All Forum Posts by: Leslie A.

Lee,
I haven't bought any MHPs,but from what I've read price is based on actual Net Income. Based on $2616 NI, to me it would be worth about $26,000.
Of course, in this case, there is a great potential to raise rents,so good upside. But the NI is really low, and is really what an offer should be based upon.

Lee,
About how much per month are you getting per home you sell?
You could try to sell some of your notes, or just sell partials of your notes - for instance - a years worth of payments.
Perhaps you could work harder to find some lower priced homes to buy. That should help cash flow a lot.

Greg,
Thanks for adding that. I remembered the initials, but couldn't remember what they stood for, except for that naughty phrase. :wink:

I don't know about your state, but here in Texas you have to make sure the property taxes are paid up to transfer the title (and it's called something else here). So you should definitely make sure the seller has paid them.

Philip,
I don't have any pictures, but I would say parks vary drastically in their quality and appearance. I've driven through some that were truly frightening and I can't imagine anyone but gang members wanting to live in.
But others were beautiful and perfectly maintaned.
I wouldn't invest in the bad ones, no matter how cheaply I could.

Ted,
I forgot to say, congratulations on talking to your first manager. That's probably the hardest first step to take. You did great!

Ted,
When I was looking for mobiles to buy, I found that some park owners were negative about investors, and others were very eager to have investors in the park. I even found a couple that were perfectly willing to let me rent homes (though that wasn't my plan).
Like Eric said, I found one who offered to pay $2500 to move a home in. I think a lot depends on how many vacancies the park has.
So, keep talking to managers and you will find cooperative ones.

HI Joe,

When I was looking for homes to buy, I could only find homes that needed much work - at least in the price range I could afford.
Do you do your own repairs or pay for contractors?

It used to say "Trailers & Mobile Home Park Investing", didn't it?
Good change. I don't like to call them trailers, but every now & then it slips out.

About $5,000 in profit to date, but I'm very, very small time and started with nothing.

The site indirectly led me into a different type of investment where I expect to be able to earn a full time income before the end of the year and continue growing my capital.