All Forum Posts by: Account Closed

 Do your own research and find out.  Run the numbers until you can understand and make sense of them.  Educate , educate , educate the heck out of it.  It took me several years to come to terms with the business but at one point something clicked and it all made sense :)

@Ian Turner

Just a few observations.....

Typically the town you are describing is one that I would stay away from investing in ( very rural and employment depends on one company). Should anything happen to the federal employer..... poof . 

I would figure out who is living in those other RV parks and what is driving demand there. 

I  personally would not touch this for mobile homes (brining in 8 homes will cost a lot) and I'm also making the assumption you are on city utilities.  Too much risk, too much capital outlay, and you may not capture what you have into it upon resale. 

I don't know RV's but if everyone else offers all inclusive, you may be at a disadvantage if you want them to setup service themselves when the park down the street lets me pull in and hook up while your park makes me jump through 10 hoops. 

The only way I think something like this makes sense due to the risk involved is if you can be put on an accelerated ROI schedule where you can recoup all of your money in 2 or 3 years.

Again, I would not go for it, but those are some of my thoughts pertaining to this. If you do go for it, you need to get it much cheaper than where its at I feel....

@Jay Hinrichs

Absolutely , I have heard from the grapevine that there is a large apartment owner who currently preaches buying apartments all while dumping almost an entire portfolio with 1,000s of units :) 

Be cautious and think for yourself and at the same time, don't be scared to listen to others who you think are smarter than you :) 

@Ken Rishel

Great info on the resident owned communities.  

@Karen Margrave

And there we are, words from a developer :)

There is a post somewhere here that @Ken Rishel made about developing parks/ buying established parks and the verdict was that buying parks is probably a better idea than developing them.

So again, can you do it? Sure but why not follow the path of lease resistance :) 

Chris,

Always good to question motives , it makes you a good investor. 

As of a few months ago, on a weekly call,  Frank mentioned their fund were not accepting new capital at the moment.  So that is an obvious one but for the sake of your boot camp if that information is still accurate, you can not invest with them through that method ( though that may have changed now and it knocks it out of the running for your suspicions. 

Im sure you are right they want to increase the value of their holdings through education on the industry.  But rather than stating it that way, if this is an underpriced asset class, they are just trying to bring market pricing as their portfolio that may be currently undervalued due to stigma and mis information.

As you know , they won't sell you anything else.  You know have Franks numbers so you can give him a call, he is not charging you, just helping.  I was working on a park one time having dinner, sent him an email and then a bit later he is calling me telling me a logical plan of action.  Im not sure where he gets time for everything but don't believe me? Give him a ring and get some feedback from him.

I have had the privilege of working with Franks group.  For what I have paid on the bootcamp, I have been repaid many times over.  So if there is a catch, I am still looking for it. He is not just selling theory, Frank is out there doing deals every day within his group.  They are a very disciplined group of investors.  If they were trying to pump an asset class, they would push you to overpay say at an 8 cap etc but they are firm on their 10 caps ( along with a lot of other caveats).  He also gives the additional caveat that caps are a function of interest rates so if rates are 8 perecent, they might say you need to buy 13 caps.  Until they are saying you can get by on a 2 point spread (ahem , apartments anyone?? ), that is probably sound logic. 

Its not just mom and pop in the industry either.  Lots of deals happen between investment groups. 

If you will look at some other small startups that have already grown 10 million plus dollar portfolios, it was headed from a Frank and Dave bootcamp.  There is tremendous opportunity in the park space right now. Im not sure if it will be that way forever.  If you look long enough, you will find stories littered with people making a lot of money through Frank and Dave's educational materials. 

As for the news cameras...... that seems to be pretty common place now.  They don't ask them to leave. If you will do a search on Guardian Frank Rolfe, i believe they were the ones that did bad publicity from a boot camp.  So they risk scrutiny as well but I think its to have a level of transparency and education ( not sure if thats their goal) as opposed to having a closed door policy.

Shelli,

Are you saying there are no parks in your area?  Just to clarify, most things are for sale but what you maybe meant was not "listed" .  Striking up a conversation with those park owners can lead to potential opportunities so keep that in mind :) 

Buying an established operating park is a different business than development.  There is a tremendous amount of risk in development.  Its going to cost a lot more in required capital and a lot of the best locations will make it challenging to do if you can even make it prohibitive.  I don't know what development costs are exactly, but you can buy empty parks for substantially less than what I would estimate development costs are .  When you can do that, why would you want to go through it.  

I can think of almost no angle where it makes sense. Im sure you can be the one off person succeed but why go through all that struggle when there are 5 better paths? 

 Have fun Chris. It will be great perspective.  Im looking forward to you coming back and agreeing with me :)   Let us know what your thoughts are AFTER the weekend to your own question! 

 Have fun Chris. It will be great perspective.  Im looking forward to you coming back and agreeing with me :)   Let us know what your thoughts are AFTER the weekend to your own question!