Mobile home

Mobile Home Insurance

by John Fedro | September 25, 2010

Most people that have never bought or owned a mobile home are surprised that there is such a thing as mobile home insurance. Mobile home insurance does the same job as any other form of property insurance; to ‘insure’ the homeowner is protected from financial loss in case of property damaged. Mobile home insurance can [...]

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Real Estate Investing

5 Ways to Find Eager Mobile Home Sellers

by John Fedro | August 12, 2010

As real estate investors one of our goals is to be able to attract sellers before or at the exact moment they need to sell. If you talk to 100 different investors you may get 100 different techniques to find sellers and their properties. Below are 5 great techniques that are actually working in today’s [...]

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Real Estate Investing

Keep Your Mobile Home Buying Machine Full

by John Fedro | June 25, 2010

Real estate investors can naturally get tunnel vision when in the middle of their current real estate transaction. An investor’s “current” deal can easily become the center their attention. Focus then gets pulled away from: finding leads, management, other obligations, family, friends, etc. Below are a few tips that can help keep your buying funnel [...]

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Financing Real Estate

Mobile Home Financing: A Primer

by John Fedro | April 9, 2010

Securing traditional financing for mobile homes and manufactured homes can sometimes seem difficult, especially in our current economical market. Whether the mobile home is new to you or being refinanced, lenders typically have stricter underwriting guidelines than more traditional site build homes. Building codes changed in late 2005 after the severe hurricane season experienced in [...]

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Real Estate Investing

Real Estate Investing with Functional Obsolescence in Mind

by John Fedro | April 3, 2010

Common sense and proper real estate investment training teach us to preform due diligence before entering into a purchase agreement with a seller. Good real estate investors are taught to determine Loan to Value (LTV), After Repaired Value (ARV), Repair Cost (RC) and Maximum Allowable Offer (MAO). These abbreviations, numbers and percentages allow us to assign an estimated [...]

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Real Estate Investing

A Tale of Two Real Estate Joint Ventures: Success vs. Failure

by John Fedro | March 6, 2010

The old saying goes “two heads are better than one.” Out of all the real estate transactions I have been a part of, some of my favorite deals were the JV deals I have done with a partner. Working a real estate investing deal with someone else can greatly increase profits, productivity and results. [...]

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Real Estate Investing

Mobile Home Investing with Creative Strategies

by John Fedro | February 19, 2010

So you have decided to add more long term, passive cash flowing properties to your portfolio for 2010. Your desire is to leave the rat race once and for all. Your plan is to buy and hold some properties with low or no debt and a high monthly cash flow. Time to Get Creative! You [...]

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Real Estate Investing

How I Bought a Mobile with Land for Only $695.00

by John Fedro | January 16, 2010

Here’s a fun deal I put together for a mobile home attached to land. I purchased the mobile home (a beautiful, free and clear, 1991 single wide with screened porch and carport sitting on ¼ acre) for only $695.00. I was contacted by a woman (let’s call her Clair) that wanted $35,000 for her mobile [...]

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Real Estate Investing

5 Obviously Simple Reasons to Invest in Mobile Homes in 2010

by John Fedro | January 2, 2010

Mobile home investing usually happens one of two ways; you invest in mobile homes attached to “land you own” OR you invest in a mobile homes that are “not on your land” (typically land rented in a mobile home park). Today, let’s talk now about mobile homes located on rented land (in mobile home parks)! [...]

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Landlord Tenant

A Day in the Life of a Mobile Home Park Owner

by Frank Rolfe | September 29, 2009

Many people ask me what it’s like to own a mobile home park. They expect stories of exciting shoot-outs, drugged-out topless dancers bashing in windows with baseball bats and Jeff Foxworthy humor. Unfortunately, that’s not the case.

I, myself, thought that would be the normal agenda when I bought my first park. The first thing I did during due diligence was to get a concealed handgun license. I was certain that my role would be that of Wyatt Earp in cleaning up trailer town. But again, a day in the gun class and the shooting test were all wasted. It’s just not like that.

“Well, then how is it?” you’re asking. The answer: boring. Really boring. Here’s why.

NOTHING EVER HAPPENS

In a typical mobile home park, the phone might ring once per month for a lot for rent (normally an RV) – that’s the whole sales side of the thing. The yellow page ad comes up once a year, so that kind of handles marketing. I show up in court to evict someone every once in a while. But that’s about as much action as I get.

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Landlord Tenant

Why Mobile Home Park Rents Can Be Pushed Higher Than Others

by Frank Rolfe | September 22, 2009

Many landlords are scared to push their rents right now. In the self-storage industry, for example, landlords are considering rent reductions more than increases, and many real estate owners feel lucky if they can leave their rents unchanged this year. Articles are abundant, talking about the inability of office and commercial landlords to maintain current [...]

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Financing Real Estate

How to Get Seller Financing for a Mobile Home Park

by Frank Rolfe | September 15, 2009

One of the great advantages of buying mobile home parks is the ready supply of seller financing. No other form of real estate investment offers as much seller carry, and at as favorable terms — with most of these loans being non-recourse and at below-market interest rates.

So how do you get a seller to finance the mobile home park?

One of the first strategies is to “bond” with the seller. A seller will not offer financing if he is not comfortable with the buyer and their ability to make a success of the park. If they are not feeling good about the buyer, then how can they lock up their investment and their future with them? Clearly, before there can be seller financing, there has to be a period in which the seller gets to know the buyer and develops confidence in their abilities.

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Real Estate Tips

The Benefits of Multiple Exit Strategies for Real Estate Investors

by Ryan Moeller | June 30, 2009

With so many ways to make money in real estate, how are you going to choose to make your money? A better question may be what happens if your exit strategy doesn’t work? Do you have multiple exit strategies as backup plans or are you about to absorb a huge and crushing loss?

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