All Forum Posts by: Jordan Vires

@Curt Smith

Your strategy sounds interesting. What does that save you in maintenance etc? (Percentage of gross as opposed to renting) 

How often do they pay them off?

Thanks

jordan

@Judd Campbell

Congrats on your purchase! 

What area in KY did you purchase? 

I live in London. 

Jordan

@Hai Loc

Thanks! That is a great idea. I have been working some with owner financing and you are right about 25% or so offer some form of seller financing. 

How/who manages your mobile home parks? I noticed you have two in different states. 

What kind of success are you having? 

Thanks

Jordan

@Andrew Warner

Can you do financing in all states? I would be looking primarily at Kentucky, Tennessee, Georgia and Alabama. 

@Jeff Plair

Do you work for them? One of the properties I am looking at is in GA. 

Thanks

Jordan

Does anyone know or recommend where one can get financing on mobile home parks?

Banks seemed scared to death to do them. 

Thanks

Jordan

@Jim Johnson 

Thanks a lot for responding to my question. It is so weird everything West of here parks seems to predominantly lot rental with a few park owned homes. However in the southeast with maybe exception of Florida most of the parks are on a predominantly park owned home platform. Especially Kentucky, WV, and GA.

You are right though I think the key is market and buying right. So you, for your investing purposes completely stay away from park owned homes?

Thanks again

@Ajay Virdi brings up a great question!

@Jim Johnson What % should of gross income should be a threshold for operating expenses in a mobile home park that has 100% park owned homes?

Most articles I read and information is only on parks that are lot rental only etc. 

@Alex Silang

Don't ever ask anyone's approval on your goals. 

Why limit yourself to $100 million? But the fact you are thinking that high is still great!

If you were going to ask this question I would probably write a letter to each of the people in the Forbes 400.

You won't get many responses if any, however I can guarantee 100% that the responses you do get will say "Yes!"...