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Where are all the Mobile Home Park Investors?
HOT! REAL ESTATEGreat question! The residential property is recorded with the local municipality with a deed of the real property (land and improvements). Due to this you have to go through civil court in order to repo not only the improvement but also the land itself. Mobile homes are considered personal...- Major
- Post #52
- Forum: Real Estate Investment Forum
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Doing what others don't, to live like others won't.
Doing what others don't, to live like others won't.- Major
- Profile post
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Where are all the Mobile Home Park Investors?
HOT! REAL ESTATEHey everyone! Wow I am really excited to see so many people interested in this thread and having an interest. I just got back to civilization with wifi from being at the lake house this past week (reason for delay). We are fixing that issue this week. The first post I typed out like a madman...- Major
- Post #47
- Forum: Real Estate Investment Forum
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Where are all the Mobile Home Park Investors?
HOT! REAL ESTATEI live by one rule moving forward in my real estate carrier.........I DO NOT RENT ANYTHING....(unless it is strategic). Renting puts your pocket to the exposure of retinue maintenance and higher tenant turnover. The best way to display the difference between a renting tenant vs a purchasing...- Major
- Post #46
- Forum: Real Estate Investment Forum
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Where are all the Mobile Home Park Investors?
HOT! REAL ESTATEWish I could have met him. So you must be located in tidewater area....I sent you a direct message.- Major
- Post #45
- Forum: Real Estate Investment Forum
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Where are all the Mobile Home Park Investors?
HOT! REAL ESTATEThanks.... Hope I inspire someone to take the plunge.- Major
- Post #44
- Forum: Real Estate Investment Forum
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Where are all the Mobile Home Park Investors?
HOT! REAL ESTATEI use a rent credit program. Essentially the same thing as a rent to own however there is no interest therefore by passing the act. Also, any individual or company is legally able to conduct up to ten installment sales a year without having to be Dodd Frank compliant. Ask your attorney if you...- Major
- Post #43
- Forum: Real Estate Investment Forum
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Where are all the Mobile Home Park Investors?
HOT! REAL ESTATEThat is a great point. Yes in the beginning I flipped my mobile homes within mobile home park communities. This was due to two reasons. Management and low cost to entry. You are correct. When purchasing a mobile home within a park, you are effectively purchasing a the improvement (via the mobile...- Major
- Post #42
- Forum: Real Estate Investment Forum
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Where are all the Mobile Home Park Investors?
HOT! REAL ESTATECome to the dark side. It is really a rewarding industry...- Major
- Post #41
- Forum: Real Estate Investment Forum
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Where are all the Mobile Home Park Investors?
HOT! REAL ESTATEMajor, i am about to give my first LOI on a park. I can assume current debt and the owner has offered additional funds. I also have a private lender who verbally gave an OK to fund the rest (subject to verification of the books). This would be "zero down" deal. Seeing as i'm new (read that...- Major
- Post #40
- Forum: Real Estate Investment Forum
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Where are all the Mobile Home Park Investors?
HOT! REAL ESTATEIt really depends on how many lots there are to manage and my tenant turnover. For my smaller parks I manage them by mail and larger parks (40 occupied lots or more) I hire a manager to do the daily duties of upkeep and hounding tenants for rule violations/late payments.- Major
- Post #39
- Forum: Real Estate Investment Forum
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Where are all the Mobile Home Park Investors?
HOT! REAL ESTATEThanks for the comment!! Yes it is a great opportunity in an unsaturated market. This is not your average radio get rich quick real estate scam. There are plenty of ways to get involved without having to jump all in like I did. I know plenty of people who started out as just passive investors...- Major
- Post #5
- Forum: Real Estate Investment Forum
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Where are all the Mobile Home Park Investors?
HOT! REAL ESTATEThanks for the comment. The best deal are off market, like in any business. I agree, once a broker get his/her hands on a mobile home park listing the price skyrockets. However, the cash on cash returns and low overhead are unmatched in any other form of real estate (except maybe for NNN land...- Major
- Post #4
- Forum: Real Estate Investment Forum
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Where are all the Mobile Home Park Investors?
HOT! REAL ESTATEHey guys, been a little while since I have been active on this forum. This a great site. Have learned alot from many members on this forum. Just finished closing on my third mobile home park purchase and am loving it. Have 6 more in the pipeline coming up. This journey started five years ago...- Major
- Thread
- flipping mobile home mobile home park mobile homes no money quit my job real estate seller financing trailer park
- Replies: 143
- Forum: Real Estate Investment Forum
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I've Read UNSCRIPTED!
GOLD! HOT!Read Unscripted!! Not, going to lie, thought it may be an added play to the Fastlane Millionaire....Boy was I wrong. Outstanding standalone book with raw unscripted truth. I wish this were available to me in business school. Sad that these teachings are not more readily apparent. But, it...- Major
- Post #256
- Forum: Books and Educating Yourself
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With the help of the all mighty universe this deal will close in 48 hours.........big news to...
With the help of the all mighty universe this deal will close in 48 hours.........big news to follow.- Major
- Profile post
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Was able to make a profit by making someones day, today.....
Was able to make a profit by making someones day, today.....- Major
- Profile post
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Private Money Lending & Wealth Preservation
Sorry, should have been more clear. The lender is a local community bank I have a relationship with. They have approved for 75% of purchase price (park appraised higher) and do not mind a second position not holder. The bank simply wanted to show that myself as buyer was liquid enough to cover...- Major
- Post #11
- Forum: Mindset and Self-Development
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Private Money Lending & Wealth Preservation
JScott, Have you considered lending for a bridge loan? It took me almost 3 weeks to find an individual who would lend money for the down payment of the purchase I am doing this coming week on a mobile home park. The loan itself is held by my attorney who is drawing up all the paperwork and...- Major
- Post #10
- Forum: Mindset and Self-Development
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