http://www.mobilehomeuniversity.com/forum/index.phpThu, 17 May 2012 20:30:31 -0500 Phorum 5.2.18 http://www.mobilehomeuniversity.com/forum/read.php?1,9838,9838#msg-9838 http://www.mobilehomeuniversity.com/forum/read.php?1,9838,9838#msg-9838
15 Spaces near Fremont NE

33 spaces plus apartments near Davenport, IA.

if you would like more information on either of them please email me.

Perry
perry@mhps.com]]> Perry Mobile Home UniversityThu, 10 May 2012 15:04:41 -0500 http://www.mobilehomeuniversity.com/forum/read.php?1,9833,9833#msg-9833 http://www.mobilehomeuniversity.com/forum/read.php?1,9833,9833#msg-9833
My manager has heard from a teacher/friend at the local public school that one of the families in our community have two children that are sex offenders. They've been molesting a younger brother. None of this shows up on [www.familywatchdog.us] because the kids are 15 and 19 (the 19 y.o. apparently commited his crime 3 years ago when he too was a minor).

We do not allow sex offenders in our community. We'd like to verify this information to be true, but probably no one will go on the record with us because juvenile records are sealed. What are our next steps?

Thank you,

-jl-]]> Jefferson Mobile Home UniversitySat, 28 Apr 2012 17:15:14 -0500 http://www.mobilehomeuniversity.com/forum/read.php?1,9831,9831#msg-9831 http://www.mobilehomeuniversity.com/forum/read.php?1,9831,9831#msg-9831
We are doing due diligence on a MHP located partially in a flood plain. Does anyone have any experience with such properties? What will this mean for our ability to secure financing? What does this mean for the potential to develop the property into anything else?

Many thanks,

-jl-]]> Jefferson Mobile Home UniversitySat, 28 Apr 2012 12:02:13 -0500 http://www.mobilehomeuniversity.com/forum/read.php?1,9828,9828#msg-9828 http://www.mobilehomeuniversity.com/forum/read.php?1,9828,9828#msg-9828
We have a few handicapped folks in our community. So far we've accommodated them by building ramps up to their front doors for free. Our experience seems to indicate that such accommodation reduces turnover by about 2/3rds.

Q's:
* Should we be doing more? (Lowering kitchen counter tops, widening doorways, etc.)
* Should we be doing less? (Will handicapped folks install this stuff themselves? Do handicapped folks just not move around as often as fully-abled folks, and maybe we are not reducing turnover at all ...?)
* If such accommodation does reduce turnover, does the impact vary by type of park (e.g. what is the turnover rate of accommodated handicapped folks in an all-ages community vs. in a seniors park?

Thank you,

-jl-]]> Jefferson Mobile Home UniversityFri, 27 Apr 2012 10:48:51 -0500 http://www.mobilehomeuniversity.com/forum/read.php?1,9825,9825#msg-9825 http://www.mobilehomeuniversity.com/forum/read.php?1,9825,9825#msg-9825We just acquired a park that is serviced by Cox and are getting ready to make the call. Was just wondering if there is any specific language to refer to or specific person to speak with.

Thanks for the advice!]]> tiomka Mobile Home UniversityFri, 20 Apr 2012 10:08:11 -0500 http://www.mobilehomeuniversity.com/forum/read.php?1,9819,9819#msg-9819 http://www.mobilehomeuniversity.com/forum/read.php?1,9819,9819#msg-9819
Do any owners out there have any idea what their sales conversion ratio is? With 30 calls/month, what is a reasonable number of sales to expect?]]> Kento Mobile Home UniversityFri, 27 Apr 2012 02:11:55 -0500 http://www.mobilehomeuniversity.com/forum/read.php?1,9818,9818#msg-9818 http://www.mobilehomeuniversity.com/forum/read.php?1,9818,9818#msg-9818
Several years ago I started the 'Mobile Home Park Investors' group on LinkedIn. We now have nearly 700 members, including Frank and Dave. I would welcome your participation too.

