All Forum Posts by: Joe Brady

If the park owns any of the properties then the offer I make gets a lot tougher.

Park owners that I have come across tend to value the homes at more than they are worth. If the home costs them 10k and they have a tennant then they try to add the home as an asset AND count the income as profit. The people I am trying to buy from tend to not be the best at what they do....or they would keep doing it!

I also have a full time job, so I don't want any extra hasstle here. I also am lacking funds on this hence the "seller financing" approach I am going after. I don't want to have to put any more time, money, or effort into this as possible since I am so far below a newbie that I don't even know what to call myself!

If I am still not able to find a park to buy, then I will have to edit my requirements and stratigies but this is where I am starting. Every call I make gets me some new insight and more direction on what I am looking for.....so I may have a new floor plan tomorrow!

@Sabrina Laplante,

Looking at parks with about 30-125 lots.

Any bigger than that and they are usually corporate owned and would not be receptive to my creative financing ideas, and any smaller than that and the margins are way too small.

My target has been about a 45 minute radius of where I live here in Omaha Nebraska. Since it is my first one I want easy access to make sure things run smoothly. I also have only been calling parks that do not own any homes, as this complicates matters further. 1 or 2 is ok, but beyond that and my conversation ususlly ends!

@Sabrina Laplante,

Hi Joe, and welcome to BP, what a great community with some very great information. One quick question, are you cold calling these parks or looking for ones that are already for sale?

I have been cold calling, ones that are already for sale have to pay a listing agent usually and that drives up the price. I have called listing agents and listed properties, just to get a better feel for the industry and see what type of deals are typical. I also called a national company that lists the parks and asked to be called if seller financed parks come up....figure it is a long shot but better than nothing!

What I would like is to be the first person that offers to buy a property, so it is getting the seller thinking not starting a bidding war that I would loose!

Also, most of the time if they are listed they have a note on the property they need to pay off so seller financing is out of the question.

Do you have any experience in this? Help and advice is needed/accepted!

I am just starting here in Omaha, NE too!

Seems to be a very promising market with lots of oppertunities. Good luck!

Just starting off in the real estate investing world.....there is a lot to learn!

I have been attempting to find and purchase a Mobile Home Park that would be 100% seller financed. Seems like a 3rd grader attempting a Grand Slam in the Majors!

Still making offers on those, but now I am also attempting to buy houses for cash and sell quick for small but frequent gains. Lots to lear about this process and the do's and don'ts, then I found this site! Looks like a lot of simialar minded people, ought to be a few good ideas that come from such a gathering.

I have been reading and learning, thanks in advance to anyone that helps me out. I have already read a few great ideas that I have adopted into my strategies.

Hello all and thanks again!

Joe B