Mobile home park investor community

Mobile Home Park Investing
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Mobile home park investor community

Brian Mitchell
Tucson, AZ · Member since 2017 · 23 posts · 16 votes
Tucson AZ investor looking to connect with others across the country interested in mobile home parks as their main source of investments. Would love to share ideas, network and create a community of like minded individuals interested in mobile home parks. Anyone out there wanting to join in the conversation, say hi, introduce yourself and tell us a bit about you and what you are doing regarding mobile home park investing Brian Mitchell Tucson Az
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John Jacobus
Investor · New York, NY · Member since 2016 · 224 posts · 333 votes
8y

@Brian Mitchell, we're building a portfolio of MHP's to complement our multifamily investments.  We've been pursuing MHP's for about 10 months and have two under contract.  It will continue to be our focus for the foreseeable future.  While we still like multifamily, it's been very difficult to find value.  Besides, we just really like the dynamics of the MH industry.  We look nationwide for parks while avoiding the west coast, Florida and New England.   Our website describes a bit more about what we're doing with MHP's:  www.LJCommunities.com

I lived in Tucson for 4 years while attending the UofA and would love to own more parks in the southwest.  In fact, I'm traveling to Texas this weekend to connect with a few owners in DFW and San Antonio. I don't have any other MHP events/conferences on my calendar for 2018 but it would be great to see you at a future MH event. The MH owner community is a great group of collaborators, educators, and connectors.  Reach out to me any time.

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  • Aman S.
    Investor · South Riding, VA · Member since 2010 · 74 posts · 26 votes
    8y

    I purchased my first park in WV this year and looking to acquire more in VA/MD/WV/PA/NC area.

    2Reply
  • Ryan Groene
    Specialist · Cleveland, OH · Member since 2016 · 186 posts · 173 votes
    8y

    Mobile Home Park investor based in Cleveland Ohio.  We look for parks nationwide, and our more cashflow/opportunity driven, that way we don't limit ourselves to only certain markets and miss out on a very good deal.  Its works for us at the moment, and the ever dwindling inventory and Mom and Pop owners, i believe everyone should be focusing their efforts on doing this as well.  Start small and have a team that you can dedicate to certain areas of the country.  Then the deals will flow from there and properties will get tied up and acquired.

    2Reply
  • Gulliver R.
    Rental Property Investor · Seattle, WA · Member since 2016 · 524 posts · 148 votes
    8y

    my name is Gulliver and I invest in MHPs and RE in general. I live in Seattle. But I can invest anywhere. Sign me up for the club!

    Message me anytime! 

    Best,

    Gulliver

    1Reply
  • John Jacobus
    Investor · New York, NY · Member since 2016 · 224 posts · 333 votes
    8y

    @Brian Mitchell, we're building a portfolio of MHP's to complement our multifamily investments.  We've been pursuing MHP's for about 10 months and have two under contract.  It will continue to be our focus for the foreseeable future.  While we still like multifamily, it's been very difficult to find value.  Besides, we just really like the dynamics of the MH industry.  We look nationwide for parks while avoiding the west coast, Florida and New England.   Our website describes a bit more about what we're doing with MHP's:  www.LJCommunities.com

    I lived in Tucson for 4 years while attending the UofA and would love to own more parks in the southwest.  In fact, I'm traveling to Texas this weekend to connect with a few owners in DFW and San Antonio. I don't have any other MHP events/conferences on my calendar for 2018 but it would be great to see you at a future MH event. The MH owner community is a great group of collaborators, educators, and connectors.  Reach out to me any time.

    3Reply
  • Brian Mitchell
    OP
    Tucson, AZ · Member since 2017 · 23 posts · 16 votes
    8y

    Thanks for the replies everyone.  I'm hoping any or all of you would be willing to share details of the MHP deals you've done so we can all learn from each other...Anyone willing please share as much detail as possible such as number of units, #of park owned homes, purchase price, lot rents, loan structure, infrastructure, capital improvements needed, value adds etc...

    mistakes made, hindsight lessons etc...

