Hello Bigger Pockets!

[Jim Johnson]

Well, this is a great board and I am happy to be a member. I have a long list of real estate experience. I bought and flipped my first home in 1992 and have been engaged in real estate ever since. Several years later, I discovered how little real estate brokers knew about investing. I just knew I could be a better Broker, so I set off to real estate school. Soon after I hung a license at a RE/MAX office, and set off representing my own purchases and others. Always knowing the real money was not in representing deals, but in owning them I was a very active buy and flip person in the Denver market, with a full time crew for many years. As the market peaked, I saw the writing on the wall it was time to pull back as the bottom might fall out soon... well 3 years later it did fall, and I was lucky to be sitting in a rentals that I owned at less than 50% LTV... and cash. In that wait and see time, I began buying and financing mobile homes. In 6 years I have done hundreds of "Lonnie Deals", and still manage my portofilio of notes. Seeing real value in the Mobile Home Park business I studied the market for several years and pulled the trigger on my first park in early 2008. I now own 4 parks, and have 3 more in the contract phase. My opinion: once you really understand how to increase income, reduce expenses and have that net yearly gain added to a property that is valued on a CAP rate, you will never look at real estate investing quite the same.
I am blessed to have the opportunity to be involved with The Mobile Home Park Store and have been a presenter at every boot camp they have taught. I spoke at the Mobile Home Park Summit in Anaheim CA in early 2009, and I actively Co-Admin their Mobile Home Park Forum and their private Forum for Boot Camp participants. Prior, I was a Co-Admin at another forum.
I have dumped my real estate license and now just invest in mobile home parks nationwide, manage my portfolio of mobile home notes and manage my Denver "stick built" single family and multi family rentals. I look forward to contributing to the forum.
Jim Johnson

[Kevin J.]

Welcome to BP JIm

[Dick Green]

Hi Jim!

Welcome to the group. Great intro! I'm looking forward to chatting with you.

What are some basic ways to locate good mobile home park deals?

[Will Barnard]

Welcome to BP Nation Jim, glad to have you. We all look forward to hearing more detials about your mobile home park investing (the "Lonnie way")

Will B
Nationwide

[Jim Johnson]

Originally posted by Dick Green:

Hi Jim!

Welcome to the group. Great intro! I'm looking forward to chatting with you.

What are some basic ways to locate good mobile home park deals?

Dick,
Great question... really I use several ways of locating parks. The easy way is through internet searches. The real deals though are found by locating the parks, and contacting the owners. So I have a database of about 45,000 parks nationwide and I send postcards, mailings and call the parks directly. I should add, I get leads for real estate brokers, other investors etc. So I pay referral fees, bird dog finder fees and the like for deals that are brought to me. I also have other investors bring me deals they have located or are under contract with to partner on. So lots of ways to find the deals...

[Joshua Dorkin]

I guess I probably should welcome you to the site, Jim, even though you've been here for a bit!

[Tony Walker]

Welcome aboard Jim.

[Jim Johnson]

Originally posted by Joshua Dorkin:

I guess I probably should welcome you to the site, Jim, even though you've been here for a bit!

Thanks Joshua,
I like to walk in, look around, test the water a bit before opening up too much. You have a good site here, which as you know is not the case across the board. Since your in Denver, someday we will have to meet up for lunch.

[Joshua Dorkin]

Sounds good! I appreciate the sentiment.