#445 MHP: Part 6 of The Biggest Mistakes Investors Make When Buying Their First Park and How to Avoid Them
Real Estate Investing for Cash Flow with Kevin Bupp
Kevin Bupp
4.8 • 679 Ratings
🗓️ 8 June 2022
⏱️ 5 minutes
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Summary
Today's Mobile Home Park Episode is from Episode #12.
Recommended Resources:
- Accredited Investors, you're invited to Join the Cashflow Investor Club to learn how you can partner with Kevin Bupp on current and upcoming opportunities to create passive cash flow and build wealth. Join the Club!
- If you're a high net worth investor with capital to deploy in the next 12 months and you want to build passive income and wealth with a trusted partner, go to InvestWithKB.com for opportunities to invest in real estate projects alongside Kevin and his team.
- Looking for the ultimate guide to passive investing? Grab a copy of my latest book, The Cash Flow Investor at KevinBupp.com.
- Tap into a wealth of free information on Commercial Real Estate Investing by listening to past podcast episodes at KevinBupp.com/Podcast.
- Learn more about Kevin's investment company and opportunities for Lifetime Cashflow at sunrisecapitalinvestors.com.
Transcript
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| 0:00.0 | Hey guys, Kevin Bup here. Just wanted to make a quick announcement about our Wednesday Mobile Home Park show that you're about to listen to. |
| 0:06.3 | These Wednesday episodes are in collaboration with my other podcast, the Mobile Home Park Investing Podcast, many of which were recorded a few years ago. |
| 0:14.1 | I've carefully hand-selected only material that I feel is still relevant today, but there's a chance you might find references that could be outdated |
| 0:20.8 | at present, such as website URLs. Thanks for tuning in, and now on to the show. |
| 0:27.8 | Welcome to this week's Mobile Home Park Investing Podcast that will teach you how to successfully |
| 0:32.7 | invest in and build steady streams of passive income from the highly lucrative niche of mobile home |
| 0:38.4 | parks. |
| 0:39.5 | With decades of experience, Kevin Bup will personally share with you the valuable lessons |
| 0:43.8 | he's learned along his journey so that you too can learn how to generate cash flow and build |
| 0:49.1 | legacy wealth for you and your family. |
| 0:51.8 | Now without further ado, let's welcome your host for today's show, Kevin |
| 0:56.6 | Bubb. I'm your host, Kevin Bup, along with my co-host and business partner, Charles D. Hart. |
| 1:05.2 | Charles, tell our listeners about the big mistake we're going to be covering today. Thanks, Kevin. Big |
| 1:09.9 | mistake number six is not |
| 1:11.2 | adjusting your property taxes on your pro forma. And this topic is important because it also has to |
| 1:16.2 | deal with not overpaying for the property based on a false expense. Okay. And how do we know |
| 1:22.5 | if the property taxes have or have not been adjusted when we're looking at a marketing package |
| 1:27.1 | from a seller. |
| 1:28.3 | The best way to do it is you need to have a conversation with the assessor, because that's basically who's going to assess the value of the property and give you an idea of what your tax liability will be. |
| 1:39.7 | And then you can just match that up with the pro forma that the broker gave you. |
| 1:44.8 | Okay. |
| 1:45.2 | And what we see a lot of times, Charles, correct me if I'm wrong, is that most brokers |
... |
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