All Forum Posts by: Nikko Lawson

I'm looking at buying one of these packages from the Mobilehomeparkstore.com as they were recommended to me by a friend who owns several successful parks.
What do you think about me getting it as I'm just getting started on this journey.

http://www.mobilehomeuniversity.com/mobile-home-park-investing-books-and-courses/mobile-home-park-investment-home-study-course.php

Great post thanks for the info, Jim.

Don't worry about all that you're not trying to be a LENDER; you're just looking to be an investor. You should be looking to partner with someone that has experience and a proven track record of getting a solid ROI for their investors. You provide all the cash, they do all the work, and you split profits.

I'm in a similar boat. Have already raised about $50k with another $50k committed when other investors come aboard. I'm wondering where else I should look besides the personal network I've already engaged.
I'm looking to pick up MHP's in Western MI or TX.

Thanks guys

Ya I'm in. Let's keep in touch.

What about doing a lease-to-own kind of option? I've seen a couple mobile home park deals go down like this.

What are we thinking as far as topics, etc. Will this be focussed primarily on one sector or will everything be game?
But...I'm in!

Hi Scott,

I'm in a similar boat as you are regarding financing and here are a couple options that seasoned investors have said I should take advantage of to pick up property with little or no money out of your own pocket:

1. [b]Private money: private investors don't follow the same set of rules and regulations that traditional lenders follow so this leaves the door open to allow for creative financing. You can syndicate (see link below) different pools of funds from multiple sources and channel them into the deal(s) you're looking to fund. Most private money (or even hard money) sources will work with you if the deal makes sense, even if you don't have a whole lot of experience. Just structure the deal in such a way where you have a Quit Claim Deed in place so your financial partner's risk is mitigated in case you default. This allows them to skip the foreclosure process and just have the title transfer hands to them.

2. [/b]Seller Financing: Often times sellers may want want to retain cash flow from their property without having to worry about the responsibility that comes along with owning the property. They will also be able to make some additional interest on the deal. This won't work in every situation but I've found that a lot of sellers like this idea.

Just keep networking locally as well. If you believe in yourself and your abilities and can get others with the cash to believe in you as well, there's nothing you can't do. Just keep at it and never, ever, ever give up. You can do it.

Here's the link for the info on syndicating your fund:
http://www.biggerpockets.com/renewsblog/2010/08/30/real-estate-syndication-3-ways-you-can-profit/

Hope this helps!