All Forum Posts by: Mark Rickert

Hi Darren,

My first thought is how sad.  Then.... I wonder if the Mother is in a protected class under California Fair Housing for a person with a potential disability since Mother needs a care giver? 

Do a deal with the owner where he/she may carry a note for a small down payment from you. Then, with each lot rented after bringing in homes, the owner gets more money from the sale of that home.  You could also do a lease option on the park.  Once filled to a level the bank likes, (you would sort this out with the lender before doing the deal), then you secure the funding and payoff the seller.  Important to know how many homes per year could you sell on the low end to calculate the timing.  

Rent Manager is what we have used for a long time

All great input everyone!!!  

Hi Janel. I just started using Propstream and my understanding is that you can only find SFR information. I may be wrong. The other item I have noticed after using Propstream 7 days is that the information is not very accurate, nor are the maps/streets where you look for ownership data. I have not used listsource yet.

Totally disagree with Mr. Ramsey.  Still here and I know numerous multi-millionaires who started in the mid 60's who are thriving, and still here.  Consumer debt, (anything that goes down in value not a good debt).  Real estate debt, (used properly), can be a game changer in your real estate holdings.  

I am a real estate investor, (multifamily and mobile home parks), and a broker with a traditional team at Keller Williams Realty.  We will not work with a buyer/investor without a buyer broker agreement.  It is a loyalty agreement that goes both ways.  An astute broker will not waste his/her time with someone who is not loyal.  This is a relationship business and we help make our investors money.  Pick the most competent broker that will bring you massive value.   I hope this helps.

So many questions...

How many spaces?

City services?

How many POH's

Expense ratio?

Zoning?  Zoning after purchase?

Electric peds and amp service 50? 100?

Age of sewer lines?  Material type?

Near growth area?

Rents at market?  Under?

Owner carry?

You have commercial lender relationships?

Enough capital for down?

Onsite manager?  

RV's?

Length of time in park - residents

How many empty pads?

How much do homes sell for in park?

Tons of trees? Need pruning? How much?

Detached home in park deal?

Storage building?

Laundry? 

Just a few of the questions.  Good luck and seek experienced investor/mentor for help.

Hi Abraham,

What is NOI? Interest rate on owner carry? % required for down payment? singles or doubles? zoned? what happens with zoning upon sale or purchase? growth area? If rents very low compared to market why hasn't seller raised lot rents?

Transparency is the golden rule and will build trust with you investor.  Look to build long-lasting relationships where you dazzle him/her with great returns.  This will lead to larger deals and you will be on your way to park ownership.  Good luck.