mobile home investing

In most mobile home parks, collecting money is the number one priority. But some people consider that unpleasant – even though it really isn’t. In this episode of Mobile Home Park Mastery, we’re going to start a six-part series called “Dirty Jobs” in which we examine in detail the things that owners do that scare most people. If you want to know the insider secrets of how collections work in a mobile home park, this podcast is for you.

Nothing can make a mobile home park deal look more or less attractive than the numbers. Indeed, the economics have a Jekyll & Hyde ability to make any mobile home park investment change from a winner to a loser and back again at a lightning speed. In the third of a three-part series, we’re going to discuss how the slightest alteration of number assumptions can have a huge impact on a deal’s attractiveness. See how you have to be extremely focused on the numbers to know when a deal has passed from good to bad, or vice versa. These are economic patterns that need to be learned by any good park buyer.

Every mobile home park must have water, sewer, electricity – and sometimes – gas. But the way these utilities are provided can have a huge impact on whether you would want to buy that deal or not. In this week’s Mobile Home Park Mastery Podcast we’re going to examine the ability of utilities to give any deal a Jekyll & Hyde demeanor, with the ability to turn that attractive investment possibility into a potential nightmare. If you want to know what some of the key deal killers are for mobile home parks, then this podcast will clearly identify them.

We all know the story of Dr. Jekyll & Mr. Hyde, where a drug could cause a gentleman to morph into a monster and back again. Mobile home park variables can cause a similar effect. In this first of a three-part series on the Impact of Slight Changes in Deal Variables, we’re going to discuss the impact of park-owned homes on mobile home park desirability, and identify which attributes make a deal attractive instead of a disaster. You’ll be amazed at how just the slightest tweak can turn a deal from attractive to devastating and back again.

Noblesse oblige is a French term that translates to “those who have substantial resources have a responsibility to help those that have less”. So how can mobile home park owners put this very moral theory into practice? In this third and final installment in our three-part series titled “Mobile Home Park Morality” we’re going to discuss taking the right path to helping to protect and support residents. The mobile home park industry is a win/win business, in which it is truly possible for everyone to succeed.

There’s a huge amount of waste that goes on in some mobile home parks. The moral thing for park owners to do is to end this destruction of precious resources. In this second of our three-part series titled “Mobile Home Park Morality” we’re going to review the various types of waste that go on in many mobile home parks and what the moral owner can do to end these practices. Remember that waste can be both in the physical form – such as water – as well as in missed opportunities. We’re going to cover them all.

Sometimes residents don’t appreciate what the landlord is doing for them. There’s a thing called “tough love” and it happens in mobile home parks every day. In this first part of a three-part series on Mobile Home Park Morality, we’re going to discuss the many things that park owners do that benefit the resident – and that nobody appreciates. Park owners are constantly helping their customers to live successful lives, yet those initiatives are frequently misunderstood.

We’ve saved the most important for the last. In our final episode of our five-part series on “The Top Five Tools of Mobile Home Park Owners” we’re going to discuss the power of the human mind to make you a successful investor and operator in this asset class. If you think that Sudoku is the only way to keep your brain active and sharp, then try mobile home parks – it can be much more challenging and a whole lot more rewarding.

Which software should you use to manage your mobile home park. Or do you need software at all? We’re going to discuss this topic in the fourth installment of our five-part series on “The Top Five Tools of Mobile Home Park Owners”. We’ll identify the different software options and review their costs, benefits and weaknesses. It’s probably time to trade in your abacus for the new power of good software.

The book “4-Hour Work Week” introduced America to the concept of “virtual assistants” – people who will do tasks for you from afar using the internet and at a cost far lower than full-time employees. In this third installment of our five-part series on “The Top Five Tools of Mobile Home Park Owners” we’re going to discuss the websites and resources that allow you to take full advantage of farming out many of your tasks for extremely low prices, and with protection from the complicated and litigious labor laws that plague employers today.

How do you make sure that your manager is doing a good job when you’re not around? With today’s high-tech world, there are some great options. In this second part of our five-part series on the “Top Five Tools of Mobile Home Park Owners”, we’re going to discuss the key tools to keeping your park and manager under constant surveillance to make sure that the business is running properly in the field. You’ll be amazed at how well you can stay on top of a property from hundreds and thousands of miles away – and at very low cost.

