All Forum Posts by: James Park

Thanks @Rachel H.

@Janice V. short term working capital from where? I’d definitely look into it but not sure where

@Thomas Gardner that would be ideal other than the fact that transport and setup can be expensive. I have 19 vacant lots and moving and setting up 19 homes could cost me $100K or more, which I don’t have.

@Gulliver R. that’s the problem. The banks I’m talking to now won’t lend me more money against the properties. They need to produce more income, but can’t without more investment dollars. So it’s a catch-22.

@Gulliver R. between both parks, I have 19 vacant lots out of 55 lots.

Hi everyone,

About a year ago, I decided to focus my investing efforts on mobile home park investing.  It's been an interesting journey so far, but I've had some success buying some out-of-state properties - specifically in Indiana.  FYI, I'm from California and don't know anyone in Indiana whatsoever.

Nonetheless, it's been a good experience so far.  

I have purchased and flipped a distressed mobile home park.  From there, I acquired a small park (14 lots) and about to close on another 41 space park less than a mile from the small park I currently own.

The great thing is I was able to purchase these parks with very little down.  

The bad part is, the banks have only been willing to finance the park, but will not allow me to borrow money in order to bring in used homes to fill those lots up.  That's what is really needed in order to maximize the revenue and value of the park.  

Does anyone in this forum know lenders that might be willing to assist with something like this?  I'm open and flexible to different options including possible partnerships if it makes sense.  

I understand the Clayton CASH program, but they require the park owner to be a dealer, which I'm not.  I'm looking into getting a dealer's license but so far it's been a confusing process and I don't know if I will qualify.  

So for now, I'm looking for funds to bring in mobile homes into my communities, which will really help boost the value of my parks substantially.

If anyone knows someone, or can suggest any good options for this, I'd greatly appreciate it!

-JP

Great info, thank you. Go all the way or not at all. Love it!

Yes please provide date and time

Hi Michael Cohen, what compelled you to move from Beverly Hills to AL? I'm an Orange County guy myself and have heard Huntsville could be a good place to invest due to increased defense spending and the naval base there. Any particular reason why you made the move? Just curious! You must really believe in the area to pick up from here and live there.

Hey Jeff, I know you... we were no hat seo interns together right? I thought your name looked familiar so I checked my email and your name popped up. How have you been?

Hi all, I'm sure this question has popped up before but I haven't been able to locate it, so here's my question: if you are buying a rehab home that has squatters living in it, what do you do to kick them out AND prevent them from coming back? It wouldn't be too difficult to remove them, but as you spend your days rehabbing, they're liable to come back at night and steal/damage your property since you're not there. Let's assume the area isn't in a place where you yourself would ever want to spend the night. How does one prevent this??