My idea if Multi Family or Commercial is a Mobile Home Park and Public Storage. Has anyone had success with either one of these?
My idea if Multi Family or Commercial is a Mobile Home Park and Public Storage. Has anyone had success with either one of these?
Storage facilities can be great investments and can be had for much better cap rates than apartments. Easier management as well. Of course you must buy right. There are good deals and bad deals. The bad deals are the ones that do not provide sufficient cash flow.
Will Barnard, Barnard Enterprises, Inc.
E-Mail: info@barnardenterprises.com
Website: http://www.barnardenterprises.com
info@barnardenterprises.com
Is San Antonio too far?
Will Barnard, Barnard Enterprises, Inc.
E-Mail: info@barnardenterprises.com
Website: http://www.barnardenterprises.com
info@barnardenterprises.com
It is for Single Family, What do you have a whole park? You have my attention.
I do not currently own one there but have many other properties there and am an active investor there with many contacts and team members. I could locate and negotiate one for you if you choose. All I need are some peramiters and criteria from you.
Will Barnard, Barnard Enterprises, Inc.
E-Mail: info@barnardenterprises.com
Website: http://www.barnardenterprises.com
info@barnardenterprises.com
How does someone invest in such things as Mobile Home parks/properties with no money down?
Is it possible to find MH to place under Option??
"How does someone invest in such things as Mobile Home parks/properties with no money down?"
As in most commercial loans, the lender wants your skin in the game. You could bring equity partners in, even the seller if he/she is motivated.
"Is it possible to find MH to place under Option??"
Yes, if the seller will do it.
Hijacking this thread to say that we're looking for a MHP or Self Storage within 200 miles of Denver, CO. Please PM me if you have any deals. Thanks!
I have learned a few things in my years of investing.
I belive all of your time should be spent doing 2 things and the rest should be outsourced if at all possible,
You should hunt for two things. I call them the Double D's and As a man like Double D's. :lol:
1.) Deals
2.) Dollars.
I would buy a park with someone else's money, Reward your private lender, give them control, and a good chunk of the equity.
[b]
How does someone invest in such things as Mobile Home parks/properties with no money down?Is it possible to find MH to place under Option??
Yes, you can - just be careful about leverage. It can either hurt you or help you. Also, it's very important to understand the mobile home business if you're looking to buy a park. I know park owners who are struggling to fill their lots because they did not take the time to learn the business. Hope that helps!
Yes it is possible, I have one friedn that did it. But you will never find these leads on Loop Net. You need to send out alot of letters and work the probate lists.
Also, when looking into mobile home parks, check state law. Some states have special protections which gives tenants of mobile home parks added rights such rights of first refusal.
I recently found a really good site that focuses on just: MHP Investing....It is called:
www.mobilehomeparkstore.com
Paul
[REMOVED]
Have a look at www.mobilehomemagic.com
It is similar to the park store but offers free listings and is just getting off the ground. It has a discussion forum as well. :mrgreen:
Anne:
I have a 129-space MHP + 6 apts in CO that fits your criteria - let me know if still looking.
Mike:
MHPS.com has a 182 space MHP bank owned in the Houston area. Might be something for you to check out. Bank may be able to deal with you directly so you can take it off of their books as a "non-performing" asset.
I have 2 MHPs that are not listed, but if price was right would consider selling them and moving on to something bigger! Those interested send me a PM for some info on what could be made available to the right buyer!
Joshua Dorkin, BiggerPockets, Inc.
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