All Forum Posts by: Colin Kloezeman

For example, lets say you buy a mobile for $5000. Lets say you want to make $3000. So you want $8000 total. They put $500 down and finance the $7500. $7500 at 10% interest for is $347 a month for 2 years (24 months). Now you have to add your lot rent (you should pay this during the lease to own). Say lot rent is $310. So your deal is this, $500 down and $657 for 24 months. At the end of 24 months they own the mobile.

I realize this post is 5 years old, but I figured I might as well reach out. I live in Arizona and the lot rent around me is anywhere from 500-650 a month. An average studio is around a grand and a 2/2 is around 1400 a month. If I have a 2/2 mobile home and want to do owner financing, would it really make sense to charge them 1500-2000 a month?

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Originally posted by @Jerry Lucker:

@Colin Kloezeman

I hate to be the bearer of bad news but after my 20* years in the mobile home business I think you may have invested in the wrong course :)

What would you recommend?

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Originally posted by @Doug McVinua:

I manage a few Arizona properties in 55 plus areas and they typically do very well. The tenants tend to be easy on the property, pay on time and stay put for years.

One 1 bedroom took a little longer to rent out (30 days) but that was one of the few negatives and really was due to the 1 bedroom more than the 55 plus.

Do you have any properties in parks that are not 55+? I have also learned that a one bedroom is usually harder to sell. It is nice to hear first hand that is true. If you would have some time this week I would love to get on the phone a pick your brain a little on your market in Gilbert. I realize you are busy and may not be able to fit me in your schedule, but if you could, I would be greatly appreciative! Thank you for your input regardless.

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Originally posted by @Joshua McFarlin:

What I have read regards the huge boom of the 55+ due to the aging of the baby Boomer generation.

Your retirement community might be different than the national average or review.

Interesting, since the 55+ parks are so Prevalent in my market I am going to start looking into the retirement market a little more. Thank you for your input

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Originally posted by @Debra Arrants:

@Colin Kloezeman Hi Colin, I have listened to hours of podcasts on the subject of mobile homes and in the process of reading Lonnie Scruggs book right now and the consensus is that the 55+ parks reduce your buyers pool too much unless your particular market has a large group of seniors looking for used mobile homes. I am interested in knowing about the course that you have taken and whether you would recommend it? I am currently researching anyone that teaches about buying and selling used mobile homes. Thank you !

yeah from the podcasts that I have listened too they all say to stay away from 55+. I took the course Mobile home university! The course was good but not great . Every modular was a video which was nice but I wish there was more reading involved.

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Hey BP community, I have recently started looking to invest in Mobile Homes in the Tempe, Mesa, and Scottsdale area. I have taken a course of mobile home investing and they made it very clear to stay away from investing in a Mobile home in an age restricted park (55+). Is Arizona an exception Since there is such a big retirement community?

Thank you in advance!

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@markbrogan @RachelH

Thank you for the feedback! I think you guys are both right, I am going to first start focusing in the Arizona area and get a feel for the market, before I make any drastic decisions. I am also going to try and find a local real estate club to see if I can find anyone familiar with the market that would be willing to give me some pointers. Thank you again for your feedback, I really appreciate it!

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Hello,

After listening to the podcasts on BP on mobile home investing and then listening to all of John Fedro's podcasts on mobile Home investing I am eager to find out more. I am extremely new to the market of mobile home investing and would love to talk to someone who has some experience in the market already. I am currently working in Scottsdale Arizona and am paying about 750 a month in rent, and am not saving up enough money to break into the market.

I am considering two options.

1. Stay in Arizona and get a second job and save up until I have enough money to invest in a Mobile home.

2. Move back to Northern California and move in with my parents. Thankfully my parents would allow me to live there for one year rent-free so I could save up as much money as possible and eventually start investing.

The reason for my post is that I would love to get some insight from someone who has invested in mobile homes in either Arizona or Northern California and see which market it would make the most sense to start out in. I realize that most people are not knowledgeable in both the Arizona and Norcal markets, but if you have some insight on one or the other I would love to pick your brain a little bit.

Thank you in advance.

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All Forum Posts by: Colin Kloezeman

Colin Kloezeman has started 2 posts and replied 8 times.

Post: Selling Mobile Homes with Owner Financing

Post: 55* parks in Arizona

Post: 55* parks in Arizona

Post: 55* parks in Arizona

Post: 55* parks in Arizona

Post: 55* parks in Arizona

Post: New to mobile Home Investing.

Post: New to mobile Home Investing.