All Forum Posts by: Hal Cranmer

Hey,

I am working with someone who has been in the mobile home business for about 20 years and has owned several parks. He has found an abandoned mobile home park that he thinks he could convert into a 62 space RV park in South Texas. I was wondering if anyone has had any experience with RV parks and what they think about them? Thanks. I would just be an investor in it.

Just saw this thread. I would recommend getting the book "Pitch Anything" by Oren Klaff. Oren has raised hundreds of millions of dollars for large projects for people. You can also check out his website. I don't have any affiliation with him. It has just really helped me raise money for my projects.

Buildium works really well for me. Great at tax time as well.

 Thanks @Kalonji for the kind words.

Hi,

I just quit my corporate job after purchasing 5 assisted living facilities and making more cash  from them. I am in the process of moving my family from Minneapolis to Phoenix. I am in Phoenix now and they will be moving down in late July/early August.

My wife agreed to us buying a fixer upper and moving in once we do enough renovations (if necessary) to make it livable. We should have about $100K to put down and I have an offer from another investor friend of mine to put another $300K into the deal as a 1031 exchange if necessary. He needs to find a home for his funds before the tax man comes.

It would be great to flip something after two years and take the profits tax free. Or if we use my friend's 1031 money, we could still make a bunch of cash even if we eventually have to pay tax. My wife really wants to live in the North Scottsdale/Cave Creek area.

Since I'm new to this market, I'm just starting my networking. I have a realtor who helped me find the Assisted Living Facilities, so I don't just need a realtor who will look through the MLS for me. I have that.

I'm hoping there are some investors or wholesalers out there who can find me a really good deal. One that they and I can both profit handsomely on.

Please feel free to PM or reply to this thread if you can help me out. I have excellent credit but I'm not sure how the banks will feel about not having a W-2 any more. Any kind of owner financing would definitely sweeten the deal.

Thanks.

@Jake Winters - Feel free to PM me. I own a 10 bed facility in Mesa and am about to close on 4 more 10 bed facilities in Surprise. I also have 5 others in Albuquerque between 10 and 15 beds that I am working on with a business partner. They are generating enough cash flow that I am leaving my corporate job in Minnesota and moving down to Phoenix.

I took Gene's class a year ago. It was excellent and got me into the assisted living business. Previously I owned a lot of rental properties. We are hoping to ramp the business up into bigger facilities eventually.

Nathan - I've talked to two realtors who looked at comps for me and discussed it. I think I'm in the range. But thanks for the advice!

@Jerry W. - The park owner said the roofs are in great shape and should last a very long time.

The mobile home park owners I work with also have a steady stream of homes now with a $450 to $550 return, which will sell for the $32,500 to $35,500 prices. That means you pay off your investment in 5-6 years, and then just receive profits for about the next 15-20 years. This is such a better way to go than owning rental properties on your own.

@Victor Rios - These units are still available. @Jerry W. - You don't have to pay the lot rent. The park takes care of that. I can check on the roofs and get back to you.

Just to clarify something - my apologies but these units are in Kingsville, Texas. They are about 30 miles outside of Corpus Christie. Thanks.