Don't be afriad to start small

[Logan M.]

The picture below is my smallest mobile home park community.

It isn't flashy, it isn't something I brag to my Mom about, it is a solid park that pays every month.

Many investors are drawn to this idea of buying large multifamily properties but let me break down a few terms on this park.

-Purchased 0% down

-5-year term

-6% interest only payments

-Sale included ownership for all 6 homes

This small 6-space park cashflows about $2,000/month and rents are far below market.

My biggest suggestion to anyone starting in the mobile home park space is to not be scared of some of the small but solid deals, don't overlook them, and think of them as a small step in your investing journey.

[Mike Reynolds]

I’m not afraid to buy the small ones either. I don’t have one that small but I’m not against it either. It’s all about the numbers. 

Mine has to cash flow with just the lot space though. I don’t want to be a landlord, I want to rent parking lot spaces. All of mine are OOS (so far) so it has to be big enough to make it with my time.