3 No-No's of Mobile Home Park Investing

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Mobile Home Parks can be terrific investment opportunities for individual commercial investors, especially now with the increased demand for manufactured homes due to the affordable housing crisis. However, too many commercial investors are missing opportunities and in this video, you'll discover the "No-Nos" of mobile home park investing:
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0:00 No-No #1: Rejecting Deals with Park Owned Homes
4:39 No-No #2: Rejecting Deals with High Vacancies
8:37 No-No #3: Not Having an Exit Strategy

Опубликовано:

17 июл 2024

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Комментарии : 71

@CommercialPropertyAdvisors Год назад

Get step by step help investing in mobile home parks by applying to our Protege Program: www.commercialpropertyadvisors.com/protege-program

@AbateAway Год назад

Thank you Mr Harris

@Law19157 3 года назад

I very much appreciate your videos sir. I've purchased your book and am in the process of acquiring my real estate license here in the San Francisco Bay Area.

@frankkilgore5940 3 года назад

Be careful doing this......it will only work in a mobile home Community..... not a mobile home park .....always check your location ....some places will not Allow you to sub sale parts.....unless it's a mobile home community....like where I'm at......don't get me wrong Peter's great...and I've learned a lot from him and I'm still learning from him .....just always check your local codes ...

@gj4king1 Год назад

Any books or resources you recommend to learn mobile home investing?

@Bibby723 Год назад

.....

@fascinationmama 25 дней назад

thank you for telling us

@emmanorman4404 7 дней назад

This right here. Sometimes vacancies are vacancies. It’s all about the market.

@recyclespinning9839 3 года назад

Thanks good info, and the way you explain it is really great..

@ponzianomanning3071 3 года назад

Great video again Peter! How has covid changed the hotel/motel and office space rental markets today? Thank you for all your marvelous teaching content!

@followedbygrace 2 года назад

Thank you! This is very helpful and easy to understand.

@mariodattilo 2 года назад

Great content. We own mobile home parks. Careful on the seller financing of homes with Dodd frank laws. Get legal counsel before doing seller financing. Overall great video.

@agingacademy 2 года назад

What is best method for finding mobile home parks for sale?

@mariodattilo 2 года назад

@@agingacademy brokers, wholesalers, direct marketing etc. same as any other property type. I did an entire episode on my channel about the top ways we have bought them so I would recommend checking it out.

@davenstorm7271 2 года назад

@@mariodattilo Hello I was wondering will banks finance a mobile home park and if so for how long ?

@mariodattilo 2 года назад

@@davenstorm7271 I did an episode about financing mhp’s on my channel so check it out. Banks typically do 15-25 amortization with 3-7 year fixed.

@davenstorm7271 2 года назад

@@mariodattilo So your saying that banks will loan the first 3 to 7 years on a fixed rate and the other 25 years on a adjustable rate ? Cause Amortization is the break down of the monthly payment. I'm not understanding,?

@SteveDab317 2 года назад

Thanks for the great content! (also, I had the pleasure of being the 1,000 "like" on this video" 😀

@caut176 3 года назад

GEMS!!! Thank you so much.

@MRTransactionEngineer 3 года назад

Better is the best! Thanks Boss!

@florencebamideleorji5899 3 года назад

My Best Teacher life.

@ivansbaby69 Год назад

😅great video and I learned alot but the no 2 no no you need to check the areas population over the last 20 years because if you have empty pads in your community it may be the cause of jobs leaving the area and industry leaving the area if that's the case don't buy the mobile home community

@glavalley85 3 года назад

Peter thank you. Going back to concern number 1, doing rent to own on POH where does the safe act and Dodd frank act come into play and what is the solution?

@steffie6510 2 года назад

Good information thank you so much

@JohnRodriguez-en3ik 2 года назад

Thank you

@SuccessNothingLessco Год назад

Great content and video!

@zazabawabenlewi6673 2 года назад

pita keep up the good work very inspiring 👍

@dangerusscurvs4709 2 года назад

This is sooo bomb. I got some ideas brewing on this one..

@zehuazhou3390 2 года назад

Do you get a property manager for the mobile home parks? I am concerned with the potential safety risks if I own a mobile home park. What do you think? Is it better to own 55+ mobile home parks only?

@sofi4148 Год назад

I have a property which I plan to turn into a park. do you have a video explaining how to prepare the lot for about 5 spaces? or how to start one from scratch where there's nothing?

@mackay259 3 года назад

Re: Titus & Clayton Mobile Homes, where do they ship? Which states. Long distance is costly.

@trenth5547 Год назад

I am entertaining a 23 park owned, 2 tenant owned, 5 vacant plot mobile home community. This helped a lot, the POH scared me, but now it seems more doable. The price is higher of course because of the homes it come with, not really what i want. How would one negotiate the price with that in mind (to the seller)?

@docimma Год назад

I have wanted to do something similar but with tinyhomes on wheels. Add a glamping resort to it.

@tracythompson1692 7 месяцев назад

Interesting. Subscribed. You remind me of Jeffrey Taylor!

@AB-sy9tf 2 года назад

for point #2 I assume that the MHP owner is responsible to insuring the MH purchased on a line of credit?

@yunngkhalifa Год назад

What’s your opinion on starting a luxury mobile park & renting all through Section 8?

@sandramcphee9943 2 года назад

So am I better off selling my park with everything done except having the trailers brought it??

@angelabland7773 2 года назад

I NEED TO SPEAK TO YOU!!🙏🏽👏🏽

@serg.r4860 2 года назад

How good of an investment would a large lot with 8 small houses on it be? Can it be just as good as an 8 unit apartment building?

@AB-sy9tf 2 года назад

With point #1, isn't it still a risk to purchase a MHP with park owned homes? How do you convince the tenant to purchase it? They already know that the mobile home is likely to be old and heavily depreciated. What kind of terms would a bank want to risk on a 5-10 year loan?

@cloudedjourney 2 года назад

Even if you sell them for very cheap the responsibility all ends up with them to maintain or remove if it falls apart. Makes the purchase look better to a lender as there is a lot less liability.

@debrahuynh4574 3 года назад

What states do you recommend to purchase mobile home parks for beginners? What website do I go to?

@CommercialPropertyAdvisors 3 года назад

Stay away from hurricane zones as that could ruin your investment quickly. Otherwise, focus as close to home as possible so you can look after the property easily.

@mikeschroepfer8956 3 месяца назад

It is a part of your business plain to raise the rent anually on tenants on a fixed income?

@ED3 2 года назад

POH = No Rent control on spaces. Best to Convert to Rv long term stay. Less trouble. We own 2 parks.

@powerofme7144 Год назад

How did you transition to RV long term stay? Or was it that from the beginning with no POH mobile homes?

@roseannakyle1275 2 года назад

Thank you for this amazing information!! Question... Can a 1st-time investor get the Fannie Mae or Freddie Mac loan? Can I get loans from Private or Hard money lenders?

@egod7m995 5 месяцев назад

How to finance a mobile home park???

@erettaperry9273 2 года назад

Where are you located?

@sepperso 2 года назад

What In the world do I do with a 9 home deal, 100% POH's ??

@ED3 2 года назад

POH IS NO RENT CONTROL ON SPACES😀

@sepperso 2 года назад

@@ED3 this didn't make any sense

@joerobinson8997 2 года назад

not bad

@michaelbatista2869 2 года назад

Letting the home go to the tenant buyer causes the income for the property to drastically drop once they pay it off. Would you recommend putting a clause in the paperwork that says once its paid off that the tenant buyer has to move it off of your lot? Gives you the flexibility to bring in another unit immediately to keep the cash flownin line.