All Forum Posts by: Jeff Wallenius

@Tina Thornton the 1031 component does add a wrinkle to the equation but not impossible to overcome. This would be an outright purchase on your end and more of an equity agreement with a proven operator to ensure the asset is performing and managed properly. I would be happy to discuss in further detail if you like. I am specifically talking about mobile home parks in my proposed scenario.

Hey Grant, I own 5 parks in Indiana and the market during Covid was great. Our collections were normal (this I attribute to clear communication to residents up front) and demand is through the roof for good, clean homes. Happy to chat further if you have any additional questions.

There is certainly more to learn on MHP investing than we can cover in this thread. It is a fantastic asset class but there are a lot of nuances to be aware of when jumping in. I would say that investing out of state on your first MHP is tough unless you find the very best team or partner that is on the ground. I'd be happy to share my experience here in Indiana with the 5 parks I own.

I can second Metron. We have been pleased with their meters and the reporting.

Hi Tricia, I have 5 parks in Indiana and can possibly help depending on what you’re looking for. Can you message me and we can discuss?

This is an easy one for me. Invest in the market you know and have people you trust. I learned this lesson the hard way, even when I believed I had built trust in the OOS partner. Finding trusted partners is difficult out of state, not to say it can't be done, with a large vetting process and short leash. 

I agree with Brenden that Cap rates will be all across the board, especially dependent on the area you are planning to invest. If you are trying to determine value in POH's or TOH's I would suggest simply using lot rent for future value as you will look to sell off any and all POH's. We have been successful with lease to own scenarios for the current tenants which puts them in a nice position to purchase their own home. Happy to discuss strategy further if you like.

I also would look at partnering with a group in mobile home parks. Happy to discuss details but returns in the 23% IRR range are hard to beat!

Hey @Ryan Weimer what kind of land play? If multifamily or self storage zoning I would be interested in taking a look. 

@Gloria Sheridan I would be happy to share some advice over the phone, but my advice will focus on errors I’ve made in my investment career and how you may avoid some of those. I do not want to be paid, just want to ensure investors don’t make some mistakes I have.