All Forum Posts by: John Jacobus

@Account Closed We've found that there are far more mobile home renters vs. prospective owners.  Therefore, if we bring in new homes to sell to new owners (via CASH Program), we don't think there is sufficient demand to move the new inventory and achieve our business plan of filling our park's vacancies in a reasonable time period.

We have a mobile home park in Fayetteville, NC that we’re trying to fill with 20 used / new homes.  We have engaged 21 Mortgage and are in the process of registering for the CASH Program.  However, we don’t think the market can support a rapid infill of all new homes.  As a result, we are looking for used mobile homes to buy, rehab and rent.

Does anyone have experience finding, buying, rehabbing and renting used mobile homes?  Any advice on the best way to go about this and the best source of leads?  What are the best advertising channels?  Who’s doing this at volume (5-10 homes)?  What are the lessons learned?

Last I checked the installation was about $60/lot + cost of the meter.  You pay $5/month monitoring fee.

Metron meters are the gold standard for water.  Nearly indestructible and usage is monitored regularly, by satellite, throughout the day with stats automatically posted to a central, web-enabled repository.  This simolifies meter reading and bill backs while also providing you with an opportunity to detect leaks and major issues early via custom alerts.

@Chris Bodine I'm interested in learning more about this property as I am seeking similar projects in Austin for a personal house hack.  Please message me the details and we can exchange info.

@William Glass I’ll be there for the 16th consecutive year in May.  We are planning an informal meetup of real estate investors (mostly MHP investors) on Friday night.  I’ll keep you updated if you’re interested in joining.  It’ll likely be at the Hilton bar Friday evening.

@Jack Martin We are actively looking to expand our MHP portfolio in AZ, NM and TX.  We currently own in Texas and North Carolina.  I went to school at the UofA in Tucson, lived for a year in Scottsdale, attend SF Giants Spring Training Camp regularly, and own a single family rental in Scottsdale, so I’m out there frequently and know the state well. Finding value is challenging in AZ but we like the larger metros (Tucson, Phoenix, Yuma, Prescott, Casa Grande).  I’m open to exploring synergies.

@Lacee BeitlerAgree!  I discuss this frequently with my friends.  I find that endurance athletes are equipped with key behaviors that position them to succeed as investors:

• Long term orientation 
• Recognition that there will be good periods and bad periods
• Appreciation for consistent, incremental progress over long time periods
• Perseverance/grit/determination 
• Mental toughness 
• Laser-focused on long-term goals
• Intrinsically motivated (with intensity)
• Apprection for hard work

I’m a lifelong marathoner (Multi-time finisher:  San Francisco, Chicago, Boston, Portland, Big Sur) and investor and believe that participation in endurance sports can teach us many things about the qualities required to succeed with investing activities over the long term.

@Caleb Webster This is definitely an approach that appeals to me. Are there particular neighborhoods where ADU's are more widespread or is it case-by-case depending on lot size and zoning?

I‘m slowly making my way back to PDX over the next 12-18 months after a 4 year tour of duty in NYC and am looking for a house hack, teardown and rebuild, or small multifamily that I can live in alongside 2-4 other residents.  The goal is to find a property within 2 miles of the water front (NW, NE, or SE PDX) with value add opportunity and zoned for 2-4 families.  Walkability is critical.

Investment returns are not my primary driver and I’m familiar with the reality of low rent-to-price ratios as I used to live in NW PDX in 2010-2012.  

I’m looking for something with hair on it that can be repositioned and turned into a decent cash flowing asset that will subsidize my cost of living.  While “living for free” would be wonderful, I recognize this is unlikely.  

Im seeking referrals to agents/brokers in the area who work with investors and can help me navigate the multi-dwelling zoning / land use labyrinth.  I seek to honor existing zoning guidelines but need help understanding what can/cannot be done on an existing lot as it relates to adding units/dwellings.