All Forum Posts by: Daren Jones

@Noreen F Connolly I think this is a great way to get involved with parks and agree that parks are a great asset class. There are funds you can invest through or REITs. Obviously two different investment vehicles so do your research and see what works best for your scenario and tax situation. Sometimes you can get "extra" tax benefits like bonus depreciation on funds, if it is even a variable that matters to you. .

Some funds that deal with this space are Open Door Capital which is from @Brandon Turner from right here at Bigger Pockets. There are also funds that Three Pillar Communities and Park Street Partners open up. These are just three, there are many more.

With REITs you have several options too, like Sam Zell's Equity Lifestyle Properties ELS or Sun Communities SUI, just to name two of the biggest.

Either way, best of luck in your investing!

Good point Mason. I know better than to assume but I was hoping it was sewer. I agree that septic might be tough. 

I am developing an RV Park that is within a floodplain in WA state. Like Mason stated I am unable to build anything permanent, i.e. structures. There are also several MHP's in the area that are requiring only an RV to be placed when a movie home is removed, when in a flood area.  

RV's can be started and moved or towed if there is a flood, not sure why the city would have an issue especially if a MHP was already there. 

Awesome city by the way Ryan, I was down there in October. Had a great time! 

@Chase Olson. I purchased an 82 space MHP in OR. It had several units that had to be removed and almost all of the homes the park owned I gave to the tenants (tenants I wanted) for free or at a very low price. I think if you can negotiate the right price point, for you, don't let the looks and poor management get in the way of what you feel can be a good deal. I agree with @Rachel H. Make sure you have the systems, time and people ready to go and know what you are getting into. Make sure you look at the requirements for a dealer license in OR to even give the homes away to the current tenants. In OR you will need a tax certificate from the county stating taxes are paid (within 23 days) and turn that into the state with the correct forms as well as $55 and the home is then the tenants. Biggest variable to me is before doing this, make sure you even want these tenants in your park before you give them the trailer. Good luck.
 

@Mike Luebbers In the past when I purchased a small park I used a small local (close proximity to the park) community bank. Good luck.

Hi, @Paul Laufer welcome to Bigger Pockets. I am sure you will find a lot of helpful information about 1031's on here and meet good people with common interests in the Spokane area as well. In the meantime, I live in Orting as well. If you have any questions feel free to reach out.

@Lane Kawaoka what is the investment you are looking for on this? Do you have additional information? 

@JJ GONZALEZ II can I ask how your loan is proceeding or if it closed? Curious to see if this is a lender you would recommend? I have a park non-stabilized MHP I am looking for financing on. 

@Ryan V Hill, congratulations on your Kansas MHP. I agree they can be a good investment. 

@Nick Maugeri, I like the mobile home park opportunity only if the 5 acres is zoned properly and entitlements are in place or at least could be in place. Would also want to make sure you have all of the engineering ready so you know exactly what type of cost you will have for all of your infrastructure along with the reserves to infill the spaces once they are developed. Yes, this is a huge undertaking but can be completed as long as you have worked the numbers.