Cash Flow Friday Tip #30: When it makes sense to over pay for a property.

Real Estate Investing for Cash Flow with Kevin Bupp

Kevin Bupp

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4.9 • 675 Ratings

🗓️ 14 August 2015

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

Thank you for joining me today as I share tips and strategies that will hopefully bring you a ton of value and help take your real estate business to the next level.

This week I'm going to discuss a deal we're currently working on and why we're willing to over pay for it. There aren't many times when it makes sense to overpay for a property, but this one is the exception to the rule.

Recommended Resources:

Download my free success guide, “7 habits of highly successful multi-family investors” by going to www.KevinBupp.com/guide
Schedule your free 30 minute "no obligation" call directly with Kevin by clicking this link https://www.timetrade.com/book/KV2D2
Looking to invest in Mobile Home Parks? Want to JV with me on deals? If so, schedule a call with me and let’s talk. Click here https://www.timetrade.com/book/FGF7S

Transcript

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0:00.0	Welcome to Kevin's Cashflow Friday Real Estate Tip, where Kevin shares with you strategies
0:09.8	and tips that will help increase your cash flow, make you a more sophisticated investor,
0:14.9	and provide you with the tools necessary to take your real estate business to the next level.
0:19.5	Now, here's the man you've been waiting for, Kevin Bub.
0:23.3	Hey guys, Kevin Bup here with episode number 30 on the real estate investing for cash flow,
0:28.0	Cashflow Friday tip.
0:29.6	Thank you for joining me today as I share tips and strategies that will hopefully bring you
0:33.7	a ton of value and help take your real estate business to the next level.
0:37.7	And this week, I'm going to discuss a deal that we're currently working on.
0:41.6	It's a mobile home park deal and why we're willing to overpay for it.
0:46.4	Now, there aren't many times when it makes sense to overpay for a property, but this is the one
0:51.2	exception to the rule.
0:52.8	And let me give you a little background on this property.
0:54.8	It's a mobile home park. It's about 50 spaces in size. There is a mixture of tenant-owned homes and
1:01.3	park-owned units in there. I think it's about 30 park-owned units and 20 tenant-owned homes,
1:06.1	which means the tenants just pay the lot rent. They own their home. And then the 30 park-owned
1:10.0	units are just
1:10.9	rental units that are owned by the park itself upon my first discussion with this park owner
1:16.8	you know we talked about details of the park you know the current operations of it and then we dug
1:22.0	into the finances a little bit i didn't have a chance to look at his profit law statements but
1:26.1	i could do really quick math
1:27.9	based on what he told me his park-owned units were renting for on average, what his occupancy levels
	...

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