All Forum Posts by: Kathy Miller

I know that MHP ownership can be a cash flow machine, but am having trouble with the risk/reward matrix. The park I am analyzing has 21 park-owned homes and an on-site manager. Park is near several larger cities and shows good rental history, BUT it is a cash only rent-by-the-week furnished deal and the on-site manager has only been there for a few months. It is located 2 hours from my home and I don't want to make more than weekly trips to collect monies. Seller has operated the park for the last 30 years and shows average monthly NOI of $10,000 or more. Tenants are what you would expect for this type of rental. Suggestions?

Thanks for the welcome. And yes, Adamsville is middle TN,

Hello all! I am new to BiggerPockets and can't wait to connect with other real estate junkies. A little about me: My first rental property was the house I lived in before I got married. It was near Daytona Beach so I decided to keep it and let a tenant pay the mortgage. That was 14 years ago. We now live in Adamsville, TN and own and manage a small mobile home park in a nearby town. My husband works full-time and I homeschool our 6-yr-old twins between solving tenant issues. I am ready for a smarter way to be a real estate investor and hoping y'all can help... I am one tired mama!

First of all, I love your idea. My suggestion would be to contact several mobile home dealers in the area to determine what demand there might be from people looking to buy a mobile home, who either don't like the choice of parks in the area, or don't have their own land. I know that Clayton Homes has started building their own parks and filling them with cost effective base models which they then rent or sell to the residents. If they are doing it, then it must make money. Conversely, if they are the competition, then how are you going to make money?