All Forum Posts by: Orlando Paz

Just recently spoke to a local investor who has been investing in mobile homes for many years. He also runs a home inspection service which includes mobile home inspections as well. We never actually met in person, but I was referred to him by a fellow investor. He sounds like an older gentleman, with plenty of information to share. Our conversation was very informative, yet a little discouraging. Based on our conversation, he said that investing in a mobile home within a park, is very difficult. That many parks are reluctant to let people purchase homes, who are not planning on living in the community. He went on to add, that many also require the same type of approval that a potential mobile home resident needs to go through. In such a case, I would not qualify. Part of my current struggle, is not having good credit.

I try not to let things like this hold me back though. It’s tough enough when you hear discouraging comments from those who are close to you. Hearing such comments from someone who has been investing for many years is a little disappointing, but does raise a red flag with me. I can’t help but wonder how many mobile home investors actually face such roadblocks, with these parks. Obviously, others are doing it.

If anyone has experienced such problems with investing in parks vs independent land?

I think with flipping, you should be ok. However, if you start offering financing for these flips, you may only do up to 3. In order to do more, you may need to register as an LLC. With an LLC, I believe you can do up to 6 deals.

Hey Romy,

Thanks for responding. Much like yourself, I’m also starting out (a “newbie”). It Seems like a great opportunity to meet other investors, and get face to face recognition among peers. The one primary drawback for me, would be the possibility of public speaking. I’m guessing it’s one of those things that are bound to happen… Don’t mind organizing the events, but don’t care for the public speaking part. If you are comfortable doing it, that would be a huge plus. I could picture having something like this, done as a networking event held at a very informal and relaxed setting. Perhaps holding events at a place like Embers (in the open area), or some other trendy setting. Membership could be free to low cost (depending on space rental). By making it an affordable Meetup group (without Guru’s involved), It could potentially gain huge popularity. I’m still thinking about it. Let me know if this still catches your interest.

Anyone in the Orlando, Florida area (preferably Clermont area) interested in partnering up and starting a Bigger Pockets Networking Meetup group?... This would be a great opportunity to network, and meet other like-minded investors and professionals. If anyone is interested, I would love to hear back from you.

A huge part of why we all decide to pursue real estate investing, is to provide a better life for our family. With that being said, I wish you all have an awesome and blessed Father's Day!

Welcome to the site, and make sure to listen to all the podcasts. They are a great source of information. Also, feel free to post your questions. As you can see, this is a forum of friends looking out for one another.

Hey Caleb, Just wanted to say welcome to BP! I'm curious, is this a mobile home you are moving?

@Jose Alonso - I used to live in Miami until 2001. I lived in Miami Lakes, then moved to Aventura. Miss those days (sometimes!)... Anyway, I would say to look through sites like Craigslist and Backpage. Also look on Ebay. Look outside of the metro Miami area. Places like Kendall and Homestead, and maybe the far West part of Miami (near the everglades). Get yourself some inexpensive business cards, and say something to the effect of buying and selling mobile homes. Then pass those out to people who work simple jobs at convenience stores, grocery stores, etc...   Get creative and offer a small reward for referrals (if the referals successfully get into a park, and they purchase or rent your MH). Get the word out, and soon you may start to see some good deals coming out of the woodwork.

You can't be arrested for anything, as no crime has been committed. Those tenants are examples of people who abuse the 911 call for dumb things. If they were to call the cops on you, all they would do is what they do best... Tell the tenants that "there's nothing they can do". The tenants would have to go through the standard legal bureaucracy to get heard. By then the AC will be fixed, and they may already be gone (as a result of you not renewing the lease on those characters). I would suggest checking out the guide on screening tenants (on this site). Awesome information.

I wish I had $20k to invest in mobile homes! Notice I said... "Homes". With $20k you can purchase up to 8 mobile homes at $2,500 each (they do exist). Then turn around and sell each one for double or more. You have the options to make a direct sale, rent the home, owner finance, or rent to own. On the last two strategies, make sure you read up about the new Dodd Frank rules. If you owner finance, you can also profit through the interest you charge. I recommend you reach out to John Fedro on this site. He is a great resource. I also recommend you look for a book called "Deals on Wheels" by Lonnie Scruggs.