BiggerPockets

Anyone have any advice on how to start getting started in Mobile home and park investing. I know calling, looking at the ads and parks are good ways. I am in Hawaii so there is an obstacle. Just wondering if some people could give some advice. Also on how to find trustworthy people to work with out of state.

Thank you,
Daren

I am also just getting started. There is an excellent boot camp by the guys that own mobile home park store dot com. They do a lot of deals and teach a 2 day class that I have been told is excellent by a few park owner friends. The next one is later this year. I plan on being at that class.

Daren,
You are really asking two questions. There is not much crossover between mobile home investors, and park investors. Park owners, buy homes to fill lots, and making large returns on the homes are really a secondary concern. Mobile Home investors need the larger return, because that is their investing model.
Nice to see a prop for the bootcamp put on by DR and FR. I happen to speak at the boot camps as the token investor that is not part of a corporate group. DR and FR bought 2000 spaces last year, I just have 6 parks spread across 4 states. So I teach how the lone investor finds parks, does the due diligence and operates them.
A few things... I think some education helps advert mistakes, and one mistake can cost you the farm. Knowing what to buy, where to buy and why your buying it really helps. There are several good books, I learn well i a classroom with a bunch of peers- so attending stuff is my poison of choice.
Hawaii is a hike- but if you have good partners it is not a problem. I friend of mine has partnered with a guy in California, a CPA for like 7 years now... I think they have owned 4 or 5 parks. They have never met in person... The guy I know operates the deals, the guy in California contributes primarily cash. I have had partners I did not know on parks, they were friends of friends that were already partners... Now I am a operational partner, people do not call me so much to deposit cash, but they have found a property and want someone to run the asset, and I get a cut of the equity for doing so. But that is the niche I have cut for myself in the industry.
I have done the Lonnie thing, and have lots of homes in my own parks, and in others parks. Now I only put homes in my parks. Lonnies book shows the basics, though I think many of his ways are now outdated. For instance, if I am looking to buy homes, I mass mail postcards to residents directly saying I will buy their homes for cash, and just let the phone ring. Or I produce a RSS feed into my phone or computer to seek every MH that hits craigslist, or other places people list homes for sale.

Anyway... post up questions if you have any... I am a full time mobile home park investor, and am looking to add a few more parks as soon as I see some smokin deals out there...

Attend a boot camp- and be sure to introduce yourself... every night we (Dave, Frank and I) split up and have dinner with people attending- great networking and a good way to get to know one another...

best to ya...

Daren,
I sent you a PM with my contact info. Email is best to set up calls... that way I know I am ready and have free time... feel free to ask questions here as well... I am happy to share what I do, no secretes in what I do- pretty basic stuff.

I am in east coast and mobile home parks are a hot asset and very hard to come by. They are cash cows and i know a few people looking for them. If it is producing good income why would anyone want to sell it?.