All Forum Posts by: Account Closed

Hey @Jermaine Gourdine. I know I'm about 3 years late to this post, lol, but did you have any luck finding a network in north metro Atl? I'm based in Alpharetta and am looking to invest in mobile homes as well. 

I've been investing in singular mobile homes now for about 3 months now. I've been running some numbers of existing park acquisitions and have had some interesting input from some of the people I've purchased homes for. They complain ALOT about new investors/companies purchasing these mom and pop parks and raising lot rents. SO, my questions are: 

1) Why are there no new parks being built? 

- Is it the cities that are hindering new construction or investors/developers not thinking its profitable? 

- And of the new parks that ARE being built, why are they shifting towards a "rental only" model?

2) IF current park models aren't sustainable, is there a way to still profit while owning a park and NOT hiking up lot rent for owners (alleviating financial burden of MANY tenants) and keeping most of the homes in the park tenant owned? 

- I have a park dream of 100 lots, tiny homes, RVs, and mobile homes welcome. I'm wondering if that could possibly be profitable. :) 

Thanks in advance for the input! 

Following this post, I'm super interested to hear these recommendations! I'm doing the same but based in North Georgia. Good luck, @Josh Buchanan

@Jerry Lucker I’m getting started in mobile homes as well in Jan 2020. Id love to pick your brain and bear what you’ve learned from this business over the years!

@Tyler Hardy is it possible to run a ghost ad to estimate potential demand of the park? That way you get a better idea of WHY it the vacancy rate is so high. Did the owners do a horrid job marketing vs. doesn’t no one actually want to live there? Good luck!

I’ve recently found a 1983 single wide mobile home in a park lot on the east coast of GA. The seller wanted to take the home with her on a move but it was too expensive. She’s asking $5000 obo. After requesting a video walk through she let me know there are a couple small soft spots in the kitchen, the skirting needs to be replaced, and she’ll be taking the front steps to the home. I figured I could negotiate her down to around $2700, lot rent is $185, repair cost estimate would be around $1500 range. I would market at $12000. I would want the exit strategy to be a lease to own option or, of course, cash.

Is this a good first deal?

I would be purchasing cash.

Thanks in advance!