The Mobile Home Park Investing Podcast - Real Estate Investing Niche - Ep #52: How To Overcome Due Diligence Challenges Plus Critical Feedback From Our Alabama Park Where We're Using the 21st Mortgage Program to Convert Park Owned Rentals Into Resident Owned Units

Ep #52: How To Overcome Due Diligence Challenges Plus Critical Feedback From Our Alabama Park Where We're Using the 21st Mortgage Program to Convert Park Owned Rentals Into Resident Owned Units

03/14/17 • 57 min

The Mobile Home Park Investing Podcast - Real Estate Investing Niche

On today’s show we are going to cover a recent trip to a park we’re in contract on in the Buffalo MSA. Like most parks, this deal also has it’s fair share of challenges that we’re working through and so we thought it might be helpful if we share our experiences and how we’re working to overcome these challenges.

Also, as an added bonus, we’ll be sharing critical feedback from our first-hand experience of selling used park owned homes using the 21st mortgage finance program. This program has proven much more difficult to we originally expected which has created unexpected challenges in converting our park owned home inventory into tenant owned units. This is a must listen if you’re considering purchasing a park with a large number of park owned units.

Click Here to Grab a free copy of our latest book “The 21 Biggest Mistakes Investors Make When Purchasing their First Mobile Home Park...and how to avoid them
Want to Learn How to Invest in The Lucrative Niche of Mobile Home Parks? Check out our Free Training that Will Teach You The Systems and Processes We Use To Find The Most Profitable Deals. Click Here to Learn More
Have An Interest In Partnering with a Team with a Proven Track Record in the Mobile Home Park Space? Click HERE to Learn More About Our Partnership Opportunities.

Click Here to Grab a free copy of our latest book “The 21 Biggest Mistakes Investors Make When Purchasing their First Mobile Home Park...and how to avoid them
Want to Learn How to Invest in The Lucrative Niche of Mobile Home Parks? Check out our Free Training that Will Teach You The Systems and Processes We Use To Find The Most Profitable Deals. Click Here to Learn More
Have An Interest In Partnering with a Team with a Proven Track Record in the Mobile Home Park Space? Click HERE to Learn More About Our Partnership Opportunities.

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undefined - Ep #51: From College Buddies to Mobile Home Park Investors - How They Bought Their First park and The Methods They're Using To Find Their Second Park

Ep #51: From College Buddies to Mobile Home Park Investors - How They Bought Their First park and The Methods They're Using To Find Their Second Park

On today’s show we are going to be sharing the stage with, George Chen and Mark Sue, both are new park investors who just purchased their first 11 space park a few weeks ago in Connecticut. Both George and Mark are avid listeners to our show and originally reached out to Charles and I looking for advice or ideas on sourcing their second mobile home park, which is how we coaxed them to come onto the show.

And so, not only will be pull back the cover on their very first park acquisition and find out all the nitty gritty details, but we’ll also actively discuss ideas on how they should be best spending their time sourcing that second deal.

Click Here to Grab a free copy of my latest book “The 21 Biggest Mistakes Investors Make When Purchasing their First Mobile Home Park...and how to avoid them
Want to Learn How to Invest in The Lucrative Niche of Mobile Home Parks? Check out our Free Training that Will Teach You The Systems and Processes We Use To Find The Most Profitable Deals. Click Here to Learn More

Next Episode

Ep #53: Making The Decision to Invest Locally Over Investing Logically and How This Can Negatively Affect Your Business

In this episode, Charles and I will discuss mistake number 8 from our popular eBook, “The 21 Biggest Mistakes Investors Make When purchasing their First Mobile Home Park...and how to avoid them.” One thing we see often is that many investors will choose to look for parks locally for the sole purpose of being near the park. There is nothing wrong with being close to your park, but you definitely don’t need to be. If you find that you live in a market where CAP rates are insanely low or in a market that is going through tough times, you would be much wiser to invest outside of your immediate area.

The business model and management style we teach is effective whether you live across the street from your park or across the country. Don’t put yourself in the position of buying a bad investment just for the sake of being close to it. Proximity does not correlate to success in this business.

Click Here to Grab a free copy of our latest book “The 21 Biggest Mistakes Investors Make When Purchasing their First Mobile Home Park...and how to avoid them
Want to Learn How to Invest in The Lucrative Niche of Mobile Home Parks? Check out our Free Training that Will Teach You The Systems and Processes We Use To Find The Most Profitable Deals. Click Here to Learn More
Have An Interest In Partnering with a Team with a Proven Track Record in the Mobile Home Park Space? Click HERE to Learn More About Our Partnership Opportunities.