Rental Property Investor · Moultrie, GA · Member since 2018 · 99 posts · 60 votes
So...my wife and I have been involved in real estate investing for some time. However, we’ve discussed the benefits of mobile home park investing from a financial standpoint. However, I’m very intimidated by the due diligence process and the potential for massive cap ex following taking over of a newly purchased property. Could I get some guidance on some of the major things I may encounter during due diligence and how to mitigate the major risks? Also, are there any resources (books, etc) that are recommended to prep and be armed moving into the due diligence process. Thanks team.
Hi Franky, I can't say I know much more than I am interested in mobile home parks.. I mean after hearing Brandon Turner's enthusiasm and reading Paul Moore's article on the lessons he learned from investing in MH parks, what's not to be excited about? That said, he also shares a free special report in which he covers some of the concerns you have specifically. PM me if you have questions!
Hi Franky, I can't say I know much more than I am interested in mobile home parks.. I mean after hearing Brandon Turner's enthusiasm and reading Paul Moore's article on the lessons he learned from investing in MH parks, what's not to be excited about? That said, he also shares a free special report in which he covers some of the concerns you have specifically. PM me if you have questions!
San Antonio, TX · Member since 2009 · 3k+ posts · 1k+ votes
5y
@Franky Davis I understand your fears. Some who have been scared to buy mobile home parks (but have experience in the mobile home investing business) mitigate their risk by taking on a partner with more experience. That's an option. Though, you'll have to make sure you have the details of a partnership figured out before you buy. Other than that, it's best to take things slow and learn as much as you can before you make a move. Best of luck!
Rental Property Investor · Moultrie, GA · Member since 2018 · 99 posts · 60 votes
5y
@HB Jenkins Thanks for your reply! That sounds like a good resource. I'll definitely check it out. Yea the asset class seems to have some real benefits if you can get past some of the associated stigmata.
Rental Property Investor · Moultrie, GA · Member since 2018 · 99 posts · 60 votes
5y
@Rachel H.I agree 100%. Taking on a partner would add a level of security and expertise for sure. I have heard partnership horror stories and am anxious about that slightly. However, I may put some feelers out and see if I'm able to find somebody that would fit the mold for us. Thanks for the advice!
Real Estate Investor · Watchung, NJ · Member since 2016 · 52 posts · 13 votes
5y
I can recall my starting out in the mobile home park asset class couple years ago. We have been fortunate to get good guidance when we started and happy to do my part. Fell free to connect with me and ask questions.