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Thread: Mobile Home Investing

  1. Feb 4th, 2012, 07:26 AM #1
    roc
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    Default Mobile Home Investing

    Hello everyone i'm looking into buying mobile homes and becoming the note holder strictly. My problem I'm running into is that the parks I have called do not permit the units to be rented out, when I explain to them that I'm strictly acting as the bank the rep, usually the secretary gets confused and tells me no.

    I guess my next step is to call again and speak with the park manager. Thanks roc
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  2. Feb 4th, 2012, 09:22 AM #2
    G-man422
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    Hey Roc,

    I have run into similar problems. I have found the best way to explain it to let the park manager know you are essentially the bank holding a mortgage on the home. The majority of MHs in a park are/were mortgaged at one time without an issue. It makes it easier for the manager to understand it this way.

    Have you read Lonnie's books?
    If you don't mind me asking, what geographic market are you operating in?
    "Fortune favors the brave." - Virgil
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  3. Feb 6th, 2012, 09:42 PM #3
    roc
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    I'm going to make a list of all the parks near me, and try to talk to each park manager. I own Lonnie's book, which is an awesome read not only for MH investing, but for notes alone. I'm operating out of SE PA. Hit me up on a PM, if you want to discuss it more. Thanks roc
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  4. Feb 8th, 2012, 06:21 PM #4
    CashFlowDepot
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    Don't rent the mobile, sell them with seller financing then the park will have no problems.

    And it is ALWAYS always better to go visit with the park manager, take time to visit first, then start talking about your game plan. If you don't make friends with the park manager you will never get to first base at the park.
    Jackie Lange
    Cash Flow Depot & Extreme Success Group
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  6. Mar 12th, 2012, 06:43 PM #5
    roc
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    Thanks everyone!
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  7. Mar 12th, 2012, 08:17 PM #6
    cashflow3000
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    Hey roc -

    If you haven't yet, you may want to check out the Mobile Home University website.

    Good quality information from people in the trenches.

    Have fun, and good luck!

    Mobile Home Park Investment Education - Mobile Home Sales
    "Every person is self-made, but only the successful are willing to admit it." - Micheal LeBoeuf
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  8. Mar 13th, 2012, 08:52 PM #7
    roc
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    Thanks
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