Get step by step help investing in mobile home parks by applying to our Protege Program: www.commercialpropertyadvisors.com/protege-program
@AbateAway2 жыл бұрын
Thank you Mr Harris
@ivansbaby69 Жыл бұрын
😅great video and I learned alot but the no 2 no no you need to check the areas population over the last 20 years because if you have empty pads in your community it may be the cause of jobs leaving the area and industry leaving the area if that's the case don't buy the mobile home community
@Law191573 жыл бұрын
I very much appreciate your videos sir. I've purchased your book and am in the process of acquiring my real estate license here in the San Francisco Bay Area.
@mariodattilo3 жыл бұрын
Great content. We own mobile home parks. Careful on the seller financing of homes with Dodd frank laws. Get legal counsel before doing seller financing. Overall great video.
@agingacademy3 жыл бұрын
What is best method for finding mobile home parks for sale?
@mariodattilo3 жыл бұрын
@@agingacademy brokers, wholesalers, direct marketing etc. same as any other property type. I did an entire episode on my channel about the top ways we have bought them so I would recommend checking it out.
@davenstorm72712 жыл бұрын
@@mariodattilo Hello I was wondering will banks finance a mobile home park and if so for how long ?
@mariodattilo2 жыл бұрын
@@davenstorm7271 I did an episode about financing mhp’s on my channel so check it out. Banks typically do 15-25 amortization with 3-7 year fixed.
@davenstorm72712 жыл бұрын
@@mariodattilo So your saying that banks will loan the first 3 to 7 years on a fixed rate and the other 25 years on a adjustable rate ? Cause Amortization is the break down of the monthly payment. I'm not understanding,?
@frankkilgore59403 жыл бұрын
Be careful doing this......it will only work in a mobile home Community..... not a mobile home park .....always check your location ....some places will not Allow you to sub sale parts.....unless it's a mobile home community....like where I'm at......don't get me wrong Peter's great...and I've learned a lot from him and I'm still learning from him .....just always check your local codes ...
@gj4king1 Жыл бұрын
Any books or resources you recommend to learn mobile home investing?
@Bibby723 Жыл бұрын
.....
@fascinationmama7 ай бұрын
thank you for telling us
@emmanorman44046 ай бұрын
This right here. Sometimes vacancies are vacancies. It’s all about the market.
@SteveDab3172 жыл бұрын
Thanks for the great content! (also, I had the pleasure of being the 1,000 "like" on this video" 😀
@infovidasupps86404 ай бұрын
You could be seen as a dealer and require a dealers license And/or run into Dodd Frank Law Also the price you are paying for the park is based upon higher income of renting the land and home Once house is sold to the tenet you only get the lot rent. So your ROI drops considerably
@ponzianomanning30713 жыл бұрын
Great video again Peter! How has covid changed the hotel/motel and office space rental markets today? Thank you for all your marvelous teaching content!
@mikeschroepfer895610 ай бұрын
It is a part of your business plain to raise the rent anually on tenants on a fixed income?
@trenth55472 жыл бұрын
I am entertaining a 23 park owned, 2 tenant owned, 5 vacant plot mobile home community. This helped a lot, the POH scared me, but now it seems more doable. The price is higher of course because of the homes it come with, not really what i want. How would one negotiate the price with that in mind (to the seller)?
@recyclespinning98393 жыл бұрын
Thanks good info, and the way you explain it is really great..
@mackay2593 жыл бұрын
Re: Titus & Clayton Mobile Homes, where do they ship? Which states. Long distance is costly.
@florencebamideleorji58993 жыл бұрын
My Best Teacher life.
@sofi41482 жыл бұрын
I have a property which I plan to turn into a park. do you have a video explaining how to prepare the lot for about 5 spaces? or how to start one from scratch where there's nothing?
@AB-sy9tf3 жыл бұрын
With point #1, isn't it still a risk to purchase a MHP with park owned homes? How do you convince the tenant to purchase it? They already know that the mobile home is likely to be old and heavily depreciated. What kind of terms would a bank want to risk on a 5-10 year loan?
@cloudedjourney2 жыл бұрын
Even if you sell them for very cheap the responsibility all ends up with them to maintain or remove if it falls apart. Makes the purchase look better to a lender as there is a lot less liability.
