Thinking about purchase of MHP - Posted by Frank

Posted by Frank on December 13, 2004 at 15:20:33:

I am a person who use to own a small apartment building with a partner. I had to sell and get out of this as my partner did not want to buy more property to increase our cash flow. In a nut shell, I decided to sell and move on because I was doing all maintenance and repairs and very little cash flow . I was not able to locate any other apartments which cash-flowed as I am in a hot market area. Chicago. I have now seen rents drop because of to many investors coming into the market waiting for property to go up. These type of investors have no need for cash flow. They are now many areas in the city that have 30% vacancy because of all these investors raising rents to high !! This is my theory. I suspect many people may look at mobile homes as am alternative if the rents are more reasonable and they can save money. Can anyone offer a total newbie some advice on MHP. Thanks