All Forum Posts by: Logan M.

The best sources we have been using lately have been in this order:
1. Zillow PAID marketing

2.  Current tenants (This may be tied with

3. Facebook Groups like local garage sale sights

4. Facebook Marketplace

5. Signage and lots of it

With all that said @Mario Dattilo is correct and our spaces for rent are already occupied with homes. You may check to see if your municipality will allow you to temporarily place RVs in those spaces.

We have been filling about 6 units a month for almost this entire year so we are getting pretty good at it, feel free to reach out for additional help.

This is going to be very situational like @Paul De Luca said check with any HOAs then check with the city, county, and state to understand how the laws would impact you.

If you are in the Chicago Metro I imagine you have this happening all over the place.

Maybe try talking to an attendant at one nearby and see what they run into.

How many spaces are you planning to rent?

Call every credit union in your state and find one that will lend on it.

You could also ask the lender what the actual underwriting guideline says, it wouldn't be the first time they were wrong...

Our investing strategy is simple 

1. Buy the right properties 

2. Use creative financing as much as possible. 

3. Only purchase properties with value-added opportunities.

and my bonus tip would be to make sure that the properties cash-flow upon purchase, missing this could cause you some pain.

DON'T OVERCOMPLICATE THE BASICS

I know there are caveats to each one of these but most investors never start because they overcomplicate the process.

The biggest myth of real estate is that it is passive income. 

There are some aspects that are more passive but the process of investing in real estate is anything but passive.

Most Gurus sell an expensive program and that is as far as their real estate investing success has gone. They try to sell a "shortcut" a "secret" when the only shortcut is that there is none, it takes work.

Here are my three characteristics that are essential to being successful:

1. Grit, I know this is overused but I like the idea of the tactile feeling of dirt or sand in your fingers. It is gritty, it is uncomfortable, and it causes discomfort, this is real estate investing. You literally have to deal with people's sh*t, there is no way around it, that is just how it is, and having the mindset that it is part of it makes it easy to power through the hard times.

2. Unceasing desire to learn, be a sponge, learn everything you can about the asset classes you feel most interested in. Do not base your learning on what will make you rich quickly, real estate is about the long game. Learn from your failures, learn from the days that suck but also learn from others and their failures. it will save you a lot of time and money.

3. Know where you are going. I know it is cliche in many circles talking about your "WHY" but you need to understand that knowing where you want to go allows you to draw up the map. Real Estate is beautiful because you can choose how big you want to go and make it happen. It is like walking into a grocery store, you are not there to buy everything just specific items, so your "WHY" is like writing up your grocery list so you buy the right stuff.

The bonus characteristic is GUTS, having the guts to make the right decision when the opportunity arises.

If you can master these you are well on your way to being the next Donald Trump.

 I agree that your observation is a possibility. I don't know if they will be able to hold them high though as a lot of corporate debt is coming due and the FED has two mandates:

1. Protect the dollar (Price stability)

and

2. Maximum employment

Feel free to reach out I would love to see how I can help make the process a little smoother for you.

 I saw this one!

My dad always sends me every news article on MHPs he can find the good, the bad, and the ugly.

You know the real problem???

Local governments and counties won't allow MHPs to be built creating a monopoly for anyone who owns one. 

The system is rigged.

Any owner carry opportunities on this?

I would put Mobile Home Park investing up against any other asset class.

You tell me what other asset you can rent land to someone, have nearly a guaranteed tenant for decades and you can buy many communities for almost nothing.

Of the eight communities I have taken down 6 were seller-financed and the other two were a great deal. Of the 6 seller financed, 3 were nothing-down purchases.

YOU CAN'T BEAT IT!