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All Forum Posts by: Marc Faulkner

Marc Faulkner has started 49 posts and replied 916 times.

Post: Mobile Home Tax Lien

Marc FaulknerPosted
  • Investor
  • Kalamazoo, MI
  • Posts 1,403
  • Votes 495

Sounds like an interesting way to acquire mobile homes.  I would love to hear what your actual purchase price, holding costs and sale price end up at.  Keep us posted Roderick.

Post: How would you valuate this park?

Marc FaulknerPosted
  • Investor
  • Kalamazoo, MI
  • Posts 1,403
  • Votes 495

One problem with a seller this old is that they may not be around long enough to collect all of the payments on a seller financed deal.  A 15 year term puts them at 100 yrs. old...

Post: Letters of inquiry for owner financing on mobile home parks.

Marc FaulknerPosted
  • Investor
  • Kalamazoo, MI
  • Posts 1,403
  • Votes 495

I think you would be far better off brining up Owner Financing after you get to know the park and the seller.  Most park owners will RUN quickly from a newbie looking for owner financing right from the get go.  The firs thing they will want to know is WHY would you want owner financing?  Do you have any cash on hand?  How is your credit and what is your experience?

Post: Has anyone ever bought and flipped a mobile home?

Marc FaulknerPosted
  • Investor
  • Kalamazoo, MI
  • Posts 1,403
  • Votes 495

I do it about 15 times a month all over Michigan, Indiana, Illinois, Ohio and Wisconsin.  I buy 1990 and newer units from motivated sellers and pay cash.  I then sell these units to park owners or other brokers that move them to thier locations. 

Post: Slumlord = Cashflow ???? 🤷🏼‍♂️

Marc FaulknerPosted
  • Investor
  • Kalamazoo, MI
  • Posts 1,403
  • Votes 495

MOST parks will not even consider letting an investor do rentals there as renters can lower the quality of a mobile home park very quickly.  Renting our mobile homes, in a park that is NOT yours, is not something I would recommend to anyone.  If you insist, you will want to talk with the park owner before proceeding as they make the rules there and will have the power to approve or deny your prospective tenants. 

Post: mobile home wholesale

Marc FaulknerPosted
  • Investor
  • Kalamazoo, MI
  • Posts 1,403
  • Votes 495

Get the sellers permission to help them sell the unit for them and then advertise and see if you can sell it before you buy. 

Post: Closing Costs on Mobile Homes

Marc FaulknerPosted
  • Investor
  • Kalamazoo, MI
  • Posts 1,403
  • Votes 495

You will want to check with your local DMV or Secretary of State, depending on which state you are in.  There is typically a state sales tax and title transfer fee. 

Post: Looking to Connect with Mobile Home Park Real Estate Agent

Marc FaulknerPosted
  • Investor
  • Kalamazoo, MI
  • Posts 1,403
  • Votes 495

@Aziza Sackett - PM me with exactly what you are looking for.  I will be happy to speak with you personally if you give me a call, pm or email:) 

Post: $50,000 Profit Mobile Home Flip!

Marc FaulknerPosted
  • Investor
  • Kalamazoo, MI
  • Posts 1,403
  • Votes 495

This looks like a great deal but, I would not count your chickens before they hatch!  Mobile homes can come with some surprises and the holding time can be expensive if you are paying lot rent. 

Post: Specific commercial property foreclosure

Marc FaulknerPosted
  • Investor
  • Kalamazoo, MI
  • Posts 1,403
  • Votes 495

Check with the register of deeds or do a preliminary title search.  You can also always ask the former owner.