It seems to me this might be a better investment than SFH's ect. What is a general range for how much these things cost ie low - high? Also, what is a general range of income?
Other thank BP, what are some other great resources online for learning about investing in mobile home parks?
the free forum, home training and in person boot camp at mobilehomeuniversity.com is the very best source.
Read past example desls in this forum. Go back 1 yr and read every deal analysis.
also check out mobilehomeinvesting.com with John Fedro. He has mentoring but also you can listen to podcasts, videos and read articles. If you sign up for email then he sends you weekly "assignments" which are great and you can email him any time with questions. I haven't paid anything and have learned a ton!
I agree with Kurt that Frank & Dave's Boot Camp and other materials are a great starting point. Since you were looking for other resources, you might also want to look at http://community-investor.com/ which is George Allen's website. He also has a once a year meeting - The International Networking Roundtable that community owners from all over the country attend. (This year it is in San Diego from Sept 9-11.)
Offline, you might want to seriously consider joining the state trade association in the state or states in which you purchase a community. They are a very valuable resource for information on state laws and they work to protect the interests of community owners legislatively as well as provide networking opportunities with other community owners in the state ( An example: http://imha.org/ )
And Yes, land lease communities can be a far superior investment when compared to other types of commercial real estate. Run correctly, a community should net double the profits of a similar apartment complex. The catch is knowing what to buy and how much to pay for it which Frank and Dave can help you with, how to run it once you've bought it, and how to fill it and keep it full of owner occupied homes. It isn't as simple as SFR or apartments, but it is a whole lot more profitable if you know what you are doing.
Originally posted by @Curt Smith :
Go back 1 yr and read every deal analysis.
This just blew my mind Curt. Thank you!
Listen to the podcasts with Jefferson Lily and John Fredo. They are helpful, free and easy listening.
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!