You'll need a LinkedIn account; then simply search for the group called Mobile Home Park Investors.

To your continued success,

-Jefferson-]]> Jefferson Mobile Home UniversityWed, 04 Apr 2012 17:36:21 -0500 http://www.mobilehomeuniversity.com/forum/read.php?1,9816,9816#msg-9816 http://www.mobilehomeuniversity.com/forum/read.php?1,9816,9816#msg-9816
Heidi]]> hfawn13 Mobile Home UniversitySat, 07 Apr 2012 12:06:20 -0500 http://www.mobilehomeuniversity.com/forum/read.php?1,9815,9815#msg-9815 http://www.mobilehomeuniversity.com/forum/read.php?1,9815,9815#msg-9815
Short of starting out in this sort of real estate investing by buying an entire MHP, I have been pondering starting with a strategy on a much smaller scale. Specifically:

Find a single home/land package for sale (so most likely not in an established MHP) that is having trouble selling. This could in part be due to potential buyers not being able to be financed for the whole thing. Lets say for example the seller wants $30k for the whole thing, and the home is valued at $10k, with the land $20k. My thought is to go to the seller and tell them that if they can instead find a buyer for the house for $10k, I will simultaneously buy the land for $20k. (Note: I would not be involved in the financing of the home.) And this transaction would be contingent on the buyer of the house entering into a lot rental agreement with me. So basically, in theory at least (and absent the new home owner moving the house out shortly after the sale)....the seller wins as they might be able to sell their whole property sooner, the home buyer wins as they can perhaps get in a house they otherwise wouldn't have been able to, and I win as I now own and rent dirt with a renter from day one (i.e. hard for the renter to damage it, etc.)

That said.....initial thoughts/concerns? I'm also hoping for any advice on what it takes to split an existing land/home into separate pieces (i.e. changes to the taxation, deeds, etc.) Also, to try and minimize the chances of the new home owner immediately moving their home off the lot (which might be unlikely just in general), but is it realistic to try and make the initial lot rental agreement a 12 month agreement (as opposed to monthly)??

Thanks again guys!

Brad]]> MHP821 Mobile Home UniversityWed, 21 Mar 2012 17:30:47 -0500 http://www.mobilehomeuniversity.com/forum/read.php?1,9812,9812#msg-9812 http://www.mobilehomeuniversity.com/forum/read.php?1,9812,9812#msg-9812
Do you have a bookkeeper you recommend? We need one that can *think.* By that, we mean someone who would, for instance, question a large $100,000 deposit into our bank account and not necessarily account for it as rent - someone who would notice that the deposit slip was labeled 'APIC' and instead code the deposit to the equity account on our balance sheet. Our new bookkeeper will also need to follow up with our manager every month to tie-out the deposits and make sure that everyone who has not paid has been given a 5-day notice (or evicted) as necessary.

Our needs might best be described as '85% bookkeeper, 15% revenue assurance/inquiry/thinker.'

Thank you so much,

-jl-]]> Jefferson Mobile Home UniversityFri, 20 Apr 2012 02:15:58 -0500 http://www.mobilehomeuniversity.com/forum/read.php?1,9810,9810#msg-9810 http://www.mobilehomeuniversity.com/forum/read.php?1,9810,9810#msg-9810
I just want to say it's a pleasure to be part of this great forum.

I am a young driven real estate entrepreneur who wants to eventually own a park of my own. I currently have read through three different courses (including Frank and Dave's) and listened to many CD's on the subject of mobile homes and mobile home parks. In order to get the money to eventually have my own park, I want to start by flipping some parks. I want to get a park under contract, and then sell the contract. I am good at negotiating and feel I can get good terms and a good price.

Is the "Purchase and Sales Agreement" and the "Assignment of Real Estate Contract" all I really need to do this? Do you have any suggestions for what a buyer of a MHP contract really wants in a contract? I know 60 days due dilligence is good, but should I try to shoot for 90 days so that the potential buyer of the contract has more time? Does the contrat need to say "and or assigns" by my name or is it assignable? Any hints, tips or pointers would be greatly appreciated.


