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Mobile Home Park Investing

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Logan M.
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  • Provo, UT
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Being the BEST Operator

Logan M.
Pro Member
  • Investor
  • Provo, UT
Posted May 20 2024, 08:34

The greatest secret to business is learning how to be an exceptional Operator. This is the person who ensures the implementation of the overall strategy of the business.

In the mobile home park investing niche, I have found a near-limitless opportunity in underperforming parks. There are several reasons why they are underperforming, but I want to focus on the opportunity it creates. If you know how to maximize your communities you can repeat that strategy over and over again. This could be rent collection, filling vacancies etc etc

Being a savvy Operator coupled with Seller Financing removed 99% of your barriers and allows you to repeat it over and over again.

Recap:

Learn to operate communities at an effective level.

Learn creative financing to lower the barriers of entry and increase ROI.

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Jordan Moorhead
  • Real Estate Agent
  • Austin, TX
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Jordan Moorhead
  • Real Estate Agent
  • Austin, TX
Replied May 20 2024, 10:50

Love this! What's the best way you've found seller financed deals?

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Wyatt Wolff
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  • Charlotte, NC
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Wyatt Wolff
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  • Charlotte, NC
Replied May 20 2024, 10:58

Take my vote! The first sentence alone is something that 99% of people need to hear and internalize. 

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Logan M.
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Logan M.
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  • Provo, UT
Replied May 21 2024, 09:40
Quote from @Jordan Moorhead:

Love this! What's the best way you've found seller financed deals?


 Talk to the owners directly and figure out what their needs are. 

Rarely will they say a bunch of cash, it usually is something else like more freedom etc

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Logan M.
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Logan M.
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  • Provo, UT
Replied May 21 2024, 09:41
Quote from @Wyatt Wolff:

Take my vote! The first sentence alone is something that 99% of people need to hear and internalize. 

 Thanks @Wyatt Wolff I wish this was a bigger part of the investing conversation. I have yet to read anything that dives into Operating in real estate.

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Wyatt Wolff
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  • Charlotte, NC
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Wyatt Wolff
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  • Lender
  • Charlotte, NC
Replied May 22 2024, 06:57
Quote from @Logan M.:
Quote from @Wyatt Wolff:

Take my vote! The first sentence alone is something that 99% of people need to hear and internalize. 

 Thanks @Wyatt Wolff I wish this was a bigger part of the investing conversation. I have yet to read anything that dives into Operating in real estate.


 I think its more of a business and life lesson honestly... become a master of your craft, and everything else becomes much much easier. I feel like too many people ignore the actual hard biz skills, and  and instead focus on number of doors or other metrics. You can make a lot by becoming good at one strategy, but if you learn and constantly work on industry knowledge as a whole, you become unstoppable.  -Shamelessly paraphrased from Andy Frisella 

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Matt McCurdy
  • Real Estate Coach
  • Cedar Rapids, IA
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Matt McCurdy
  • Real Estate Coach
  • Cedar Rapids, IA
Replied May 25 2024, 19:04
Quote from @Logan M.:

The greatest secret to business is learning how to be an exceptional Operator. This is the person who ensures the implementation of the overall strategy of the business.

In the mobile home park investing niche, I have found a near-limitless opportunity in underperforming parks. There are several reasons why they are underperforming, but I want to focus on the opportunity it creates. If you know how to maximize your communities you can repeat that strategy over and over again. This could be rent collection, filling vacancies etc etc

Being a savvy Operator coupled with Seller Financing removed 99% of your barriers and allows you to repeat it over and over again.

Recap:

Learn to operate communities at an effective level.

Learn creative financing to lower the barriers of entry and increase ROI.


 1000% agree!  Just to be clear, YOU don't have to be the operator, but YOU need to have known how to do it and ensure the operator you employee (either as in house or through a PM company) needs to know how to do this at a high level.  I've found having clear flowcharts and processes for the business creates a high level of success and less failures in the future.

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Kara Johnson
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Kara Johnson
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Replied Jun 3 2024, 15:25

Would any of you operations gurus be up for a quick conversation? We are wanting to scale and struggling with how to eat the elephant here ; )

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Kara Johnson
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Kara Johnson
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Replied Jun 3 2024, 15:25

Would any of you operations gurus be up for a quick conversation? We are wanting to scale and struggling with how to eat the elephant here ; )

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Wyatt Wolff
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  • Charlotte, NC
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Wyatt Wolff
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  • Lender
  • Charlotte, NC
Replied Jun 3 2024, 18:46
Quote from @Kara Johnson:

Would any of you operations gurus be up for a quick conversation? We are wanting to scale and struggling with how to eat the elephant here ; )


 Shoot me a PM!

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Logan M.
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Logan M.
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  • Provo, UT
Replied Jun 4 2024, 15:28
Quote from @Kara Johnson:

Would any of you operations gurus be up for a quick conversation? We are wanting to scale and struggling with how to eat the elephant here ; )


 I am always open to a conversation to see if I can give you some tips but I am far from being a perfect Operator