@serg.r48602 жыл бұрын
How good of an investment would a large lot with 8 small houses on it be? Can it be just as good as an 8 unit apartment building?
@sandramcphee99433 жыл бұрын
So am I better off selling my park with everything done except having the trailers brought it??
@zehuazhou33903 жыл бұрын
Do you get a property manager for the mobile home parks? I am concerned with the potential safety risks if I own a mobile home park. What do you think? Is it better to own 55+ mobile home parks only?
@hellisgood6666 ай бұрын
Did you end up going through with buying one and if so how has it been
@docimma Жыл бұрын
I have wanted to do something similar but with tinyhomes on wheels. Add a glamping resort to it.
@MRTransactionEngineer3 жыл бұрын
Better is the best! Thanks Boss!
@followedbygrace2 жыл бұрын
Thank you! This is very helpful and easy to understand.
@ED33 жыл бұрын
POH = No Rent control on spaces. Best to Convert to Rv long term stay. Less trouble. We own 2 parks.
@powerofme71442 жыл бұрын
How did you transition to RV long term stay? Or was it that from the beginning with no POH mobile homes?
@glavalley853 жыл бұрын
Peter thank you. Going back to concern number 1, doing rent to own on POH where does the safe act and Dodd frank act come into play and what is the solution?
@tracythompson1692 Жыл бұрын
Interesting. Subscribed. You remind me of Jeffrey Taylor!
@debrahuynh45743 жыл бұрын
What states do you recommend to purchase mobile home parks for beginners? What website do I go to?
@CommercialPropertyAdvisors3 жыл бұрын
Stay away from hurricane zones as that could ruin your investment quickly. Otherwise, focus as close to home as possible so you can look after the property easily.
@AB-sy9tf3 жыл бұрын
for point #2 I assume that the MHP owner is responsible to insuring the MH purchased on a line of credit?
@yunngkhalifa Жыл бұрын
What’s your opinion on starting a luxury mobile park & renting all through Section 8?
@hellisgood6666 ай бұрын
Did you do it?
@dangerusscurvs47092 жыл бұрын
This is sooo bomb. I got some ideas brewing on this one..
@janejanine1Ай бұрын
How do we find mobile home park sellers?
@erettaperry92732 жыл бұрын
Where are you located?
@zazabawabenlewi66732 жыл бұрын
pita keep up the good work very inspiring 👍
@BlaineTrarop-q9q3 ай бұрын
What about when the homes are over 35-40 years old?
@caut1763 жыл бұрын
GEMS!!! Thank you so much.
@angelabland77733 жыл бұрын
I NEED TO SPEAK TO YOU!!🙏🏽👏🏽
@egod7m995 Жыл бұрын
How to finance a mobile home park???
@SuccessNothingLessco2 жыл бұрын
Great content and video!
@steffie65102 жыл бұрын
Good information thank you so much
@sepperso3 жыл бұрын
What In the world do I do with a 9 home deal, 100% POH's ??
@ED33 жыл бұрын
POH IS NO RENT CONTROL ON SPACES😀
@sepperso2 жыл бұрын
@@ED3 this didn't make any sense
@JohnRodriguez-en3ik2 жыл бұрын
Thank you
@chefwillhall Жыл бұрын
Are you buying parks?
@CommercialPropertyAdvisors Жыл бұрын
Yes
@michaelbatista28692 жыл бұрын
Letting the home go to the tenant buyer causes the income for the property to drastically drop once they pay it off. Would you recommend putting a clause in the paperwork that says once its paid off that the tenant buyer has to move it off of your lot? Gives you the flexibility to bring in another unit immediately to keep the cash flownin line.
@gaylehiner95112 жыл бұрын
I would like to know that answer as well, thanks.
@kennethsouthard60428 ай бұрын
What tenant would sign that? It's essentially their death warrant.
@roseannakyle12753 жыл бұрын
Thank you for this amazing information!! Question... Can a 1st-time investor get the Fannie Mae or Freddie Mac loan? Can I get loans from Private or Hard money lenders?
@samuraisurfer13193 жыл бұрын
Inspiring video teaching. Gives me great ideas. You're too buff for your shirt.
@shannonmcconnell92032 жыл бұрын
Then the developers buy the dirt and throw you out with no place to move the mobile home.