All Forum Posts by: Mike G.

@Bryan Wilhelm did you and your partner end up closing on any of those parks you mentioned in this thread some 2 years ago? 

@Dana Nay not sure if this helps or if in the year since you posted that you found a solution but i would take a look at MHvillage.com  i know they have a section on that site where you can list individual mobile homes for sale. 

@Gulliver R. you got to look at and analyze the financial statements of the park. 

There are many variables to consider in the valuation of a MHP. But without seeing financials your just shooting in the dark which will put you out of the game quick. 

How to evaluate a MHP

@Abraham Anderson so basically one old guy has another old guy who is a Lonnie dealer inside his park and owns 70/100 mobile homes in the park. I would do some due diligence on those two old guys. That would worry me, they may be honest good ol' boys or they may not be. They have obviously been doing business together for a long time for one guy to own 70 homes inside his park. I would ask alot of questions about why this park is set up this way. That is a strange set up. 

south side chicagoland. I know the area well. It seems that this market along with every market across the country is riddled with cash buyers so its very competitive. 

@Dennis Pressey Jr 

@Mike G. Skill 1 is marketing. Skill 2 is time ans people management. Skill 3 is making logic based decisions and leaving your emotions at home. Being a successful wholesaler or rehabbed has nothing to do with going to trade schools or picking up hammers - learn how to manage people. The hardest workers are the poorest, smart workers are the wealthiest.

Sound advice Dennis. Focus on the business and marketing and lead gen and leave the hammer swinging to the people i hire the jobs out to and manage while running it like a business and leaving my emotions at home. 

"hardest workers are the poorest, the smartest workers are the wealthiest"   <-------KILLER!!!!  

@Uriah D. ok that is good. valid point, I will have nothing to rehab or flip if I dont go out and find the deals i want that work for my business model myself. I could rely on other wholesalers, MLS, agent, craigslist, etc but why when i can do that marketing and lead generation myself.

reading this particular thread on fund and grow. . . ive got to say is priceless.  . .  thanks for all the good info from so many people there is too many to list. 

@Jorge Garcia is it 30k or 60k? what is address so i can do some research? 

@Mike Doyle Mitch brings up some excellent points. In addition browse around the BP hallways and look in the forums and it wont take long to figure out what spots folks are talking about. 

@Mitch Messer great points mitch lots of good info there on selecting the right out of state market. 

Also you can check this article out as well. Out Of State Investing

Hope that helps