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Mobile Home Park Investing

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Logan M.
Pro Member
#1 Mobile Home Park Investing Contributor
  • Investor
  • Provo, UT
587
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716
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This is the secret to buying real estate fast

Logan M.
Pro Member
#1 Mobile Home Park Investing Contributor
  • Investor
  • Provo, UT
Posted Feb 7 2024, 09:01

Look, I know the answer is having rich parents but I want to tell you what I believe is the quickest way to make something of yourself in real estate.

1. Learn to be the best operator out there in your niche


Anyone from any industry can give you the same type of money for the right deals but if you make yourself extremely valuable operating deals and rental properties you become valuable to those holding the money.


Think of a Doctor, they are great at helping sick people but know nothing about managing rentals day to day, and if you know how to find deals you become valuable to them.

 2. Find good deals

If you are working full-time in real estate get good at finding deals. 

This does a few things 

1. The deal starts with you 

2. You control the deal 

3. If you are finding the right deals consistently you know the basics of how to operate the deal

3. Understanding Creative Financing

If you know how to Find deals and operate deals, your limit will be financing. If you master creative financing you can find 0% down deals.

In 2023, I purchased 73 units with seller financing and 44 of those were 0% down loans.


4. Repeat

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177
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Samuel Coronado
Pro Member
  • Investor
  • Huntsville, AL
96
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177
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Samuel Coronado
Pro Member
  • Investor
  • Huntsville, AL
Replied Feb 9 2024, 08:38

I really need help with the creative finance. The one motivated seller I found, I threw them an offer of $70k with conventional financing and was beat out by an all cash offer of $70k. This was a small 4 unit park where I could easily convert all the spots to TOHs vs POHs. Alas, it wasn't meant to be and I don't get into bidding wars. I diverted over to a 5 acre plot where I can put in a couple of tiny homes. 

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331
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Logan Laperriere
  • Real Estate Agent
  • Grand Rapids, MI
121
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331
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Logan Laperriere
  • Real Estate Agent
  • Grand Rapids, MI
Replied Feb 11 2024, 09:27

That is awesome! were all of the 73 units mobile homes?

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