am concerned about paying taxes & wondering if that would be a good move. --MisterNo not sure if you are trying to say you want to convert from traditional IRA to ...
by MrNo
Mon Jan 11, 2021 2:32 pm
Forum: Personal Investments
Topic: Advise - Last Traditonal IRA standing
Replies: 20
Views: 1019

Advise - Last Traditonal IRA standing

Hello everyone & Happy New Year!! I am looking for some help with making a decision what to do with "Last Traditional IRA". We are family of 5 & SO is home maker, working full time taking care of our 2,5 and 8 year old.Our Federal Tax rate is 24% and state is 9.5%. My base salary i...
by MrNo
Sun Jan 10, 2021 1:14 am
Forum: Personal Consumer Issues
Topic: Password manager for Mac Air
Replies: 26
Views: 1984

Re: Password manager for Mac Air

My suggestion is BitWarden. I used LastPass and ~ 18 months ago migrated to BitWarden. It works great on MacOS, Linux, windows and IOS.
by MrNo
Mon Jan 04, 2021 2:21 am
Forum: Personal Finance (Not Investing)
Topic: Smarthome Design Requests - Building New Home
Replies: 48
Views: 2636

Re: Smarthome Design Requests - Building New Home

I think you received lots of good suggestions and Klangfools cabling instructions are perfect. I have 2000 single story home that we built 2 years ago. We had installer to run Cat6a throughout house, 30 runs total including 4 runs to ceiling drops for Access Points. We are currently using 3 APs that...
by MrNo
Wed Dec 30, 2020 10:57 pm
Forum: Personal Consumer Issues
Topic: What kind of bike and where to get it - 2021 edition
Replies: 57
Views: 4074

Re: What kind of bike and where to get it - 2021 edition

Also i need help convincing my wife not to get a bike from big stores for ~$150. She thinks that will be sufficient for her. Department store bike are crap. They are built with a 75 mile life expectancy. Assembly is poor. Parts are poor quality designed for ease of manufacturing and don't hold prop...
by MrNo
Wed Dec 30, 2020 4:41 pm
Forum: Personal Consumer Issues
Topic: What kind of bike and where to get it - 2021 edition
Replies: 57
Views: 4074

Re: What kind of bike and where to get it - 2021 edition

I am familiar with the Trek line, mostly because I like the Trek LBS. The major brands are all similar enough and they have way too many models at way too many price points. As others have said, when you spend more you bet better quality components. Do you care? Probably not. $600 is a good price p...
by MrNo
Wed Dec 30, 2020 4:34 pm
Forum: Personal Consumer Issues
Topic: What kind of bike and where to get it - 2021 edition
Replies: 57
Views: 4074

Re: What kind of bike and where to get it - 2021 edition

There was another recent thread similar to yours... what gets overlooked often in these threads is that getting the correct size and fit is more important than anything else. And be proactive at asking the LBS to give advice about the fit of the bike. And try a few different brands including a size...
by MrNo
Wed Dec 30, 2020 4:30 pm
Forum: Personal Consumer Issues
Topic: What kind of bike and where to get it - 2021 edition
Replies: 57
Views: 4074

Re: What kind of bike and where to get it - 2021 edition

You have had a lot of thoughtful input already. I certainly agree with the consensus to go with a better quality brand. I've worked part time as a bike mechanic in a local bike shop for the past 8 years. Trek, Specialized, Giant are all solidly made bikes. As noted by one poster, the REI Novara bik...
by MrNo
Wed Dec 30, 2020 4:20 pm
Forum: Personal Consumer Issues
Topic: What kind of bike and where to get it - 2021 edition
Replies: 57
Views: 4074

Re: What kind of bike and where to get it - 2021 edition

Little did i know ... :) thanks everyone for taking your time and providing input, suggestions & guidance which is beyond helpful. Lots of great info that i am trying to digest. Bit overwhelming but fun. It made me wonder if i should increase price range to $1000 or stick with ~$600 to get a bet...
by MrNo
Mon Dec 28, 2020 12:10 pm
Forum: Personal Consumer Issues
Topic: What kind of bike and where to get it - 2021 edition
Replies: 57
Views: 4074

Re: What kind of bike and where to get it - 2021 edition

I have bought a few bikes second hand and the rest from a local store. They should take the time to understand your needs and help you get fitted for a bike. If you haven't ridden for a while, I cant stress the need to get the right size bike enough. Yes, Trek and Specialized are good brands and ye...
by MrNo
Mon Dec 28, 2020 11:30 am
Forum: Personal Consumer Issues
Topic: What kind of bike and where to get it - 2021 edition
Replies: 57
Views: 4074

What kind of bike and where to get it - 2021 edition

Hello & I hope everyone is having great holidays! DW & myself have decided to buy bikes. Since we have not had bikes since we were children and much of our friend/family circle is bike-less, we are looking for some recommendations and advice to help aside from what we can find on google. Our...
by MrNo
Thu Oct 01, 2020 3:10 pm
Forum: Personal Consumer Issues
Topic: Help with replacing water heater
Replies: 49
Views: 3218

