Mobile Home Parks...

[StacyKellams]

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[Eric C]

Hi -

Did you ever contact with anyone experienced in MHP ownership?

Currently, I'm looking to purchase one or more MHP's in Texas although I'm leaning more and more to developing them from scratch.

I do have past experience with MH paper and a slew of other investments and businesses (RE and other).

Anyone else looking to acquire one of these? Ideas? Strategies? Exits?

Thanks,

Eric C

PS - I guess I can always waylay Doug Ottersberg over in NM (just kidding Doug!)

[StacyKellams]

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[agkatz]

Believe it or not, my cleaning lady out in California owned a mobile home park, here in Texas.  I'll ask my parents (who used the same lady until she retired) where in Texas it was.

Our impression ( and from what I can remember ) was that she did pretty well with it.  I don't know how she managed it... if she used a company or just had an on-site guy.

If I ever buy one, I'll be too tempted to stylize it with every white trash stereo-type in the book.  You know, decorate the park with porcelain toilets that double as planters.  Have a front gate with a steer's head/skeleton on the front.  Pink flamingos.  Astro-turf.  Free velvet Elvis posters if your rent is paid early.  You get the idea.  ;)

(No offense to anyone who may live in a trailer.  I did, for four hot months, in St. Louis, MO.)

[cmurphy]

Stacy,
Mitch Stevens will speaking this Thursday(5/1) at the Alamo Investor's Association meeting.  He will be speaking about buying and selling mobile homes.  He's a local investor that has literally bought and sold hundreds of houses.  He doesn't speak professionally, so it should be full of information, and not just a glorified sales pitch.  The meeting is at 6pm, May 1st, at the San Antonio Airport Hilton.  

In case your interested, driving from Austin, take I35 south to the 410 west exit.  Take 410 west until the San Pedro exit.  The hotel is just on the right after you exit.  

Hope things are going well,

Chris

[StacyKellams]

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[agkatz]

Audio tape it, if you have the means to.  I'd like to hear it, too.

Thanks,
Adam.

[cmurphy]

I have to be in San Antonio the entire day.  I'll be signing a sub2 contract, and looking at another potential sub2.  I'll see you at the meeting.

Chris

[Eric C]

Hi -

That's too bad. I was looking forward to hearing more about this discussion too.

Can you enlighten me a bit about Mitch? He sounds like someone I need to visit.

Thanks,

Eric C

PS - for anyone else who has an interest in this thread (or this investment area), I'd like to hear from you as well.

My take on the MHP is a bit different than most and I have a different goal in mind.

Plans are to begin a couple month journey around the country to visit some folks (and their operations) -- and when I say around the country, that's exactly what I mean. Trip will include Oregon, Nevada, AZ and New Mexico, Oklahoma, Missouri, Alabama, Florida, North Carolina and Virginia.

Should be fun.

[aptbroker1]

Hi Stacy,

I own 4 MHP's, 3 in Texas and 1 in Oregon.  Great investments!  

[X-owner]

Hi, I just found this site . I am interested in mobile home as an investment . I have no experiance at it!  I had a 12 unit apartment building  with a partner but later had to sell,, seemed that we had different ideas about investing. I wanted to leverage and purchase more. They did not ,so you know, had to sell.  I found out that I could not replace the property that I sold with one that cash flowed. Market was very HOTT and opted to not buy at time , needless to say property has gone up like crazy in the Chicago area. I am finding that a high down will not make any cash- flow, also rents now seem to be dropping as to many investors had been trying to cover their high mortgage. , Sorry for rambling.

Does any one know if mobile home would be a good alternative and does it require a different type of knowledge or same as a building. I am definitally a hands on investor with a high degree of remodel experiance , but not sure how this would all relate to mobile homes?? Thanks in advance for any info.