All Forum Posts by: Mark Podolsky

In this weeks land geek podcast, super attorney Jeff Lerman from Lerman Law Partners is THE real estate attorney for real estate investors and especially those looking to form joint ventures or syndicate.

Jeff explains the difference between joint ventures and syndication and which he prefers. He discusses what you should look for in a joint venture partners and how to leverage your resources.

If you want to be BIG this podcast is a must listen. Miss this podcast and Santa will skip your chimney this year.

CLICK HERE TO LISTEN

@Michael Faulk @George N. & @Jefferson Lilly 

 Thanks for the advice / help.

There are mobile homes in the sub now about 25. I'm flexible as to how to market and make this work.  I don't see too much risk since I own the lots free and clear and we can do a few test lots to see how many we can rent.

Regards,

Mark

Join me on this 70 minute webinar to learn how to buy and sell raw land:

We're Going To Show You...

Why combining flexibility with simple human psychology will stack the deck in your favor every time you cook up an offer.

The 7 best places to sell your land in the beginning before you have a pool of customers who love you and trust you.

Where to find smoking hot lists of properties loaded with motivated sellers and how to

Greetings all,

I have a 200 lot subdivision I own free and clear in East Texas surrounding a 40 acre lake. Most of the lots are .14 acres with for purely mobile home lots. There are no restrictions and power and water is already in place.

I purchased this land for back taxes and had planned on simply flipping the lots cheap. But since the bankruptcy of the developer this development sat for a long time. All of the paved roads need major repair and a dozen or so lots have had undesirables move in. Therefore I believe the best play is to partner with an experienced MH park developer and develop it into a nice mobile home park, perhaps age restricted. to 55 and over.

The location is Enchanted Lake at Holiday Pines about 20 minutes south of Mineola and 35 min north of Tyler, which is about 1/2 way between Dallas and Shreveport, east to west.

I get tons and tons of leads, mostly seniors wanting to either put a MH or RV or MFG home out there. But after they visit, the comments are typically “we love the area, its beautiful, but some of the people living there make us concerned for our safety”. Developing it would enable us to root this handful of people out.

The high level idea is that I would provide the land and the JV partner would develop the park with MH and improved roads in phases. The JV partner must be able to put boots on the ground. If needed I can assist in syndicating capital. The exit strategy is to get the park up and running profitably where we are doing standard space lease and MH developer selling the mobiles cash and terms, then sell the property and a nice low cap rate in 5-7 years.

The reason why I don't go it alone is because I don't have the experience in MH nor do I have boots on the ground or time to put my own boots on the ground.

If you have experience and are interested please reply. Or, if you know someone, particularly in East Texas let me know.

Thanks BP community!

Join me on this 70 minute webinar to learn how to buy and sell raw land:

We're Going To Show You...

Why combining flexibility with simple human psychology will stack the deck in your favor every time you cook up an offer. 

The 7 best places to sell your land in the beginning before you have a pool of customers who love you and trust you.

Where to find smoking hot lists of properties loaded with motivated sellers and how to

Hey Ross,

I've made a full time living since 2001 flipping over 3500 parcels of raw land.  I love the simplicity of the business and avoiding the 3 R's-- No renters, renovations or rodents!

To answer your questions: 

1. I was advised early on by my real estate attorney to sell all my property For Sale By Owner.  So you don't need a real estate license.

2.  I started out full time for 18 months before quitting my job.  I know most people in this niche work it part time. 

3. I think @Seth Williams has an amazing blog over at http://www.retipster.com.  It's all free and he's doing an amazing job educating people about land flipping and real estate in general.  It's in my opinion THE place to start. 

4. For my own shameless self promotion I have a podcast dedicated to land flipping at https://itunes.apple.com/us/podcast/the-land-geek/....  Plus I have a website dedicated to land flipping etc.  If you google me you'll see I also have a ton of free resources available as well and I have a blog on BP, etc.  

Best of luck in this lucrative non-competitive niche! 

See why everyone is raving about the Land Geek Podcast--

CLICK HERE for access and the FREE ebook.

FREE EBOOK: "5 Secrets to Making Passive Income in Real Estate with No Renters, Renovations and Rodents "

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Check out our free podcast on how to avoid renters, renovations and rodents!

FREE TRAINING HERE

Check out the Land Geek Podcast with BP member @Joe Fairless 

http://www.thelandgeek.com/joe-fairless/