Thank you,
Gabe]]> G-man422 Mobile Home UniversityMon, 19 Mar 2012 15:58:55 -0500 http://www.mobilehomeuniversity.com/forum/read.php?1,9802,9802#msg-9802 http://www.mobilehomeuniversity.com/forum/read.php?1,9802,9802#msg-9802 Bernd Hanak Mobile Home UniversityTue, 14 Feb 2012 14:28:53 -0600 http://www.mobilehomeuniversity.com/forum/read.php?1,9801,9801#msg-9801 http://www.mobilehomeuniversity.com/forum/read.php?1,9801,9801#msg-9801brandon@mhps.com. We have features like like classified ads, partnership requests and groups. This will be replacing our connections page. You don't even have to enter your information because you can connect with your current facebook profile.]]> brandonmhp Mobile Home UniversityFri, 17 Feb 2012 09:55:00 -0600 http://www.mobilehomeuniversity.com/forum/read.php?1,9800,9800#msg-9800 http://www.mobilehomeuniversity.com/forum/read.php?1,9800,9800#msg-9800
I have two types of homes in my community, and I'd like your input on what I can do to make more money from them.

'New' Homes: I have a couple of dozen mobile homes I've purchased and brought in. They are 1995 - 2001 3BR/2BA single-wides that I RTO for $1,000 down payment, and $550/month, or I regular rent them for $650 security deposit, and $650/month. I believe I'm at fair market pricing - these homes tend to get occupied either way in 4 - 6 weeks when they come available. RTOers, so far, have mostly stayed and paid (we 4 years into this now and have only had 2 of 15 RTO residents default). Renters turn over about every year. Either RTOing or regular renting, our typical customer for this home is a couple in their late 20s through mid-40's with two kids. About half are RTOed, half are rented. The trend is going in the right direction as renters turn over and are replaced by more stable RTOers. We are moving toward an all-RTO community in another 3 years or so. We do have 1 Section 8 lady at $575/month. We advertise on GoSection8.com and get a few calls, but in 4 years, only this one Section 8 tenant. She pays on time, the government pays on time, she's low-drama, and we'd like to have more Section 8 residents.

'Old' Homes: There are three dozen 2BR/1BA homes from the 1960s and 1970s that came with our park. These are mostly occupied by seniors. These residents are dying at the rate of 2 or 3 a year, and I get calls from relatives of the deceased saying they want me to purchase their home. I've purchased these homes for between $0 and $2,000. So far, we have been unable to successfully market these homes to other seniors; we advertise in the local paper and on CraigsList. (Our marketing person is about to send out mailers to churches and bingo halls.) Unable to find seniors, we sell these homes on a 1 - 2 year note for $2,000 - $4,000 to mostly really hard-up folks in their 20s - 40s (they then continue paying $200/month lot rent). A few homes have been purchased by small-time Lonnie Dealers. But the prospective residents the Lonnie Dealers produce for us are exactly the same really hard-up folks in their 20s - 40s we find on our own. There just don't seem to be any seniors looking to live like this any more. The hard-up folks tend to stay around for a few years, and then vaporize - so far without doing too much damage to the already-beaten-up homes.

One final point: our property is in Oklahoma. Homes do really move around here quite a lot. We've had homes snatched out of our community (both 'old' and 'new') in a matter of a week if we don't hop on them and buy them. Mobile homes in this state are truly 'mobile.'

So my questions are:
* How does my pricing and turnover compare to yours?
* We have 4 remaining vacant lots. Would you fill these with 'Old' or 'New' trailers.
* Do you regular rent homes at all? Or just RTO? Is our $100/month spread between RTO and regular renting enough?
* Any other thoughts? What would you do differently?

