Investing while holding on to your day job and how often to visit property

4 Replies

I would love to hear your actual experiences regarding the physical process of investing in MHPs. Before submitting LOI you need to visit the property. How do you handle it when investing out of state AND holding a day job? How many times do you visit the property during due diligence? I understand that once you own it you probably need to visit at least every other month or once a quarter. But how many times is it best to see the actual place while investing. Unlike single family houses Google Earth is not helpful here. We've invested in TX in single family houses without even traveling there with just our property manager reporting to us but this is way different.

I really would appreciate if anyone can share personal experience of investing in MHPs while holding on to your day job. Thanks. 

never use an LOI. Get the park under contract before doing due diligence. Once you get the 30 day guide you will have a better grasp on the process. You can get by with visiting once. Often times google street view can capture a lot about a park if not all. How often you visit will depend on the park (if you own any homes ) as well as your manager. It's probably good practice to visit more often when starting out until you have a grasp. Find local mystery shoppers to check your property and report to you periodically as a system of checks and balances. Find the park and get a contract on it then go from there.

Originally posted by @Jack Baczek :

never use an LOI. Get the park under contract before doing due diligence. Once you get the 30 day guide you will have a better grasp on the process. You can get by with visiting once. Often times google street view can capture a lot about a park if not all. How often you visit will depend on the park (if you own any homes ) as well as your manager. It's probably good practice to visit more often when starting out until you have a grasp. Find local mystery shoppers to check your property and report to you periodically as a system of checks and balances. Find the park and get a contract on it then go from there.

 30 day guide. 

Updated over 2 years ago

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Updated over 2 years ago

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mhu.com  they have a methodical step step guide of a park purchase in 30 days in their home study course.  Using it is about the best resource you can have when looking at a park. 

Thanks @Jack B.