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Updated over 9 years ago on . Most recent reply

User Stats

99
Posts
52
Votes
Jen Faulkner
  • Peoria, IL
52
Votes |
99
Posts

Meeting the park manager/owner

Jen Faulkner
  • Peoria, IL
Posted

Hi everyone!  I'm new here, and I'm not even sure if I'm posting this in the right place. My husband and I have been landlords since 2008 and have five units locally (four apartments and one house), but I've recently really been getting excited and interested in the owner financing side of mobile homes.  I've read a lot of books, and I'm in the process of getting some paperwork together so I can be ready when something does happen, but it's time for me to go meet the park managers now.  So, here's a question I posted in a Facebook group that I'm in, but the group is small and no one has been very helpful.  Maybe someone here can answer my question . . . and other suggestions are welcome!   :)  I've actually asked a lot of other questions and gotten answers, so this question is just a spin-off from some other conversations I'd had with other investors, but no one answered this one.
"Is there any benefit to two people going to meet a MHP manager together, or does that come across as too aggressive? I can see how one-on-one can seem more personal, but I ask because I just recently noticed how many mobile home parks we actually pass on our five-hour drive to visit our son who lives in another state. Funny how you notice all these MHP's when they're on the brain! I'm pretty sure they weren't there before. lol We just visited for his 21st birthday this past weekend, and we hope to visit him again in a couple months. We would love to go meet a couple of the managers on our trip, but I hate to tell my husband to go drive around for a couple hours while I go in and chat with a manager. Haha. Since we're traveling together, it makes more sense that we would both go in, but I don't know if that's a positive or a negative?"

Most Popular Reply

User Stats

328
Posts
251
Votes
Bill Neves
  • Flipper/Rehabber
  • Vancouver, WA
251
Votes |
328
Posts
Bill Neves
  • Flipper/Rehabber
  • Vancouver, WA
Replied

@Jen Faulkner

Howdy. Going in as a couple has worked well for my wife and me. More personable. They can make or break working in that park. We have done several very nice deals in parks at the manager's referral. Some were from the manager and park that needed work. Some were a referral to go talk to a resident interested in selling.

We do almost all our deals for cash so no Dodd Frank issues. And if financing is needed, there are several companies who will finance mobiles in parks. Google search. They finance the purchase, so you're out of it.

One mobile home private lender in my area has his own mortgage loan originator who works exclusively for him. You can also get help at your local real estate investor club.

Have fun!

  • Bill Neves
  • Loading replies...