All Forum Posts by: Jaquita Perkins

My husband and I own 2 parks, total about 100 lots, so YES I would love to here a podcast from you!!!

@John Brinkos I should of mentioned what bank we did get our loan from.

It was Arvest Bank and they have been wonderful!!!

@John Brinkos, Hi, My husband and I bought a MHP and initially had trouble with the loan also.  It was a 39 space park with about 25 occupied with 4 park owned homes on 8 acres.  We wanted to use a local home town bank, but  had never done a MHP loan and only looked at the value of the land.  So we went to the bank we always use which is a national bank, and they too in the beginning were looking at the physical value, until we went in and talked to them about looking at it from the income perspective of it.  They still under valued it, but we finally got the loan, purchase price was 250,000 and we put down 60,000.

I hope this helps you.

@Leslie A. Hi there.  It's been a long time since you posted your response, but interested if you have built a RV park like you mentioned.

My husband and I are interested in possibly building one next door to two mobile home parks we have.

Curious about cost of building it and time frame it took to get it completed.

Thank you,

Jaquita

@Ryan Groene 

We are located in very southern part of Missouri. 

I feel more confident in the RV park because I see the need in our area.

The convenient store is more questionable to me, due to expense of building it, and the limited customer base, which is 3 mobile home parks right next door with total lots at approx. 175 when parks are full.

Our thoughts are from just the 3 parks tenants buying cigarettes, liquor and snacks, that would add to the RV customers, but not much other traffic coming in, would it be possibly enough customer base, but that's our question, if that will be enough.

Marc Biviano, we are working on filling our parks.  We have added 5 homes in the past 6 months.  So that is definitely our goal, and gradually get a full time manager where we are more hands off and purely passive income.

We are in the Midwest, southern MO.

And the same goes for the RV park and store if that comes about, to get it going, then gradually hand it off to managers.

Thank you so much for your suggestions, we will definitely look into those that could rent it and run it, therefore completely passive.

Hi, my husband and I have got into the mobile home park business, and have been so interested in Brandon's park venture.

Anyway, we bought our first park of 39 lots, only half occupied, last May.  Then just 6 weeks later we purchased our second park located just 3-400 yards away which has 45 lots with 75% occupied, but mostly park owned.  We have added 5 mobile homes so far and our goal is to add 5 more each year. So we are getting lined out okay now.

There is another Mobile home park, larger, just across the road.  

My question:  we have found 12 acres wooded land next door for sale.  We feel a RV park would do wonderful there, since there is only one other RV park in town charging $350/month/lot and it is full.  This land is in city limits, so it has city water and sewer!  I'm looking for anyone who has experience in building a RV park.

In addition, we also believe a convenience store would do great there too.  This location is within short walking distance of 3 mobile home parks and would be on same property of the "would be" RV park.

Just reaching out for information, experience and thoughts.

Thank you,

Jaquita

@Micheal Noto:  

I'm very glad to hear that you're thinking along the same lines as I am.  Makes me feel better, I was starting to question myself. 

Thank you!!

Greg S. Thank you!!, but I don't know what esstopal letters from the tenants are?? And I really like building that amount into my offering price.

Curt Smith:

Oh yes, I probably need to add the security deposits to our offer contract.  Thanks soooooo much for that reminder.  And I will check into the zoning and any pending actions.

Thanks agian!!