Updated 6 months ago on . Most recent reply
From 0 to MHP
I'm a 16 year old kid and I'm really into real estate. I'm going to college after HS to be a youth pastor but I want money as well.
I see that MHP have the potential cash flow really well and there's a lot of upsides.
Can anyone tell me about their process to purchasing a MHP and how they got the capital to get started.
Or if you have any advice on how to get your first deal that's something other than a traditional buy and hold property.
Most Popular Reply
Your desire to be a youth pastor is both commendable and admirable- unfortunately it is not conducive to an acquisition of money and wealth. To own and profit from commercial real estate you will need significant capital to get leverage to purchase anything. There is no 100% financing out there for MHPs and even if there was it would pencil through to allow a significant bottom line NOI.
Invest your college money in engineering or accounting (fields where most millionaires reside) and then leverage your wealth to serve youth.