All Forum Posts by: Ryan Groene

What is the lot rent, how many occupied, are they all park owned homes or tenant owned. What’s the utilities. Who pays what. 

Can’t justify that price until we know the basics. 

If you live near there, its probably a good little deal.  Be careful of septic, just do you DD on it.  IF you don't live close how are you planning on managing it

Yes, you will be required to put 20-30% down, interest rates from 6-8%, and amortization over 15-30 years, with a baloon payment in 5 -7 years

70-80%LTV is normal depending on your situation. It will really be based on personal income, etc.

You run test ads a number of places, You run them on craiglist, facebook market places, bandit signs, newspaper, anywhere local people will see the ad really.  Its different in all markets.

For this type of park and trying to fill, your going to have to pay for the move, which can range from 3-6k per home to move in set up, etc.  

Your going to need high demand to fill this park quickly

@Philip Arthurs I would run test ads to verify your claim.

The number one hardest thing in the business right now is filling vacant pads with organic move ins. Where people call you and wanna move. It can be done. Just doesn’t work in every market. 

What is the water? city im assuming based on your comments.  Where is the park located?  

If this park is not close to you..it will be harder work to do this type of project as it can require boots on the ground to infill a project liek this.

What is the price you are paying...your basically just paying for dirt at this point

MHP's deal flow is no secret.  It remains the same across all assets of real estate. Number one is to have a great database, then consistency to what you are doing.  Sending one mailed and one call may work, but 9 times of of 10 it won't.  Mailers, cold calls, emails, text messages, postcards, magnets, dropping in..etc.

Everything is about consistency and timing in this game.  Especially now that the word is out about MHP's. Reach out if you need some help, I'd be willing to help in anyway.  Its takes time and effort to get results, Ryan 

So is there only 23 paying tenants of the 47 pads? If so 625 is even way too high in my opinion. 

There are all kind of different avenues out there in order to connect. Plenty of in person groups, online, Facebook and LinkedIn groups. Normally being social and active online and networking that way can leverage you In better situations. 

Read books and reach out to authors, same goes for podcast.