All Forum Posts by: Howard Abell

Thank you @Bill Neves and @George Nikolakakos for the reply. It seems to me that some of these issues can be addressed contractually and by serving up a product (the park) that benefits all concerned. I look at investors, not as adversaries but as customers that require an environment that will keep the rents at the top end of the market. It is a two way street however in that they must accept a responsibility to maintain the homes to a standard set by the park or higher even if the park has no requirements. We know that investors (landlords) come in many forms, from slumlord with short sighted goals to top flight owners who understand giving their customers full value for the rental dollar which I believe has the greatest ROI over time.

Nobody ever said it was easy.

As a park owner that likes investors, I am having trouble understanding why so many owners do not like or want investors in their parks. Can someone enlighten me?

I believe Jefferly H has the right idea about focusing on one or two asset classes in commercial real estate and become the local expert in those properties. Going for a CCIM is a longer term goal as it takes some experience and booked business in commercial deals that is not insignificant. 

One of the simple but not easy ways to create commercial business is just to get on the phone or go out to industry groups and meet the owners. Commercial real estate is a relationship business.

Good Luck!

There is no simple way to scout out medical practices. About 15 to 20 percent of practices own their own office buildings or space. This makes the search a chore but not impossible. You almost need to go county by county and look up obvious medical buildings. 

From where I sit your total operating expenses add up to 56,000 or 58% of gross. This leaves you an NOI of around 40,000 which is a debt coverage ratio of 1.74. Not shabby. On top of that you end up with a cash flow of around 17,000 or a cash on cash return of over 50%.

If you understand the risks of septic and rentals than the 20% Cap and good financing terms seems to make this a deal to consider.

Thank you Ken Rishel for posting a very good and well written response by Frank Rolfe. 

There is a forum devoted to Mobile home investing called "Mobile Homes and Mobile Home Park Investing". It is a lively forum with lots of information. Good hunting.

I have seen this in cities that have Single Room Occupancy (SRO) properties. These are usually single rooms that are rented out by the week. Weekly rent gives you an extra month of rent payments but I have not seen regular multi-family doing this.

I have just finished listening to Bill Neves' introductory videos about the Mobile Home Blueprint course. As a park owner who is friendly to the idea of investors in my park, I found what Bill was offering to be an important source of information to would be or experienced investors whether they be fix or flip or other. I have always found that an informed investor is more apt to make a good deal without drama, remorse or problems. And they tend to return to the table for multiple deals over time.  

The course is packed with valuable information.

I never feel it is a waste of time to pass along knowledge received over 40 years of investing in and trading various financial assets including real estate. I have been helped and mentored along the way and I believe in passing that on. Just PM me anytime.