All Forum Posts by: Ryan Sajdera

Has anyone ever started their own mobile home park before? We are interested in the idea, but the biggest challenge seems to be getting trailers onto the park fast. Has anyone had any experience with developing their own park? 

Folowing

Just look at the return that you would make and let that drive your investing decision. We just put a 4 unit park under contract yesterday, but it is in GREAT condition and the rents are about 100 below market value per trailer. That gives us a lot of room to increase NOI and increase the value of the park in the long run. The size of the park is just a scale matter. Most people don't invest in a park unless its 10 units or greater, but there is money to be made in small parks, especially if they are out in the country a little ways. A lot of people don't want a huge park to live in. They want a sense of community but also a yard in the country. Like i said, if the numbers work then it may be a good thing. If not, i'd keep driving. In my experience i've seen higher returns with some of the small properties because they are owned by mom and pop and have a lot of room for new systems and processes.

Thanks Brian! I will see if I can reach out to them! I appreciate your feedback!

Does anyone have any good recommendations for insurance companies that will insure both the mobile home park and the mobile homes themselves? I have an independent agent working on a quote but he is taking WAY too long to do this. Thanks!

Hey BP! I had a few questions regarding general partnerships in a deal. We are looking to structure a deal on a mulitifamily property but i was wondering how many general parters you typically have in a deal at one time? Is there a benefit to having more or less general partners in a deal? Thanks!

@Lamart Glenn Jr

Thanks Lamart, I didnt know if there were books about the different advantages of using different types of partnerships but I will cruise through the podcasts. They just recently had one about syndication but I still have so many questions!

Hey everyone!

We are looking to put together a deal in the future with some other investors. I was wondering if anyone had any really good book recommendations that would cover the ins and outs of structuring partnerships? Thanks! 

Ryan

Have you considered doing any green to gold or OCS program to become an officer? That could help your W2 income out and maybe make you look a little more appealing to the banks. 

I would find a cheaper home and house hack. You could also consider buying a SFR and renting out the bedrooms to some of your peers! That's a good way to live for free and then you can sell your SFR (hopefully) for a profit when you PCS if you don't want to hang onto it! It could really throw you ahead. I'm not sure if you are married or not, but its definitely a talk you will want to have with Household 06!

@Justin Tahilramani

Where did you get your FEMA trailers from? I'm looking to get 2 or three more!