You can’t really get the tough jobs done without the right tools. In this first part of a five-part series, we’re going to investigate what the top five tools of mobile home park owners are. What they do and where they get them. And we’re starting out the series with the GQ edition – all about what you wear, what you drive, your company name and website. In a nutshell, your image. We all form that important first impression everywhere we go, and smart park owners know exactly how they want to appear to the outside world; from park residents to bankers.

What’s the easiest mobile home park turn-around strategy? Not turning one around at all. In this final installment in our five-part series on “Easy Turn-Arounds” we’re going to examine we’re going to talk about the simple model of “flipping” mobile home parks – essentially buying them at a low price and re-selling them immediately thereafter or tying them up under contract and selling an assignment of the contract. Learn the theory and reality of profiting from mobile home parks without even picking up a piece of litter.

Can you buy a dollar for 50 cents? In some mobile home parks the answer is “yes”. Poor pricing practices by mom & pop owners are legendary. In this fourth episode in our five-part series on Easy Turn-Arounds, we’re going to give real-life examples of parks that were priced way too low, as well as how to find them and negotiate them. We’re also going to review another component to these deals, and that’s often insanely great seller financing terms. So if you want to hear how to avoid heavy lifting altogether, then tune into this week’s installment.

Water is a precious commodity in America today – it’s literally liquid gold. And water and sewer expense is the #1 largest line item in most mobile home park profit & loss statements. The great part is that it’s a turn-around plan that is 100% within your control and has no reliance on residents or market forces. But how do you do it? In this installment of our five-part series on “Easy Turn-Arounds” we’re going to analyze the methodology from A to Z on saving huge amounts on water & sewer costs and fostering conservation along the way.

Firing people is never fun – but it can certainly be profitable! In this second of a five-“part series on Easy Mobile Home Park Turnarounds”, we’re going to examine the role of cost-cutting in turning around mobile home parks, with a specific focus on personnel and utility issues. You’re also going to hear the story of a park we own in Illinois that went from losing around $40,000 per year to a positive $270,000 in one year, mostly as a result of cost cutting. Benjamin Franklin once said “a penny saved is a penny earned” and must have been talking about trailer parks.

We’ve talked about tough turn-arounds, so now it’s time to turn our attention to a different type of mobile home park experience: the simple ones. Just as there are factors that make a mobile home park tough to convert into an economic engine that produces predictable, sustainable cash flows, there are basically five different turn-around methods that require minimum effort to create significant profit. In this first of a five-part series, we’re going to discuss a simple method to enhance the cash-flow and value of a mobile home park. Why it works and how to do it effectively. With just this one podcast, you’ll see why we got hooked on mobile home park investing, and it will forever change your thoughts on “trailer parks” as an economic engine.

In this final installment of our series on Tough Turnarounds we’re going to examine the story of a mobile home park that required not only a complete renovation of all common areas, but also the renovation and sale of over 200 park-owned homes. It’s tough enough bringing a mobile home park back to life, let alone all of the homes inside of it. But we learned some important lessons from this unusually difficult project and successfully finished within 36 months. Hear how we did it in this week’s Mobile Home Park Mastery Podcast.

In this fourth installment of our five-part series on Tough Turnarounds, we’re going to examine a property in Illinois that looked like Berlin after the war – just a giant pile of rubble with a mobile home park underneath. But beneath that rough Hollywood set of destruction was a fairly nice asset that had, at one time, been a luxury community. Learn how we bought this mobile home park back to life despite drug dealers, trash, dead trees, burned homes, and a general lack of pride that was determined to drag it down.

In this third installment in our five-part series on “Tough Turnarounds”, we’re going to discuss Hidden Hollow – a mobile home park that didn’t even have a rent roll or a financial statement. This turnaround came with the added twist of Frank being chased down the street by a 300 pound man in a diaper. Learn the techniques that can allow you to take a piece of land with some old, rusted flat-roof trailers and no law and order (or dress code apparently) and make it into a tame, income-producing asset.