Posted by The55+Guy on October 18, 2005 at 20:15:56:
https://ssl.xpr.com/mfdhousing/mfdcart/showitem.php3?cat=Books&pid=91
(I highly recommended it)
Ray Alcorn vs. Ernest Tew - which one for MHP? - Posted by Somboed
Posted by Somboed on October 18, 2005 at 08:06:19:
Huge Profits in Mobile Homes and Parks by Ernest Tew
Dealmaker’s Guide to Mobile Home Parks: How to Buy and Profit from Mobile Home Parks
by Ray Alcorn
Which of these would you suggest I purchase in my education for purchasing MHP? Or both? I just want to avoid overlap if they discuss and cover the same topics and offer essentially the same info.
I already have Scott and Tony’s book on L/H investing.
Thanks,
Ed James
Re: Ray Alcorn vs. Ernest Tew - which one for MHP? - Posted by jp in pc
Posted by jp in pc on October 20, 2005 at 19:22:14:
I’m a relative new guy to the MH world but we did just buy our first park after doing several MHs. I bought both, Ernest’s, then Ray’s. I found that as we were going through the due diligence process I used both of them at various times. There is not very much overlap between them as the others have said.
John
Re: Ray Alcorn vs. Ernest Tew - which one for MHP? - Posted by Daphne Lowe
Posted by Daphne Lowe on October 18, 2005 at 18:11:09:
I recommend getting both. They are very different and there’s not much overlapping content. Both of these “books” are 100 something pages of 8x11 paper in a loose leaf notebook. They are written in a tone as you and the author were talking face to face. Huge Profits is inspirational and easy to read. Half the book is spent on flipping MHs, a crucial component of Ernest’s & Steve’s strategy of buying turnaround parks, the subject of the second half of the book. They use numerous examples to illustrate concepts. It goes through the math of doing notes. It explores some of the soft/people issues and touches on entity formation. Dealmaker is a good follow-up. It deals exclusively with parks. Its spends more time on the analysis involved in buying a park, due diligence, and touches on park management.
With no offense to Ray, Ernest, or Steve, if you could buy only one book, I’d recommend George Allen’s How to Buy, Manage, and Sell a Manufactured Home Community. It is a true textbook, and at 500 pages, a thorough explanation of the business. Its treatment is more academic, the type of info you need to develop a knowledge base for investing in commercial RE specifically applied to MHPs.
Daphne
I agree with Neil… - Posted by Joe C. (AR)
Posted by Joe C. (AR) on October 18, 2005 at 10:58:33:
I have them both and recommend both. Some overlap but each informative. I got Ray’s first, then Ernest’s and would do it that way again.
Joe C. (AR)
Re: Ray Alcorn vs. Ernest Tew - which one for MHP? - Posted by Neil (MS)
Posted by Neil (MS) on October 18, 2005 at 10:08:18:
It’s been a while since I read either one, and I really like them both. Personally, I think if I had to choose one for parks, I would go with Ray’s for the sheer depth of information on due diligence, day-to-day operations, etc.
Neil