Mobile Home Park investment

3 Replies

i found a property that cost 600k, the numbers show 225k a year before expenses. which would give a 2.6year return based on (600,000/225,000=2.6years). the only problem is, me and my fiance have no finances for a down payment, and trying to obtain that type of cash, (60-70k) would either take wayy too long or be nearly impossible. we are looking for someone to do a deal with us to let us borrow 60-70k on a contract agreement so we could pay a down payment on a 600-700k loan. the property has been up for about 6years and the monthly income is around 15-18k a month. with me buying the property, it would only switch the owners from them to us. and the very next month after the month of purchase, the 15-18k would come directly to us and we would be able to pay back anything we owe to whomever does a deal with us. if anyone could help with this, id be glad to call or email you about more information on this property but only serious inquiries.

@Tariq Arriaga

Do you have the experience to execute the plan? What about funds to maintain operations? What kind of financing are you securing that allows all funds for downpayment to be borrowed without the guarantee from someone else? Why would somebody put all the funds for the downpayment and not just buy if themself and put a property manager in place. The amount of time spent vetting you would likely be less than a local PM company. The question you need to be answering is why would somebody want to trust you with no skin in the game to do this deal with their money. If you don't have the funds for the downpayment I'd also consider what you can do to save some of the downpayment. When I had just graduated from college I was living in a trailer park with a 65 year old I met on craigslist because rent was only 250 bucks a month but I knew the sacrifice (especially my social life because I was single) would get me a downpayment on a second house. One of the first things I look at in investing with others who say they have no downpayment or money is how they live the rest of their life. Yes I have a big house now and go on vacations all the time but the best equity is sweat equity and if you have no money you probably have not paid your dues.

@Tariq Arriaga

If you have no money and experience (only an assumption), you may want to consider wholesaling the property.  On the other hand, if you have experience, then I suggest you advertise it under BP marketplace clearly indicating what is it you're bringing to the table and what you're looking for from your partner(s).