All Forum Posts by: Josh Pratt

Hello everyone, 

I am interested in commercial investing, with mobile homes and RV parks being high on the list.  I have just recently started speaking with a local MHP owner (only one in town) and seems like he is willing for me to bring in mobile homes (pay him land rent) and rent them out to tenants.   This seems like a great way for me to get my feet wet without diving all in at first.   There are a couple of vacant pads at this park.  It's in a decent area.   Anyone out there currently doing that?  I do understand that I will have to manage these units.  Lot rent is $155.  

My initial thoughts were to do a small development of about 7 pads myself.  I know of some commercial land within city limits, but I'm not sure the number are going to add up there.  What are the general costs to set up a spot?  I generally like the idea of buying and then owner financing homes while also collecting the land rent.  

I have also spoken with a local RV park owner about potentially buying his park.  Price is 225K.  It is 12 spots and a small house.   This is NOT a destination park, and primarily has long-term, month by month rental agreements.  RV parks generally scare me a little more because everyone could back up in one day and roll out of town.  Another local RV park actually buys RVs and rents them out on a monthly basis.  

Thoughts?

Hello everyone,

My name is Josh and I am located in Central Texas.  I have been looking to get into some sort of real estate investing for some time, and I'm now at a point where I believe it's feasible to pursue some options. 

I am continually trying to learn more and more about real estate as I know there is never-ending info out there. 

I felt like it would be good to explain my current financial situation and my goal.  

I personally do not have a ton of on hand cash, but I also do not have much debt (around 30K total).  I am able to save around $2,500-$3,000 a month right now to go fully towards investing.  To pull this off, I do work 4 jobs.  

My goal is pretty simply.  I would like to generate $1,600 in net income a month to leave my full time job.  That would allow me to pay more attention to the other 3, keep generating the $2,500-$3,000 for investments, and of course allow more time for real estate in general.  

If you were in my shoes, what would you do?  I am like most and would like to pull this off as quickly as possible, but I understand the meaning of hard work and how things do not happen overnight.  I have had a few ideas myself but was just wondering what some of you would do.  

Thanks!