All Forum Posts by: John Jacobus

@Kash P.I find it difficult to find value in those states.  Parks are typically overpriced there and it’s not worth my time to look there.  Others know how to succeed there better than I do.

@ederaldana, yes, we are growing our portfolio of MHP’s to complement our portfolio of class B/C multifamily properties in the southwest and southeast. We are currently closing on two MHP’s, one in Fayetteville, NC and one in San Antonio, TX. 

I would be happy to discuss our focus any time. Feel free to reach out directly on DM or email.

@Eder Aldana

@Jarrod Gregory Definitely attend the MHU Bootcamp.  There are 5-6 held throught the year.  I believe the next one is planned for mid Nov in Austin, TX.

Here are a few resources that I found valuable when I was learning about the details of investing in mobile home parks:

Books:

1. Mobile Home Park 10/20 Investment System by Dave Reynolds, Frank Rolfe
2. Mobile Home Wealth Part 2: How to Become Even Wealthier investing in Mobile Home Parks by Zalman Velvet, Stuart Silver
3. The New Investor's Guide to Owning A Mobile Home Parkby Laura Cochran, Erin Cochran
4. The 21 Biggest Mistakes Investors Make When Purchasing Their First Park and How To Avoid Them by Charles DeHart and Kevin Bupp (available for free from www.mobilehomeparkacademy.com)

Podcasts:

1. The Mobile Home Park Investing Podcast with Kevin Bupp and Charles DeHart
2. Mobile Home Park Investors with Jefferson Lilly & Brad Johnson
3. Mobile Home Park Mastery with Frank Rolfe

Websites/Blogs:

1. Park Street Partners - http://parkstreetpartners.com - This is the investment firm run by Jefferson Lilly and Brad Johnson. They focus on mobile home parks and have solid educational content on their website.
2. Mobile Home Park Investors - http://mobilehomeparkinvestors.com - This is the LinkedIn group led by Jefferson Lilly. It's the largest group on LinkedIn that is exclusively focused on mobile home park investing.
3. Mobile Home Park Academy - https://mobilehomeparkacademy.com - This is the educational site that's run by Kevin Bupp and Charles DeHart. They also run an investment firm, Sunrise Capital Investors, that is focused on investing in mobile home parks.
4. BP Member Blog - Mobile Home Park Academy- https://www.biggerpockets.com/blogs/9911-mobile-ho... - This is the BP blog maintained by Charles DeHart from the Mobile Home Academy. In various posts, he walks through the basics of finding and analyzing mobile home parks. In recent posts, he walks through case studies and outlines how to analyze and underwrite opportunities.
5. Mobile Home University - http://www.mobilehomeuniversity.com - This is the site maintained by Dave Reynolds and Frank Rolfe. I recommend subscribing to their newsletter.

All,

We placed a MHP under contract this summer in Fayetteville, NC and are now looking to assign the contract. We sourced this deal through a friend who contacted the owner via direct mail. At the time, they were starting a fund and didn't have time to pursue this MHP. We spent July/Aug conducting due diligence and re-negotiating terms with the owner. We have decided to drop the deal due to the time, effort, and capital required to resolve the contaminated water well in the park. Please let me know if you or anyone in your network might be interested in taking over this contract.

@Brian Mitchell, we're building a portfolio of MHP's to complement our multifamily investments.  We've been pursuing MHP's for about 10 months and have two under contract.  It will continue to be our focus for the foreseeable future.  While we still like multifamily, it's been very difficult to find value.  Besides, we just really like the dynamics of the MH industry.  We look nationwide for parks while avoiding the west coast, Florida and New England.   Our website describes a bit more about what we're doing with MHP's:  www.LJCommunities.com

I lived in Tucson for 4 years while attending the UofA and would love to own more parks in the southwest.  In fact, I'm traveling to Texas this weekend to connect with a few owners in DFW and San Antonio. I don't have any other MHP events/conferences on my calendar for 2018 but it would be great to see you at a future MH event. The MH owner community is a great group of collaborators, educators, and connectors.  Reach out to me any time.

We have a mobile home park under contract in North Carolina and are seeking referrals to an environmental attorney who can help us assess the risk associated with acquiring a park with a contaminated water well. 

@Lance Peterson, I just sent you a direct message.  Feel free to call or email me with questions.

I know the sponsors and have invested with them in the past.  My experience has been very positive and I look forward to future investments with them.  Please message me directly and I’d be happy to jump on the phone and share my perspective.  

@Neil Schoepp’s recommendations are solid.  Jake & Gino’s book, Ken McElroy’s books (he has written two on apartment investing) and Rod Khleif’s book will provide you with a very solid foundation.  I recommend that you stop reading as your primary means of education after you finish these books and transition to active participation in your investing activities.  Reading can always be used as a supplement but it’s important to start taking action and avoid getting stuck in the passive education cycle.

@Joe Fairless has just published a book on apartment syndication.  While it’s available for pre-order only at this time, I’m familiar with the content and it will be very good.

@Sam Monderer I’m in Manhattan.  There is a small group of MHP investors who meet approx. monthly at the BP Meetup in midtown run by @Darren Sager.  We’d enjoy connecting some time as we are always looking to expand our network of MHP investors in the area.

Below are a few resources that I found valuable when I was learning about the details of investing in mobile home parks.  Before spending money on education programs or mentoring, I highly recommend listening to all of the podcast episodes available below.  Additionally, many of the educators below offer free content and eBooks.  Exhaust your no/low-cost education options before spending a lot of money; there is lots of high quality content available for <$100.

Books:

1. Mobile Home Park 10/20 Investment System by Dave Reynolds, Frank Rolfe
2. Mobile Home Wealth Part 2: How to Become Even Wealthier investing in Mobile Home Parks by Zalman Velvet, Stuart Silver
3. The New Investor's Guide to Owning A Mobile Home Parkby Laura Cochran, Erin Cochran
4. Also check out The Mobile Home Park Academy and Mobile Home University websites for their free “biggest mistakes” eBooks.
5. Park Place Education has a free eBook available on the site.

Podcasts:

1. The Mobile Home Park Investing Podcast with Kevin Bupp and Charles DeHart
2. Mobile Home Park Investors with Jefferson Lilly & Brad Johnson
3. Mobile Home Park Mastery with Frank Rolfe
4. Mobile Home Parks In Real Life with Ryan Narus

Websites/Blogs:

1. Park Street Partners - http://parkstreetpartners.com - This is the investment firm run by Jefferson Lilly and Brad Johnson. They focus on mobile home parks and have solid educational content on their website.
2. Mobile Home Park Investors - http://mobilehomeparkinvestors.com - This is the LinkedIn group led by Jefferson Lilly. It's the largest group on LinkedIn that is exclusively focused on mobile home park investing.
3. Mobile Home University - http://www.mobilehomeuniversity.com - This is the site maintained by Dave Reynolds and Frank Rolfe. I recommend subscribing to their newsletter.
4. Mobile Home Park Academy - http://www.mobilehomeparkacademy.com - This is the education platform run by Kevin Bupp and Charles DeHart.  They are in the process of relaunching the content delivery method (I.e., from live to virtual).
5. Park Place Education - http://www.parkplaceedu.com - This is the education platform run by Tony Ferris.  I also recommend reviewing his YouTube channel for boatloads of free content.

1. Frank Role from MH University 
2. Kevin Bupp and Charles DeHart from Mobile Home Park Academy
3. Tony Ferris from Park Place Education