Posted by Berno on June 05, 2006 at 12:09:46:
I operate in Benton, Linn and Johnson counties.
Small Parks - Posted by Berno
Posted by Berno on May 31, 2006 at 11:04:48:
Hello all. I was wondering what your opinions are on owning small parks, say 10-20 lots on 2-5 acres. I have a chance at a smaller park that seems to be a decent deal and I was wondering if the experts here think that buying a small park is a good way to obtain experience before moving on to bigger parks. Not looking for specifics or breakdowns, I’d just like people to give me their opinions and experiences owning smaller parks. Thanks!
(and I already own Lonnie’s books and Ray’s MHP book…I DO listen to you folks!)
Re: Small Parks - Posted by Chris Reuman (Maine)
Posted by Chris Reuman (Maine) on June 02, 2006 at 09:16:03:
Be very carefull with your purchase price and adding in all your expenses. Also, you want to look at making all the lots, rental home lots. The lower the number of lots, the less you can spread over expenses. The biggest problem I see, is that the owners want too much for these small parks: 4-15 lots. They view it more on a living unit, live in one and have the other two pay your mortgage type. These are way too high in price. So just really know your income, expense, and your profit numbers and don’t budge.
Best investing, Chris
can you afford it? - Posted by Steve-WA
Posted by Steve-WA on June 01, 2006 at 19:13:51:
can you afford NOT to go to the boot camp?
couch is better . . . mmmmm, comfy . . . ooohh! “24” reruns!
Re: Small Parks - Posted by Tony Colella
Posted by Tony Colella on May 31, 2006 at 23:39:45:
Perfect timing Berno.
We are registering now for our only Land/Home, Small Park boot camp of the year which will be held in August.
Check the banner on the mobile home forum for more details.
No better way to get a crash course than to join us on the bus, see our small parks and find out what we paid, why, how we make money and how we intend to exit from these properties.
We also go into how and why we fix maintenance and tenant problems. As mentioned, more details are in the banner link.
Hope to see you there.
Tony
Re: Small Parks - Posted by Anne_ND
Posted by Anne_ND on May 31, 2006 at 16:58:25:
The bootcamp will help with this. You might also try Tony & Scotts materials which deal specifically with small parks, I believe.
Anne
Re: Small Parks - Posted by JC
Posted by JC on May 31, 2006 at 14:14:11:
I am actually in the same situation like yours. I think buying a small park is a good way to learn as far as comfort level. You can even go to 50 spaces, with management in place if you like, so the lots will also cover expenses in case of a few vacancies. Where is the park located? Good luck.
Ahh Steve-WA… - Posted by Berno
Posted by Berno on June 02, 2006 at 10:51:02:
You are positivly one of my favorite folks on this site, and one of the big reasons that the MH message board is the best!
Not much couch time here in God’s country (Iowa). I have a full time J-O-B, a wife who is a nurse and works messed-up hours, a handful of rentals and rehabs and a 3 year old daughter. I think I average about 9 minutes a week in my recliner.
…and you will NEVER catch me watching a show like 24!
Sounds good… - Posted by Berno
Posted by Berno on June 01, 2006 at 09:14:57:
but I’m not sure that I would be able to attend. Don’t try to pressure me either folks…I’ve had rental houses for several years and I’ve got a MILLION good reasons to explain why I can’t make it!
Actually, I’d love to attend…I just need to get one of the stick-built houses sold that I have on the market so I can pay for it!
Where you at in IA? (Quad Cities here) nt - Posted by jd (IL)
Posted by jd (IL) on June 03, 2006 at 24:30:05:
.
one of your favorites - Posted by Steve-WA
Posted by Steve-WA on June 02, 2006 at 13:20:15:
yes, yes, I know . . . what a burden I must bear . . .
;-)3