Thank you,

-jl-]]> Jefferson Mobile Home UniversitySun, 19 Feb 2012 22:30:08 -0600 http://www.mobilehomeuniversity.com/forum/read.php?1,9799,9799#msg-9799 http://www.mobilehomeuniversity.com/forum/read.php?1,9799,9799#msg-9799 brandonmhp Mobile Home UniversityThu, 26 Jan 2012 17:19:30 -0600 http://www.mobilehomeuniversity.com/forum/read.php?1,9797,9797#msg-9797 http://www.mobilehomeuniversity.com/forum/read.php?1,9797,9797#msg-9797Thanks]]> scoll2 Mobile Home UniversityTue, 13 Mar 2012 17:52:11 -0500 http://www.mobilehomeuniversity.com/forum/read.php?1,9796,9796#msg-9796 http://www.mobilehomeuniversity.com/forum/read.php?1,9796,9796#msg-9796 Dremel Mobile Home UniversitySat, 14 Jan 2012 10:46:35 -0600 http://www.mobilehomeuniversity.com/forum/read.php?1,9793,9793#msg-9793 http://www.mobilehomeuniversity.com/forum/read.php?1,9793,9793#msg-9793We currently use a spreadsheet for billing and a ledger card system with hand written receipts that are copied onto the ledger card for receipts- not effective at all. I am keeping the spreadsheet and looking for something I can print out from my PC and use special type of paper/stamp to make sure the receipts can't be copied by tenants.

Currently when I add up the deposits I input them on a spreadsheet and total them up. So most of the work is completed.


I am thinking something along these lines:

TRAILER 1 $350,00 RECEIVED 1/3/2012 Receipt # 10025 (sequential #) ----Some special stamp here with park name and phone

Any feedback or ideas?]]> Kali Mobile Home UniversityThu, 05 Jan 2012 18:35:09 -0600 http://www.mobilehomeuniversity.com/forum/read.php?1,9792,9792#msg-9792 http://www.mobilehomeuniversity.com/forum/read.php?1,9792,9792#msg-9792
Any other thoughts or suggestions?

Sam]]> scoll2 Mobile Home UniversityFri, 06 Jan 2012 16:09:28 -0600 http://www.mobilehomeuniversity.com/forum/read.php?1,9789,9789#msg-9789 http://www.mobilehomeuniversity.com/forum/read.php?1,9789,9789#msg-9789Thanks, Sam]]> scoll2 Mobile Home UniversityFri, 16 Dec 2011 16:54:58 -0600 http://www.mobilehomeuniversity.com/forum/read.php?1,9785,9785#msg-9785 http://www.mobilehomeuniversity.com/forum/read.php?1,9785,9785#msg-9785
I have an onsite office and have always preferred someone to live in the park to run the property for obvious reasons. There is no set office hours, the only requirement is just do the basic duties of collecting rents, maintaining the property and renting out spaces. I have gone through countless managers for many reasons, some just dont do the basic duties or get sloppy after a few months. I would like to find someone who stay at this job for the long term.

What is a good pay for a part time manager?
Should I try to find someone offsite?

Any suggestions would be appreciated.]]> Kali Mobile Home UniversitySat, 03 Dec 2011 09:18:02 -0600 http://www.mobilehomeuniversity.com/forum/read.php?1,9784,9784#msg-9784 http://www.mobilehomeuniversity.com/forum/read.php?1,9784,9784#msg-9784

Thanks first to Steve and Corey who founded the site then Frank and Dave for continuing it.]]> howardhuang33 Mobile Home UniversityThu, 24 Nov 2011 09:05:20 -0600 http://www.mobilehomeuniversity.com/forum/read.php?1,9783,9783#msg-9783 http://www.mobilehomeuniversity.com/forum/read.php?1,9783,9783#msg-9783
Now if we cold only get those 8% cap parks in Florida to sell at 10% caps it would make it a whole lot more interesting to buy here!]]> Dave Reynolds Mobile Home UniversityWed, 16 Nov 2011 23:42:55 -0600 http://www.mobilehomeuniversity.com/forum/read.php?1,9780,9780#msg-9780 http://www.mobilehomeuniversity.com/forum/read.php?1,9780,9780#msg-9780owns 7 mobile home parks and wants to buy up to 25 by end of
next year.

