All Forum Posts by: David J Pring III

@Stephen Brown thanks for the message and sorry I didn’t add the location. The location is in Pennsylvania. I am currently located in TN but will move back home close to this park in PA once I retire.

Looking for some advice/ help.

I am about to retire from the military with 20+ years of service and ready to move on to my next adventure. I would like to purchase a mobile home park that I found that I believe has a lot of upside. The rub is while I am still in the military many investors don’t take me seriously because I am not in the area yet and finding funding has been a hurdle. I am looking for advice on how you or someone you know was able to secure financing for a mid-sized park and hopefully I can figure out how to get this done.

The deal:

40 spaces available 25 filled

All double wides

City sewer

Park has multiple wells (water is good)

Recently paved streets

Comes with an additional 3 acre lot with maintenance buildings

Comes with another 25 acre lot that has the infrastructure to develop complete

Owner is asking 800k

Willing to owner finance with 100 down but wants me present to self manage. I would like to purchase and have my father manage it for me until I get home in about 20 months.

I can come up with about 40k cash and I own another rental valued around 165k that I could put a mortgage on to get the rest of the cash.

Anyone out there with mobile home experience that is willing to reach out and share some ideas would be greatly appreciated.

Dave

@Dorothy Butala, and anyone else in the area, I will be in town at the end of the month and would love to meet up to discuss real estate and perhaps make new friends and partners. If anyone is interested in doing something in the Erie, PA area let me know and let’s get a coffee or beer and talk. I will be in town 26 October through the 1st of November.

@Dorothy Butala

@Joe M. At this point multi-family duplex or Tri sounds beat to me but if the numbers were right I would take a single family.

Are you in the Area?

@Dorothy Butala how are you going about finding property in the Erie area? Let’s talk.

Dave

@Sarah Huffman congrats on the deal, I would like to chat and see how it’s going. I am interested in a MF deal, but have been out of the area and would be interested in hearing what has went well and wrong for you.

Please reach out

Dave

Just getting started on BP and would like to begin networking and linking up with people who are driven and have common goals. I have dreamed about real estate investing for a long time and it is what I plan to do full time once I retire from the military in about three years. I was born and raised outside of Erie, PA and hope to return to be close to family again.

I get home a few times a year and would love to set up a meet a greet for anyone interested in getting together to discuss potential deals or share experiences with investing in and around Erie. I am thinking this fall will be the next time I get back (October). I am starting early to see if there is any interest in doing this and hopefully have a decent turnout. We could do a morning thing or evening makes no difference to me.

Please let me know what you think

Dave