Re: Help with replacing water heater

Thanks everyone for your input and sharing your thoughts. Plumber is in the garage installing the water heater right now. decided to go with regular gas. We spoke about tankless but he said that he needs to run a dedicated gas line and that would increase the cost drastically. That was main deciding...
by MrNo
Thu Oct 01, 2020 9:15 am
Forum: Personal Consumer Issues
Topic: Help with replacing water heater
Replies: 49
Views: 3218

Help with replacing water heater

Hi, First, you gals/guys are an awesome group of people. I value very much diversity of your thoughts and ideas. Yesterday evening we noticed that water coming out of our water heater is bit colored. I will flush it today but knowing that water heater is 15 years old, it might be going belly up &...
by MrNo
Mon Jan 20, 2020 11:29 am
Forum: Personal Consumer Issues
Topic: My Hotmail account is getting spammed big time
Replies: 48
Views: 5990

Re: My Hotmail account is getting spammed big time

I do have proton account that I am using solely for financial institutions. For what is worth it seems it stopped & somebody came back to work & turned Spam filter back on. It stopped. Yes, around 2am this morning all spam that had been going to my main folder has now been successfully dive...
by MrNo
Mon Jan 20, 2020 9:51 am
Forum: Personal Consumer Issues
Topic: My Hotmail account is getting spammed big time
Replies: 48
Views: 5990

Re: My Hotmail account is getting spammed big time

I do have proton account that I am using solely for financial institutions.

For what is worth it seems it stopped & somebody came back to work & turned Spam filter back on. It stopped.
by MrNo
Mon Jan 20, 2020 12:11 am
Forum: Personal Consumer Issues
Topic: My Hotmail account is getting spammed big time
Replies: 48
Views: 5990

Re: My Hotmail account is getting spammed big time

I am in the same boat. Long time hotmail/outlook user. in last 4 days I started to get overwhelmed with amount spam I am getting. every ~6 min a spam message on average. In all these years I have not seen anything this bad. Its so bad that that I gave up & spent last hour looking for an alternat...
by MrNo
Wed Aug 07, 2019 10:56 am
Forum: Personal Finance (Not Investing)
Topic: What would you do - Large Commission (Bonus)
Replies: 43
Views: 4039

Re: What would you do - Large Commission (Bonus)

What if the house was purchased at an all time high as well? What does putting money towards a debt obligation have to do with the purchase price of the house? It doesn't. How quickly we forget the lessons of the Great Recession... Putting extra principle to a mortgage or other debt is a tax free r...
by MrNo
Wed Aug 07, 2019 10:52 am
Forum: Personal Finance (Not Investing)
Topic: What would you do - Large Commission (Bonus)
Replies: 43
Views: 4039

Re: What would you do - Large Commission (Bonus)

While i am sure that putting this money to work in stock market and let it grow would be better financial decision, we decided to pay off mortgage & be debt free. Its a great feeling. Now my focus is retirement and 529's for my kids. My monthly mortgage payment was $1873 and i was paying $2173....
by MrNo
Wed Aug 07, 2019 10:51 am
Forum: Personal Finance (Not Investing)
Topic: What would you do - Large Commission (Bonus)
Replies: 43
Views: 4039

Re: What would you do - Large Commission (Bonus)

I am wondering what would you do if you were in my shoes. I was working on a big project and my company awarded me large commission after it was completed, $600k split into 2 payments. I feel very fortunate and beyond thrilled. My base Salary $155k. + 10-20% commission Emergency funds: ~12 months o...
by MrNo
Sat Aug 03, 2019 9:46 am
Forum: Personal Finance (Not Investing)
Topic: What would you do - Large Commission (Bonus)
Replies: 43
Views: 4039

Re: What would you do - Large Commission (Bonus)

Hello, First i wanted to thank everyone for sharing their opinion, advice & input. Greatly appreciated. Second, just wanted to share our decision. While i am sure that putting this money to work in stock market and let it grow would be better financial decision, we decided to pay off mortgage &a...
by MrNo
Mon Jul 22, 2019 12:47 am
Forum: Personal Consumer Issues
Topic: Encrypted To-Do app suggestion?
Replies: 9
Views: 1175

Re: Encrypted To-Do app suggestion?

I use Joplin, it meets your criteria.
It’s a open source note taking app and has TO-Do capability as well.
by MrNo
Thu May 23, 2019 11:32 am
Forum: Personal Finance (Not Investing)
Topic: What would you do - Large Commission (Bonus)
Replies: 43
Views: 4039

Re: What would you do - Large Commission (Bonus)

Note: $19k for 401k and $6k for Roth. Great observation above about a Roth for your wife. Initially I was going to say 100k or so to the mortgage but you live in CA. From what I have read on here I believe that is a non-recourse (?) state so that is something to consider before putting more money t...