All Forum Posts by: Chris Gavre

 Are you renting out just the pads or park owned homes? I’m looking at one now that I’m thinking of just renting out the pads but felt like there’s less demand for that?

It seems like it’d be a whole lot easier to manage, but how can people who live in mobile homes afford to have them moved then set up in a new park? Or is this something, as the park owner, that you pay for? Thanks!

What success have you guys had renting out just lots?

I’m looking at a park that does not come with any homes, and was considering just renting the lots out. 

is there less of a demand? Does it take a while to get tenants in there? What has your experience been?

Hi everyone,

My classes to get licensed as an agent begin tomorrow. I wanted to post on here and ask a few questions regarding the industry. 

1) What does your day activities look like to get new clients?

2) How do you generate most of your leads?

3) What would be your best piece of advice for new agents?

Thanks in advance!

Jack, Thanks for the response. I was actually wondering whether or not you could get refinancing on a park.... Was looking at a park that would give me about a 1400/month Cash flow, however, I'm 21 years old and don't even own my own house yet. Was afraid of locking up all this debt, then being stuck renting where I live for the next 3 or so years until I'd be able to refinance, if that was even possible.

Not concerned about the debt itself, more concerned about not being able to get my own house and just throwing money down the drain by renting my apartment for $800/month. What are your thoughts on this? It's kind of the reverse order of how many people would say to invest. Most would probably say get your own place, house-hack, then invest in a rental/flip/etc.

Expenses were about $20k/year from this park, 67k in total rent revenue, could get the park for about 280k, 9 units with room to add 2-3 more mobiles in the future. Would have to leverage about 240k on a 10 year loan around 6.5% interest. Leaving me taking home around 16k profit for the first few years... assuming no surprises in terms of expenses.

Anyways, long response, but would love your feedback on this. 

Thanks

How do you guys finance mobile home parks?

Banks of course won’t, I’m trying local credit unions and they aren’t willing to either.

How do you set up a deal with a local investor? Do you give them a percentage of the cash return each year/month, a stake in the park itself? How does setting up deals like that work?

Thank you!

Hey guys, I'm a newbie in the Real estate game. Been trying to get a home under contract. All I've done is drive for dollars, write out a big list, next day cold call all of them. Most people won't answer, I leave a voicemail and don't hear back. People that do answer either say no, or give me some crazy price like "I'll sell it to you for $265k" and it's worth like 30k tops.... (actually happened).

How did you get your first deal? Was it driving for dollars and cold calling? sending mail? what worked for you?

Keep hearing you guys mention "lists" if someone could explain that, what they are exactly, and how you find them I would appreciate that as well. 

Thank you.

Actually looking to buy one and get started. Do you typically recommend buying the land and putting it on there, or putting it in a mobile home park and paying lot rent?

Do the tenants in mobile homes typically pay rent and lot rent? or you pay lot rent?

 Great idea! thank you for this! Will check out the book as well. 

Thank you very much!

 I appreciate these pointers Mason. One thing is, it's difficult to provide leads to multiple agents. Do you have any suggestions that could apply to multiple agents?

I always feel bad reaching out to agents saying "hey I own a pressure washing company, I'm reaching out to see what I can do to be one of your go-to guys", because it feels as if I'm just taking from them rather than giving.

Interesting, saw a different thread about this, however mine is for completely different reasons. I own a pressure washing company and it is my main way to fund my future real estate endeavors.

How can I add value to realtors in my area to become their "go-to" pressure washing guy? I feel as if many competitors walk in there hand business cards out and simply say "call me" sort of thing. how can I stand out from this and win the hearts of realtors :)?