    1Reply
  • Tyson Cross
    Investor · Portland, OR · Member since 2013 · 133 posts · 88 votes
    8y

    Hey, mhp investor out of Portland, OR. I love mobile home parks and am focusing more attention on it these days. I have one park in the midwest and am close to putting two more in contract - 1 of which is out here in OR. I love networking with mhp investors and happy to collaborate on ideas/strategies etc. Best of luck to everyone!

    3Reply
  • Keith Meyer
    San Diego, CA · Member since 2017 · 105 posts · 55 votes
    8y
    MHP investor based out of San Diego. Currently marketing for parks in New Mexico, Arizona, Utah and Nevada. Own a park in Kentucky and in Indiana. Through my marketing efforts finding that there are still potential deals to be had. Still a high percentage of owners who are getting up there in age, and cap rates for MHP are still several percentage points higher than other asset classes. It's important to focus on being a problem solver for potential sellers, and to develop genuine relationships. I don't find that part hard, these are nice people with interesting stories in almost all cases. Highly recommend getting on the phone and seeing how you can lend a hand (connect buyers and sellers, educate owners on CASH program, educate on tax deferral methods, etc.)
    2Reply
  • Brian Mitchell
    OP
    Tucson, AZ · Member since 2017 · 23 posts · 16 votes
    8y

    Hi Keith. I was born and raised in Utah and have a few contacts there of people buying and selling MHPs. Let me know what you are looking for and I can get the word out

    1Reply
  • Joshua DiazPro Member
    Rental Property Investor · Bronx, NY · Member since 2015 · 269 posts · 165 votes
    8y
    @Brian Mitchell Hey thanks for starting up this thread. I don’t have any MHP under my belt but I am definitely interested in the space and am learning everything I can. MHP seem so fascinating to me.
    0Reply
  • Brian Mitchell
    OP
    Tucson, AZ · Member since 2017 · 23 posts · 16 votes
    8y

    i mostly hear people wanting to have purely tenant Home owned parks and I can understand that, however I have a friend who thinks the opposite. He just renovated a single wide, put washer and dryer room right in the middle with separate door with locks and is renting the place out like a duplex!!  

    0Reply
  • Joshua DiazPro Member
    Rental Property Investor · Bronx, NY · Member since 2015 · 269 posts · 165 votes
    8y
    Originally posted by @Brian Mitchell:

    i mostly hear people wanting to have purely tenant Home owned parks and I can understand that, however I have a friend who thinks the opposite. He just renovated a single wide, put washer and dryer room right in the middle with separate door with locks and is renting the place out like a duplex!!  

     And that’s awesome.  It’s what I keep hearing from everyone; there’s more than one way to do real estate.  If it works, it works!

    0Reply
  • John Jacobus
    Investor · New York, NY · Member since 2016 · 224 posts · 333 votes
    8y

    All,

    We placed a MHP under contract this summer in Fayetteville, NC and are now looking to assign the contract. We sourced this deal through a friend who contacted the owner via direct mail. At the time, they were starting a fund and didn't have time to pursue this MHP. We spent July/Aug conducting due diligence and re-negotiating terms with the owner. We have decided to drop the deal due to the time, effort, and capital required to resolve the contaminated water well in the park. Please let me know if you or anyone in your network might be interested in taking over this contract.

