Four ways I have lost money investing in mobile home parks

[Logan M.]

I want to focus this post on issues that have cost me money that were avoidable.

#1 Fires, I have lost three homes to fires. Two were caused by humans. I should have insured the homes, sold them, or done something to mitigate this risk.

#2 Selecting bad tenants, there is nothing worse than selecting a tenant that pays you a deposit and months' rent then refuses to pay you again.

#3 Allowing a tenant to pay a deposit via a non-profit.

#4 Not charging big enough deposits for nicer homes, I have had many recently renovated properties that tenants have destroyed.