All Forum Posts by: Ingrid J.

@Mindy Jensen Eyh thanks! You're awesome. 

Yes I know it's an old show, but it's a classic!

What's your favorite Seinfeld moment? 

Mine is the one when Kramer somehow ends up sleeping over at Seinfeld, and can't sleep. He turns on the light, picks up a random magazine and starts reading it to Jerry when he asks him what the hells going on.

 The look on Seinfeld's face is priceless. (From the episode The Wig Master.)

I'm probably way too late saying all of this but:

Awesome job David Greene. And a truly excellent job Brandon and David on the podcast.  

@Brandon Cravens Agreed. Would be nice with even more activity on the forum, and I think that can be accomplished when it's easier to find. Also, I don't know about y'all, but from what I've heard some mobile home park owners/sellers aren't that computer savvy. So the more visible, the better. 

@Abad Marroquin I would recommend looking at what two-bedroom apartments rent for in the same town. In general most mobile home park investors recommend a MHP lot rent of 50 % to what regular two-three bedroom apartments rent for in the area.

Also, what are you planning on giving back to the mobile home park? I would device a 90 day plan in which you deliver some value to the park (paved roads, new sign, get rith of old stuff on the lawns or old, vacant homes). That way the tenants can see the lot rent increase in relation to what you have provided to the park as the new owner. 

Best of luck!

Hey Biggerpockets support and members.

I love mobile home parks, but I can have trouble locating the mobile home park forum among the forum categories here on BP from time to time. It's currently found in the "Landlord & Tenant Forum".

Shouldn't the mobile home park forum be in the Commercial Real Estate forum? I think it would make more sense as MHPs are multifamily, and I can't see any reason why it should be one of two categories in the Landlord & Tenant forum. I mean sure it deals with landlord & tenant issues, but commercial real estate is more fitting due to its scale/size.

Just a suggestion. What do you think?

@Jomont Dotton Mobile home parks are a great investment vehicle. I can recommend listening to listening to podcast #246 of the Biggerpockets podcast with Kevin Bupp, a mobile home park investor. Kevin Bupp also has his own podcast shows "Real Estate Investing for Cash Flow" and "Mobile Home Park Investing". Good luck!

@Clint G. We're currently renting out a place without TV mounts. The reason why we don't allow them is due to a bad experience with our own TV mount, which took  a lot of work to remove from the wall. We had to apply several layers of paint to cover it up.

@Abraham Anderson Good post.

For capital expenditures I've seen many recommend setting aside 10 % of their gross income. It's probably a little too steep for mobile home parks. Like C.K. Ebert I would recommend looking into what the installation and materials of a new septic system would cost. Alternatively consider what you would actually do if the septic system broke and had to be replaced in its entirety. Would you reinstall a new septic or look into options for hooking up to the city sewer? Get a quote for the latter if it's something you'd consider.

@Nolan O. Having the constant worry of this company moving all their trailers out of the park causing a terrible vacancy is just not worth it, in my opinion. With the parks size on top of that (18 trailers) it would increase the problems you face with such a vacancy. If you had a big park, with say 100 trailers, and this compnay owned 8 trailers and threatned to leave, you could fill those lots easily and not worry that it would destroy your profit.