3 No-No's of Mobile Home Park Investing

  Рет қаралды 59,808

Commercial Property Advisors

Commercial Property Advisors

Күн бұрын

Пікірлер: 79
@CommercialPropertyAdvisors
@CommercialPropertyAdvisors 2 жыл бұрын
Get step by step help investing in mobile home parks by applying to our Protege Program: www.commercialpropertyadvisors.com/protege-program
@AbateAway
@AbateAway 2 жыл бұрын
Thank you Mr Harris
@ivansbaby69
@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
@Law19157
@Law19157 3 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.
@mariodattilo
@mariodattilo 3 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.
@agingacademy
@agingacademy 3 жыл бұрын
What is best method for finding mobile home parks for sale?
@mariodattilo
@mariodattilo 3 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.
@davenstorm7271
@davenstorm7271 2 жыл бұрын
@@mariodattilo Hello I was wondering will banks finance a mobile home park and if so for how long ?
@mariodattilo
@mariodattilo 2 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.
@davenstorm7271
@davenstorm7271 2 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,?
@frankkilgore5940
@frankkilgore5940 3 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
@gj4king1 Жыл бұрын
Any books or resources you recommend to learn mobile home investing?
@Bibby723
@Bibby723 Жыл бұрын
.....
@fascinationmama
@fascinationmama 7 ай бұрын
thank you for telling us
@emmanorman4404
@emmanorman4404 6 ай бұрын
This right here. Sometimes vacancies are vacancies. It’s all about the market.
@SteveDab317
@SteveDab317 2 жыл бұрын
Thanks for the great content! (also, I had the pleasure of being the 1,000 "like" on this video" 😀
@infovidasupps8640
@infovidasupps8640 4 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
@ponzianomanning3071
@ponzianomanning3071 3 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!
@mikeschroepfer8956
@mikeschroepfer8956 10 ай бұрын
It is a part of your business plain to raise the rent anually on tenants on a fixed income?
@trenth5547
@trenth5547 2 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)?
@recyclespinning9839
@recyclespinning9839 3 жыл бұрын
Thanks good info, and the way you explain it is really great..
@mackay259
@mackay259 3 жыл бұрын
Re: Titus & Clayton Mobile Homes, where do they ship? Which states. Long distance is costly.
@florencebamideleorji5899
@florencebamideleorji5899 3 жыл бұрын
My Best Teacher life.
@sofi4148
@sofi4148 2 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-sy9tf
@AB-sy9tf 3 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?
@cloudedjourney
@cloudedjourney 2 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.r4860
@serg.r4860 2 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?
@sandramcphee9943
@sandramcphee9943 3 жыл бұрын
So am I better off selling my park with everything done except having the trailers brought it??
@zehuazhou3390
@zehuazhou3390 3 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?
@hellisgood666
@hellisgood666 6 ай бұрын
Did you end up going through with buying one and if so how has it been
@docimma
@docimma Жыл бұрын
I have wanted to do something similar but with tinyhomes on wheels. Add a glamping resort to it.
@MRTransactionEngineer
@MRTransactionEngineer 3 жыл бұрын
Better is the best! Thanks Boss!
@followedbygrace
@followedbygrace 2 жыл бұрын
Thank you! This is very helpful and easy to understand.
@ED3
@ED3 3 жыл бұрын
POH = No Rent control on spaces. Best to Convert to Rv long term stay. Less trouble. We own 2 parks.
@powerofme7144
@powerofme7144 2 жыл бұрын
How did you transition to RV long term stay? Or was it that from the beginning with no POH mobile homes?
@glavalley85
@glavalley85 3 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
@tracythompson1692 Жыл бұрын
Interesting. Subscribed. You remind me of Jeffrey Taylor!
@debrahuynh4574
@debrahuynh4574 3 жыл бұрын
What states do you recommend to purchase mobile home parks for beginners? What website do I go to?
@CommercialPropertyAdvisors
@CommercialPropertyAdvisors 3 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-sy9tf
@AB-sy9tf 3 жыл бұрын
for point #2 I assume that the MHP owner is responsible to insuring the MH purchased on a line of credit?
@yunngkhalifa
@yunngkhalifa Жыл бұрын
What’s your opinion on starting a luxury mobile park & renting all through Section 8?
@hellisgood666
@hellisgood666 6 ай бұрын
Did you do it?
@dangerusscurvs4709
@dangerusscurvs4709 2 жыл бұрын
This is sooo bomb. I got some ideas brewing on this one..
@janejanine1
@janejanine1 Ай бұрын
How do we find mobile home park sellers?
@erettaperry9273
@erettaperry9273 2 жыл бұрын
Where are you located?
@zazabawabenlewi6673
@zazabawabenlewi6673 2 жыл бұрын
pita keep up the good work very inspiring 👍
@BlaineTrarop-q9q
@BlaineTrarop-q9q 3 ай бұрын
What about when the homes are over 35-40 years old?
@caut176
@caut176 3 жыл бұрын
GEMS!!! Thank you so much.
@angelabland7773
@angelabland7773 3 жыл бұрын
I NEED TO SPEAK TO YOU!!🙏🏽👏🏽
@egod7m995
@egod7m995 Жыл бұрын
How to finance a mobile home park???
@SuccessNothingLessco
@SuccessNothingLessco 2 жыл бұрын
Great content and video!
@steffie6510
@steffie6510 2 жыл бұрын
Good information thank you so much
@sepperso
@sepperso 3 жыл бұрын
What In the world do I do with a 9 home deal, 100% POH's ??
@ED3
@ED3 3 жыл бұрын
POH IS NO RENT CONTROL ON SPACES😀
@sepperso
@sepperso 2 жыл бұрын
@@ED3 this didn't make any sense
@JohnRodriguez-en3ik
@JohnRodriguez-en3ik 2 жыл бұрын
Thank you
@chefwillhall
@chefwillhall Жыл бұрын
Are you buying parks?
@CommercialPropertyAdvisors
@CommercialPropertyAdvisors Жыл бұрын
Yes
@michaelbatista2869
@michaelbatista2869 2 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.
@gaylehiner9511
@gaylehiner9511 2 жыл бұрын
I would like to know that answer as well, thanks.
@kennethsouthard6042
@kennethsouthard6042 8 ай бұрын
What tenant would sign that? It's essentially their death warrant.
@roseannakyle1275
@roseannakyle1275 3 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?
@samuraisurfer1319
@samuraisurfer1319 3 жыл бұрын
Inspiring video teaching. Gives me great ideas. You're too buff for your shirt.
@shannonmcconnell9203
@shannonmcconnell9203 2 жыл бұрын
Then the developers buy the dirt and throw you out with no place to move the mobile home.
@joerobinson8997
@joerobinson8997 2 жыл бұрын
not bad
@ED3
@ED3 3 жыл бұрын
Rent to Rvs
@parler8698
@parler8698 2 жыл бұрын
Mobile homes are not cheap.
@dungeonmaster6292
@dungeonmaster6292 Жыл бұрын
Lol this guy quotin Machiavelli
@ewalker409
@ewalker409 2 жыл бұрын
e mail me more infoormation please
@CommercialPropertyAdvisors
@CommercialPropertyAdvisors 2 жыл бұрын
Go to my website CommercialPropertyAdvisors.com
@shannonhall8144
@shannonhall8144 Жыл бұрын
Thank you
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