Can you send me any and all motivated sellers
of mobile home parks in az, ar, tx, nm.,nv, ca and ok please?


thanks

--
David Gonzalez
602-435-7246
davidginphoenix88@gmail.com]]> davidginphoenix88 Mobile Home UniversityWed, 16 Nov 2011 23:37:15 -0600 http://www.mobilehomeuniversity.com/forum/read.php?1,9756,9756#msg-9756 http://www.mobilehomeuniversity.com/forum/read.php?1,9756,9756#msg-9756
I have been using Quickbooks 2011 computer software on the desktop. My accountant prefers me to stick with it and I like using it so I do not intend to change from QB. Currently my accountant does the monthly bookkeeping but I have to run over receipts in person and then end up taking over an hour writing out checks by hand.

I have been looking at Quickbooks Online where my accountant can still do the bookkeeping but the owners would all have access by the web to check on the books and I could enter the checks directly into quickbooks and then print them on a printer and hand sign them.

Does anyone have any Quickbooks Online experience? Or does anyone have any recommendations?

Thanks,

Nick]]> NickinHoustonMHP Mobile Home UniversityWed, 16 Nov 2011 23:38:48 -0600 http://www.mobilehomeuniversity.com/forum/read.php?1,9755,9755#msg-9755 http://www.mobilehomeuniversity.com/forum/read.php?1,9755,9755#msg-9755
I am looking for good recomendations on property management software. I have been looking at Click2PropertyManager (Formally DIY) that was recommended from a friend who owns several apartments. I like the idea that it is web based so all the owners can view it as well as the property manager can enter the information.

Does anyone use this software or have a recommendation?

Nick]]> NickinHoustonMHP Mobile Home UniversityMon, 27 Feb 2012 02:04:58 -0600 http://www.mobilehomeuniversity.com/forum/read.php?1,9752,9752#msg-9752 http://www.mobilehomeuniversity.com/forum/read.php?1,9752,9752#msg-9752 brey Mobile Home UniversityThu, 03 Nov 2011 21:05:02 -0500 http://www.mobilehomeuniversity.com/forum/read.php?1,9750,9750#msg-9750 http://www.mobilehomeuniversity.com/forum/read.php?1,9750,9750#msg-9750
Brought my LL dad Jerry with, and we both had a good day - thanks to shawn for sharing most of his day, and thanks to Mike and Butch for taking the time to explain in very few words how smart they are (well, Mike) about the tax foreclosure process in their area.

I got my eyes on examples of MH metal roofovers that shawn has done, and picked up several other tips. Its funny how valuable it can be seeing the little things that other people do.]]> Steve-WA Mobile Home UniversityTue, 25 Oct 2011 06:54:28 -0500 http://www.mobilehomeuniversity.com/forum/read.php?1,9743,9743#msg-9743 http://www.mobilehomeuniversity.com/forum/read.php?1,9743,9743#msg-9743
]]> Bernd Hanak Mobile Home UniversitySun, 09 Oct 2011 12:44:14 -0500 http://www.mobilehomeuniversity.com/forum/read.php?1,9741,9741#msg-9741 http://www.mobilehomeuniversity.com/forum/read.php?1,9741,9741#msg-9741Is anyone hedging his bets to offset potential losses, such as his outstanding obligations, mortgages? If so, what strategies do you use now? Purchasing precious metals or oil, or short-selling government bonds while expecting the former to appreciate and the latter to deflate as interest rates increase? Diluting the risk through trustworthy partnerships? Hoping for the best is common, but usually a little hedging makes for a better night’s sleep in uncertain times. I have not been able to find any discussion on this topic.

]]> Bernd Hanak Mobile Home UniversityTue, 18 Oct 2011 01:20:39 -0500