When most people think of real estate investing, single-family homes or apartment buildings come to mind, which means dealing with tenants and contractors on a daily basis. The latter puts off many would-be investors as does the high cost of entry. Instead, they own the land. Tenants own the trailers and pay rent for the space to park. Often tenants are older, retired folks who simply want a quiet place to live. For the most part, mobile home park investing is still flying under the radar. Also, per square foot, a mobile home park costs much less to acquire.
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Enter your mobile number or email address below and we’ll send you a link to download the free Kindle App. Then you can start reading Kindle books on your smartphone, tablet, or computer — no Kindle device required. To get the free app, enter your mobile phone number. Would you like to tell us about a lower price? Read more Read. Fire Phones Fire Phone. Kindle Cloud Reader Read instantly in your browser. Customers who bought this item also bought. Page 1 of 1 Start over Page 1 of 1. Zalman Velvel. Laura Cochran.
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David Rousher. Vinney Chopra. Not Enabled. Customer reviews. Top Reviews Most recent Top Reviews. There was a problem filtering reviews right. Please try again later. Format: Kindle Edition Verified Purchase. I’ve been a park owner and operator for 6 years, and the hard copy of this book was the Bible that got me started. Since then I’ve consumed every bit of knowledge out there and I’ve still never seen such a thorough compendium of knowledge on the business.
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Jumping in . . . If Slowly
With the national economy in free fall, and millions of jobs being cut across all industry segments, many people are trying to formulate a plan to replace their income if they get laid off. For many people, the answer may be in a good old fashioned trailer park. The park will need to have city water and city sewer services, and be in a market of at least , population. You will need to buy the park with seller financing. Try and get a note length of at least 7 years, so that you have plenty of time to refinance it before the loan comes due. You basically have two components to this 1 raise revenue and 2 cut costs. Let’s go over raising revenue first. Mobile home park residents are at a great disadvantage when it comes to raising rents.
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Financing Your Mobile Home Park Investment
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Mobile Home Wealth: How to Make Money Buying, Selling and Renting Mobile Homes
John Fedro. Creating value and making money with mobile homes inside pre-existing mobile home parks is a very real opportunity that most investors never consider. This is also why this type of investing is so lucrative. In this short article, we will look at eight ways to make money with mobile homes inside mobile home parks. Disclaimer: In this article, we are discussing purchasing only the mobile homes and not the land in which the mobile home sits.
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Many mobile home parks will not allow you to rent out, sublet, or sublease a mobile home you own in the park. For this reason, most mobile home parks will require the person living inside of the mobile home to be the owner of the home.
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