All Forum Posts by: Jason Ray Richardson
Jason Ray Richardson has started 11 posts and replied 178 times.
Post: My First Mobile Home Park
- Rental Property Investor
- Brookhaven, MS
- Posts 183
- Votes 107
Originally posted by @Account Closed:
Congratulations Jason Ray Richardson!!! @jasonrayrichardson
I am a park owner in Indiana. If you need any help with anything, questions etc reach out and I'll do my best to help.
Nicki.
Thanks. I've noticed that on places like mobile home park store that there are a lot of parks for sale in Indiana. Is it a good market and everyone just trying to cash in or is everyone bailing for a reason? Thoughts?
Post: My First Mobile Home Park
- Rental Property Investor
- Brookhaven, MS
- Posts 183
- Votes 107
Thanks for the tips. I've never heard of Ryan Narus so I'll have to check him out. I'm thinking of going to the Frank Rolfe class the first week of October.
Post: Never Landlorded, What makes you do it over paying a PM
- Rental Property Investor
- Brookhaven, MS
- Posts 183
- Votes 107
Depends on a few things
1) How close you are to the rentals. is it realistic for you to manage?
2) Do you want to mess with it?
Though I'd agree that some property managers aren't worth it, there are missed opportunity cost dealing with the rentals when you could be looking for the next deal.
Post: 27 y/o Female – 50k debt to $1M+ net worth (24 units,50 deals/yr)
- Rental Property Investor
- Brookhaven, MS
- Posts 183
- Votes 107
That's great! You are way ahead of the game for most people your age. Your story is inspiring.
Post: My First Mobile Home Park
- Rental Property Investor
- Brookhaven, MS
- Posts 183
- Votes 107
Hey @Brandon Turner when are you going to do a webcast on buying a mobile home park with some dos and dont's? Maybe some things you've learned since you bought yours.
Post: My First Mobile Home Park
- Rental Property Investor
- Brookhaven, MS
- Posts 183
- Votes 107
Originally posted by @Elaine Lam:
@Jason Ray Richardson Congrats on your success with the BRRR and on finding your next deal. What are your plans for management for the MHP? Sounds like a lot of potential there...hopefully there areno other issues with any other bills or utilities!
I plan to self managed for the time being.
Post: My First Mobile Home Park
- Rental Property Investor
- Brookhaven, MS
- Posts 183
- Votes 107
Originally posted by @Blaine Alger:
36,000 for an 18 unit park. 2 park owned homes 12 tenant owned with 4 vacant. Lots not raised in years
Post: My First Mobile Home Park
- Rental Property Investor
- Brookhaven, MS
- Posts 183
- Votes 107
Originally posted by @Jeffrey Fleigel:
Not any good ones. I've heard all of the crazy stories of mobile home investors. I now have my own. We are supposed to close next week now. The garbage hasn't been picked up in forever and the water has been shut off for weeks. They had to pay 6,700 to pay back bill and get it turned back on. If it wasn't a 30 cap I would have backed out
Post: My First Mobile Home Park
- Rental Property Investor
- Brookhaven, MS
- Posts 183
- Votes 107
I meant to add that if there was anyone that has experience in this space that I welcome your feedback, tips, advise.
Post: My First Mobile Home Park
- Rental Property Investor
- Brookhaven, MS
- Posts 183
- Votes 107
I close on my first mobile home park Friday. It's a 17 space park with two being occupied by park owned homes. It was a rushed deal but I had several people look at it because it looked to good to be true. I was fortunate enough to have the cash on hand to be able to make the deal happen. How you may ask? Because I just got through BRRR'd a foreclosure I purchased last year. This stuff works, if you work it. So excited and can't wait to get things rolling.