Welcome from Indiana

Welcome from Indiana

Noblesville, IN · Member since 2013 · 4 posts · 0 votes

Hey everyone. Seems like a great message board you've got and a good group of folks here. So, why am I here?

I'm in my early 30's, I am active in some minor real estate (sheriff sale purchases where we re-sell them) I've owned some rentals in the past, and done some minor rehabs after buying properties in the sheriff sales. Also bought them and had a small 6 unit apartment building.

I own a marketing company that does Search Engine Optimization, Marketing Consulting, Internet Marketing, Direct mail, and I am involved in other business projects (joint ventures with people, etc.)

Anyway, enough about that...

My goals are to purchase mobile home parks where the park owns the land--not park owned mobile homes. I feel that mobile homes can provide nice cash flow. I'm in a buy, hold, and accumulate assets position right now so although appreciation is never a bad thing, I'm looking for positive cash flow in my investments.

I think I've got the basics down in terms of what I'm looking for with my experience--however like anything I'm sure there are nuances to this type of real estate like anything.

I'm going over some basics and making my own checklist of due diligence (which I will add to from the other check lists I find here and elsewhere)

Just wanted to pop in and say hello. Hope I can share my experience. Being in Indiana I think is a great opportunity as prices are in line with my goals and current comfort levels.

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  • Joel OwensBusiness Member
    Moderator
    Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
    13y

    Hi matt!

    Check out member John Fedro on here with the keyword search tool up top. He does a bunch of the mobile home investing.

    Reid Levy is another one.

  • Noblesville, IN · Member since 2013 · 4 posts · 0 votes
    13y

    thanks Joel. Appreciate the advice already!

  • Real Estate Agent · Milwaukee County, WI · Member since 2009 · 3k+ posts · 525 votes
    13y

    Also beside John Fedro, try Marc Faulkner

    www.biggerpockets.com/forums/30/topics/87636-best-mobile-home-investing-books

    www.biggerpockets.com/forums/30/topics/83062-advice-on-first-lonnie

    Regardless, Matt welcome to biggerpockets

  • Investor · Wichita Falls, TX · Member since 2010 · 3k+ posts · 603 votes
    13y

    Matt Wenger Welcome to BP! You seem like a sharp guy and I'm sure you'll find what you're looking for here. Keep us updated on your progress on the park acquisitions k?

    Cya around

  • Noblesville, IN · Member since 2013 · 4 posts · 0 votes
    13y

    Thanks Mehran.

    Like anything, just need to think through things, ask good questions, due your research, limit your mistakes to small ones, and then "push it off a cliff."

    I remember when I bought my first investment property...in a sheriff sale. You have to learn how to research the title, etc. but in my state the day you give them the certified fund is the day you own things. You don't get the deed that day, but a couple weeks later, but you own it.

    So time to call the insurance company ASAP to get it insured.

    Like anything, just need to grow and adapt!

    Thanks all!

  • Brandon TurnerPro Member
    Investor · Maui, HI · Member since 2009 · 13k+ posts · 3k+ votes
    13y

    Hey Matt Wenger welcome to BP! Another guy to connect with would be John Vashon. He just wrote a KILLER article on the BP Blog called Step By Step Process to Buying a Mobile Home Park! Definitely check it out.

    Also, be sure to set up some Keyword Alerts for some of the topics you are knowledgeable about, or other topics that interest you (like Mobile, Indiana, Rehab, etc ) so you'll be notified that those words were mentioned in the forums and can jump into those conversations! It's also an awesome way to meet new people from your area when they introduce themselves to this forum!

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