All Forum Posts by: Rachel H.

@Wai-Lin William Maw You may want to talk to some experienced park managers and owners in the area who have done the same thing. Also, talking to local mobile home dealerships may give you some insight into the process and more information. 

As a mobile home investor myself, I find that talking to people who work in the business has helped me many times in the past when it comes to due diligence, market research and referrals. 

Hope that helps! 

@Dominic Richardson You probably need more information about the park in terms of any deferred maintenance and current upkeep yearly amount. 

Also, the age of the mobile homes can limit your cash flow in the future. Just something to think about. 

Hope that helps! 

@Dexter Taylor You may want to connect with local real estate agents in the area who have similar properties for sale close to yours. You can find them just by driving the area to see their listings and signs they have for properties for sale. 

Another option is to check with your local real estate investment club. See if there are any investor-friendly agents anyone recommends you working with familiar with the area and property type. 

Hope that helps! 

@Nathan Lacey You may want to network locally and check with your local real estate investment club. Talk to the leaders in charge to see who you need to talk with who is actively buying land. 

You should get a few referrals. Hope that helps! 

@Carl Busch If you're planning to wholesale, it's best to focus on a specific niche and learn the values inside and out. 

Personally, I started as a bird dog and then wholesaler in the single-family home business. From there, I became a buy and hold landlord of single-family homes. Then, I decided to cash out on my entire real estate portfolio and get into mobile home investing. 

Now, I've been a buy and hold investor of mobile homes but have also added a wholesaling component to my business. I wholesale mobile homes and have stayed in the niche overall. 

If you can find a niche to learn and get good at it, you'll be successful in the long run. 

Hope that helps! 

@Aiden Boufakir You may want to circulate these deals around your local real estate investment club. Ask if there are any mobile home investors there willing to purchase these homes. 

Another route is to talk to local mobile home park owners. They may be interested or know someone interested in the deal. 

Lastly, you can also talk to mobile home dealerships. Many times, they work with mobile home investors on a regular basis. 

Hope that helps! 

@Chad Lundquist It's best to pursue something both you and your wife are comfortable purchasing. If you're not sure about buying a mobile home in a 55+ community, it's best to find out more information about them in your local area. 

You may want to visit a few of these communities to see what's involved when purchasing them. Once you start talking to more people in the niche, you'll get a better idea of the process and whether or not you want to pursue buying in this niche. 

Honestly, I would not buy on price alone. It's best to be comfortable in whatever niche you decide to pursue as a real estate investor.

Personally, I've been in the mobile home investing space since 2007. Like any business, it has had its ups and downs. Though overall, it's been profitable. But, it's not for everyone. 

Feel free to DM if you have any questions. Hope that helps! 

@Wesley Oaks If funds are limited, you might consider taking on a partner. I've seen this done over and over again in the mobile home park investing space. 

Usually, one party has more funds and the other party has the experience and time to be more hands on with the business. 

Hope that helps! 

@Gary Kurtz There are a lot of books out there you can check out on the subject of mobile home investing. I'd recommend reading the ones that specialize in the area you want to focus on (i.e. buy and hold, mobile home park investing, buy and resell, etc). 

If you plan to do deals in existing mobile home parks, it's best to focus on learning how to establish relationships and build rapport with park managers and/or owners. This is a learned skill and takes time. Though, it will pay off in the end. 

Unfortunately, a lot of investors first starting out (myself included) tend to focus on finding motivated sellers in these types of communities and then try to talk to the park manager and/or owner to make sure they can do business there. Though, it should be the other way around.

If you learn to first approach the park manager and/or owner to build a relationship and rapport with them, you'll be well ahead of the game when it comes to competition and doing business in mobile home parks. 

Hope that helps! 

@Star Reid You could always look into bringing in a private lender or a partner into the deal. 

One thing I'd caution, the unit has been converted and it may cause issues in the future. Usually, when I buy mobile homes it's usually the same configuration and not much has changed with the homes from the sellers I've bought from. 

Though the units are collecting income now, there may be issues in the future that come up. Then, you may have issues selling the home down the road (if need be) since the configuration has been changed. Just some things to think about. 

Hope that helps!