Still absorbing info- and two worlds collide - Posted by Kate

Posted by Vince on February 10, 2006 at 24:23:28:

Sounds like there might be a deal in there somewhere. Steve has a valid point about the actual income of the property. What does your homework say you’re return is? The 10 yr Treasury bond is 4.5% I would concider that to be your risk free rate. If you are to take on $700k of debt and management you better get paid for it. You will be a buisness owner (profit motivated) as well as an employee (managment-salary motivated) Do you get paid for both Positions? Don’t settle for doing one of those jobs for free. Maybe Lonnie dealing off the owned trailers is a good move (low maint. at the expense or cash flow) or maybe keeping them is good ( more maint. possibly more cash flow) Invesntments are very personal. What is your personal situation? Do you have the contacts to maintain all those trailers? If so, you may have (numbers have to work) a “gold mine” as Lonnie says. this is a great site, Who else has some insight for her?

Still absorbing info- and two worlds collide - Posted by Kate

Posted by Kate on February 09, 2006 at 20:14:06:

I have been lurking for a while now, have gotten both of Lonnie’s books, but have not yet “GOTC”. I have 3 kids under the age of 4 and we just found out my husband is going to be redeployed soon. But I will do it!
So now onto my question- I am actually a Realtor. I keep my eyes open for some land/home deals, and will be doing a couple at some point I know. I was looking through our MLS today and saw, of all things, a MHP! Here is what it says-
“Mobile Home Park - 27 Units - 22 Owned By The Seller - Gross Income Approx $150000 - Additional Space Available For More Homes - “Serious Buyers only” Net Income:$89454.40 Vacancy Rate:5 # Tenants:27 Confiden:N” They are asking $700,000 Since I am still just learning, I am curious what you guys think of this? Thanks!

Too many unaswered questions - Posted by Don Wilson (OK)

Posted by Don Wilson (OK) on February 10, 2006 at 10:08:13:


Do you have any investment properties currently? Do you have the resources to aquire this park? If you aquire will you manage? Is the seller motivated? Will he/she carry the note? As you can see there are many, many questions that would have to be asked and answered before you can move forward. I would suggest purchasing Tony & Scott Course on Small MHP & Land/Home Deals to familurize yourself with this type of an investment. You have to rememmber you make money when you buy a property right not when you sell. When you sell your getting paid for a smart purchase. I hope this helps.

Happy hunting,


hard to say . . . - Posted by Steve-WA

Posted by Steve-WA on February 09, 2006 at 21:01:17:

what are the rents? would a buyer of this park want to keep the park-owned units as rentals, and the maintenance and upkeep that goes with it? or Lonnie off the homes?

I’d think that one with a deployed spouse might want to minimize their maintenance and upkeep, thus valuing MAO based partially on lot rents only, and a reasonable amount added in for buying the park-owned units, then selling them on notes.

What about the park? Is it war zone? 55+? any deferred maintenance? Basically, is there room for improvement … . or is it all done, and they’re selling cashflow?

Depends on what you want - buy, improve, and keep or sell? or buy and hold?

like I know what I’m talking about . . .