Went from 3 rentals to 15 in 1 year

[Joseph Wilkins]

Investment Info:

Other buy & hold investment.

Purchase price: $60,000
Cash invested: $20,000

15 Unit Mobile home park

What made you interested in investing in this type of deal?

Expanding, i went from having no room to expand since my debt to income was maxed at 3 properties to getting 15 units and plenty of expanding room.

How did you finance this deal?

Private Lender & Cash from selling 2 other properties

How did you add value to the deal?

It was worth twice what i payed for it before the upgrades i have done

What was the outcome?

1 year later i went from 3 rental units to 9 and have potential to add 6 more units

Lessons learned? Challenges?

Mobile home parks are more return for your money since they are all located on the same property the taxes and all other upkeep cost are minimized, compared to rental properties that are all seperate

[Rock Stevens]

Joseph, thanks for sharing your recent acquisition! I wish you success and it sounds like you got an incredible price. $60k for a 15 unit mobile home park equates to $4k/unit, which is outstanding! We have only purchased apartment complexes thus far (1,500+ units), but have strongly considered alternative investments like mobile home parks, as long as the numbers make sense. Happy to see how this turns out for you, keep us updated. Best of luck, safe investing!