    1Reply
  • Jordan MoorheadBusiness Member
    Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
    8y
    @Brian Mitchell don’t own one yet but am looking to get into it. I have some C class apartments now.
    [email protected]512-888-9122
    The Moorhead Team5140 Reviews
    WebsiteView Page
    0Reply
  • Jesse Harris
    Flipper/Rehabber · Richmond, VA · Member since 2018 · 57 posts · 19 votes
    7y
    @Aman S. I am in Va, just south of Richmond. Would love to team up and look for Parks. Jesse
    0Reply
  • Jesse Harris
    Flipper/Rehabber · Richmond, VA · Member since 2018 · 57 posts · 19 votes
    7y
    @Aman S. I am in Va, just south of Richmond. Would love to team up and look for Parks. Jesse
    1Reply
  • Kash P.
    Rental Property Investor · West New York, NJ · Member since 2017 · 7 posts · 0 votes
    7y

    Hi, im an experienced multi-fam investor looking for MHP deals.  Please present any that you can share, happy to pay a fee on a successful deal.  Also happy to team up with others that have prior experience in the space.  

    @John Jacobus your business model looks great, out of curiosity, why do you not invest in CA, FL, and LA?

    Regards,

    Kash

    0Reply
  • John Jacobus
    Investor · New York, NY · Member since 2016 · 224 posts · 333 votes
    7y

    @Kash P.I find it difficult to find value in those states.  Parks are typically overpriced there and it’s not worth my time to look there.  Others know how to succeed there better than I do.

    1Reply
  • Mike G.
    Real Estate Agent · Las Vegas, NV · Member since 2016 · 589 posts · 275 votes
    7y

    @Brian Mitchell

    I'm open to networking and contributing and learning from the MH community here as I am actively looking to get my first park under contract. Would Love to discuss stratagies for marketing to mom and pops and any tactic that would help land a park under contract as that is the goal.

    0Reply
  • Rahul Bhongir
    Dallas, TX · Member since 2016 · 1 post · 0 votes
    6y

    Hello everyone, I am Rahul from Dallas, Real Estate Investor, I did single family rehabs and I am very interested in networking with anyone interested in Mobile Home Parks.  Please let me know how I can be of help.  

    0Reply
  • Reid Allen Holcomb
    Member since 2018 · 2 posts · 0 votes
    6y

    Hey Rahul, I work in the mhp business here in Dallas.

    0Reply
  • Rudy Curtler
    Rental Property Investor · Minneapolis, MN · Member since 2018 · 38 posts · 27 votes
    6y

    @Brian Mitchell, I realize this is an old post, but replying nonetheless.  I am currently working on my 5th MHP deal.  We are syndicating this one with funding still open (though we are getting close).  Open to connecting with other like-minded investors to discuss more.

    Regards,

    Rudy

    0Reply
  • Craig Salzer
    Milwaukee, WI · Member since 2020 · 38 posts · 13 votes
    6y

    Since this post looks like it's been resurrected...  I've been looking at the MHP space for the past 6 months or so and am interested in jumping in.  I've been primarily looking in the Midwest but am open to other options.  If anyone is looking to partner, let me know, I'd like to discuss.  

    1Reply
  • Dominique Rogers
    Lender · Logan, UT · Member since 2018 · 10 posts · 2 votes
    6y

    I currently own one MHP and just put an offer on another one. I am currently looking for MHP in Utah and Idaho. For those of you that have deals, how are you finding them?

    0Reply
  • Perri Weber
    Real Estate Broker · Vancouver, WA · Member since 2020 · 23 posts · 12 votes
    6y

    Hi there! I am a commercial broker in the MHP world, closed 5 parks last year and scheduled to close a 98 space park on Tuesday. Happy to connect with anyone in the MHP field. 

    @Dominique Rogers finding deals is the trickiest part.. that is what I do full-time. I would recommend 1) positioning yourself in ready to buy position 2) contacting other commercial brokers in your area to get on a buyer list (make it known that you are financially ready to purchase) 3) research MHP owners and contact them directly 4) go to local MHP association meetings to network

    2Reply
  • Colin Smith
    Rental Property Investor · Ocean Isle Beach, NC · Member since 2019 · 4 posts · 2 votes
    6y

    I have been looking for a multi family investment property in the midwest, and a MHP just came across my desk. Anything that I should focus on from the start, or instant red flags that are show stoppers?

    0Reply
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