All Forum Posts by: Mike G.

Calling all members?? How do you best utilize all the resources (networking, podcasts, resources) that BP has to offer on this site to increase your net work while decreasing the time it takes you to achieve your goals? I'd love to here some BP big wigs and non big wigs weigh in on this topic. How do u best take advantage of what BP has to offer to achieve your REI goals $$. Thanks 🙏

At the core, her mindset and yours couldn't be further apart. Which means your goals and her goals are most likely different especially when you encompass the paths in which each of you want to get there by. This will lead to core deep rooted disputes that will lead to you guys parting ways. You may not see it now but I've been there and know the red flags. Dump her now and move on and find someone that more closely aligns with your core beliefs or your emails will soon be less with a banker and realtor and more with a divorce attorney. That's my .02

@Peter Amico

well put, pretty good thoughts on the initial deal analysis. Touching a bit more on the vacancy issue look at the rent rolls and see the annual turnover rate (seller should provide this) and check with the city and or county to see the economic variables at play in that sub market. This will give you a gauge at what the economic vacancy may be like in the future if you purchase the property.  

Man oh man, am I the only one here who thought that the roller coasters were ONLY at six flags? Buckle up chaps......

@Brandon Kent

Hi Brandon can you PM me details about this property.

Bill F. Well stated Bill. To chime in and simplify what bill just said is that MHP investing is a unique animal in its own right. If you have little to no experience I would tell you to check out frank Rolfe and dave Reynolds of mobile home park university. They have a ton of experience and decades of knowledge on this unique investment niche. I wouldn't buy or do anything until you have explored the world of MHP investing a lot more. I know it's tempting to get excited about a deal but unless u know the metrics at play in determining a MHPs actual valuation and how to handle the many aspects of POH and OOH and ancillary structures that may or may not be on a MHP premise not to mention sewer and lagoon as utilities due diligence..... you get the picture I could go on and on. Lots of moving parts. Do some heavy education to put it all in to context before you dive in head first. When it comes to MHP unless u know what your doing I definitely WOULD NOT Fire, Ready, Aim.

James E. this is excellent. I never thought of this method. I'm going to do some due diligence into this and see what opportunities for LOC I can drum up. I have a long term banking history with Wells Fargo and they were on that list of banks. I'll check out the rest of the banks. I'm seeking to do value add investing with my partner since I have the stellar credit but he is a skilled GC and purchase distressed properties that fit the BRRRR method.

@Levi T.  well said Levi. that is a good perspective and one I agree with. Everone has their niche and this is definitely a touchy subject with polar opposite views depending on what side of the fence your on.  

................to each their own 

@Daniel Ryu  very detailed breakdown and assessment. Im interested in purchasing a mobile home park and will definitely reach out to you for a 2nd opinion regarding deal analysis. 

@Jerry Padilla ok excellent Ill PM you and or call you tomorrow to discuss.