Mobile Home Park Investing Articles

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The Truth About Mobile Home Park Earnest Money

Earnest money is the financial tool that begins the process of buying a mobile home parks; an addition to the purchase contract. You cannot avoid it, so you need to learn all about it. And here’s what we’ve learned in over 200 mobile home park purchased completed in the past 20 years.

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How To Finance A Mobile Home Park Acquisition

Mobile home parks have some uniquely attractive attributes, but one of the most appealing is the many different financing options available to buy a mobile home park. You will find more creative financing options in mobile home park investing than in all the other sectors of real estate combined. And this allows new investors to enter the business with lower risk and less hassle, as well as seasoned investors to take advantage of some extremely attractive structures.

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Why Do We Teach Others How To Buy Mobile Home Parks?

We have literally taught hundreds of individuals the correct way to identify, evaluate, negotiate, perform due diligence on, finance, turn-around and operate mobile home parks. Some people think we’re nuts for doing this, but the truth is that we are far from crazy.

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Play It Safe Regarding The Safe Act

In 2008, on the heels of the disastrous residential mortgage collapse in the U.S., the Obama administration introduced The SAFE Act, which was designed to strike back at “evil” mortgage companies. This was followed by, in 2010, the Dodd-Frank rules, that put even further teeth into control of the mortgage industry. These two financial laws immediately threw into jeopardy the simple creation of mortgages that all property owners had been using for a hundred years or more. And now every mobile home park owner is faced with the question of what to do in light of these changes.

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Creative Mobile Home Park Financing

One of the best aspects of mobile home park investing is the availability of creative financing. While traditional bank financing is available for this real estate niche, there are other options that allow first-time buyers to enter the industry without the traditional 20% down payment, perfect credit, or a lengthy resume of properties owned.

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Why Warren’s Buffet’s Annual Report Came As No Surprise To Mobile Home U

Warren Buffet recently released his annual letter to Berkshire Hathaway, Inc. shareholders. What was unique this year was that he based his letter on income properties, not his corporate investments. And Mobile Home U has been teaching these same theories for almost a decade.

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The Best Sales Pitch I've Ever Heard

I was out looking at used cars one day in the early 1980's. As I walked around the auto lot, looking through the window of a convertible, a salesman came up to me and said “what do I have to do to sell you that car today?” That’s a great attitude. It means that the salesman is going to help me make my wish come true if I will only honestly tell him my circumstances and what I need to get in order to close the deal. Mobile homes are not cars, but that same sales pitch can be used for park-owned homes that the Manager is frequently called on to sell.

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How Mobile Home U Tries To Reprogram Your Faulty Landlord Theories

We are all born with basic skills, but then we rely on our parents and educational institutions to teach us what to do with those skills. And one skill that never seems to be accurately taught in high school, college or by mom and dad is how to be a good landlord. And this causes many real estate investors to either outright fail, or to miss the full potential of their property.

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The Truth About Mobile Home Park Due Diligence

Mobile home parks all pretty much look alike. So why do some make so much money while others not only lose money but also add on a stack of perpetual management problems? The answer is that there are fundamental differences between successful and unsuccessful mobile home parks, and you can only figure out which type of park you are looking at - a winner or a loser - through a complete property inspection, which is typically called "due diligence". Without using due diligence, you are not really investing in a mobile home park as much as you are gambling with your money.

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Why Superbowl XlVIII Was Like The Mobile Home Park Industry

Superbowl XLVIII is over, and it's time for reflection on exactly what happened. Whether you were a Bronco or Seahawk fan, there were some important lessons demonstrated in this year's contest. And they are all apply to the mobile home park industry every day.

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Why You Should Consider The Mobile Home Park Business

There are at least a thousand ways you can invest your money. So why should you put it in mobile home parks? Well, there's a variety of reasons that even the top investors in the U.S. - from Warren Buffet to The Carlyle Group (the biggest private equity group in the U.S.) -- are choosing this industry. And the reasons they are excited about affordable housing are only increasing.

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What To Watch Out For In Mobile Home Park Consulting

Consulting experts is often a great way to save on the learning curve, and to get off on the right foot. However, not all mobile home park consultants are created equal and, in some cases, they can actually hurt you more than help you. Here are the correct questions you need answered before selecting a consultant for a mobile home park deal.

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The Secrets Of Successful Mobile Home Park Training

Mobile home parks are one topic that most Americans are never taught in high school or college - or even heard of unless they seek the subject out. Since they are starting from scratch, it is imperative that most investors be properly trained in the niche before they risk their investment dollars. Like anything else, there is a skill set to being a successful mobile home park investor, and these are skills that you must be taught. So how do you best proceed in obtaining mobile home park investing instruction?

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Why You Should Never Build A Mobile Home Park

People ask us all the time why, since we're one of the largest mobile home park owners in the U.S. and are extremely bullish on the industry, we don't build new ones. They'll call us with raw land that they want to sell us to build a new park on. The truth is that we would never build a new park from scratch. We don't recommend that anyone does. But now let us explain why that is not hypocritical.

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How Mobile Insurance's Email System Got Hacked

Recently, one of our employees received an email from a valued client. The email said that important information was attached and to open the attached weblink to retrieve it. The employee opened the weblink and found a Google sign in page. The employee was asked to sign into their Google account to get the promised information. The employee did. Next, a message stated that there was a problem and the link couldn’t be opened at this time.

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Paying Your Mobile Home Park Employees

Properly classifying workers as independent contractors or employees is important. For workers classified as employees, whether they are labeled salary or hourly is equally important. In a prior column, independent contractors and employees were defined. This column focuses on whether an employee should be compensated with a salary or an hourly wage.

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The Truth About My Notorious Waffle House Quote

Several media outlets have recently used my old quote that the mobile home park “is like a Waffle House where the customers are chained to their booths”. However, they have taken the quote completely out of context, and the truth takes the air out of their sensationalism, unfortunately for them. So I would like to set the record straight before anyone else uses it inappropriately.

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Why The Article “The Truth About Trailer Parks: Poor Forced To Live Among Sex Offenders And Felons As Owners Cash In” Has Nothing To Do With Truth But A Lot To Do With Sensationalism

We all know that media groups have to peddle stories, but not since the prime of Jerry Springer have article titles been so lacking in credentials. Although the writer was unable to insert space aliens into the title, or a sighting of Big Foot, it still contains plenty of fantasy. So let’s break it down into easy, truthful pieces.

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Is The Guardian Jealous Of The Mobile Home Park Business Model?

The Guardian recently requested free passes to attend our Mobile Home Park Boot Camp, which we happily gave them. We get requests from media outlets all the time, which are gathering information for a story. The Guardian said that they were doing a piece on alternative investments, but we knew better. Still, we like to give any legitimate group the truth about the mobile home park business, so that they can at least get their facts straight about the affordable housing industry. However, this reporter apparently was not paying attention in class, or was trying to make a name for himself. Regardless, there are a few points that need to be made to bring the article into perspective.

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Why Mobile Home Parks Have Such An Unfair Advantage In Commercial Real Estate

America takes pride in the concept of freedom of competition. That's the reason that the Federal Government blocks potential mergers through anti-trust complaints. And the reason that we have laws against unfair competition. We're the country that puts people in jail for price fixing, and even elects our President through freedom of choice. So how in the world did mobile home park owners get such an unfair advantage - the ability to completely avoid free competition and operate in an environment free of competitive forces?

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Manufactured Home Community Cyber Liability Growing Fast

In the past, most lawsuits against small business revolved around bodily injury or tangible property damage. Product liability, slip and fall claims, injured employees and damaged property accounted for most losses. Prudent business practices and traditional insurance are good defenses against these risks. But with today’s rapidly growing computer centric world, that’s changed.

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The Case Against Land-Lease Community Terminology

The mobile home park industry has attempted to re-invent itself many times in the past. Unfortunately, it always seems to revolve around just changing its name, and nothing else. And the name change does little to actually accomplish anything of value, but only serves to confuse people on a product that is already chock full of misconceptions. So here's an analysis of why the "land-lease" name is not the greatest idea.

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Is That Dog Heading To Our Mobile Home Park

New Court rulings and Federal laws are opening the door to allow a parade of dogs and other animals onto your property. In many instances, either the Americans with Disabilities Act (ADA) or the Fair Housing Act (FHA) give your tenants the right to keep a dog or other pet even though your community rules would otherwise prohibit such. Disabled people may request that they be allowed to keep "service animals" and "emotional support animals." Presuming the tenant and animal meet the proper definitions, community management must allow the animal to stay. A "service animal" is defined as a dog that is trained to do work or perform tasks for a person with a disability. "Emotional Support Animals" are broadly defined as any animals, whether trained or not, which provide emotional support and alleviate symptoms of a disability.

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Don’t Put It In Writing

Here are two conflicting things lawyers often say. The first is, "You better have it in writing." Many contracts must be in writing to be enforceable, particularly if they last longer than six months, involve real estate, or are for more than $500. Having an agreement in writing helps clarify any terms which may cause confusion. The second is, “If only my enemy had sent me a letter.” When this happens, you can now prove your adversary’s thoughts with their own words. There’s no better evidence than that. This article is about the beauty of not putting it in writing.

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Employee Paperwork: The Feds Are Coming

If you have been worried about America’s spending binge not resulting in action, here’s some fine news. The Federal government is putting your money (actually, much of the money is borrowed) to work. A $138 million federal employee compliance worksite enforcement effort is underway in 2013. Federal agents are tasked with verifying that employers fully comply with 21 different federal labor laws. Even the smallest companies must comply with some of the laws and are audit targets. In short, your company’s chances of being audited have increased.

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