#464 MHP: The Risks Associated With Using an Owner's Understated Expenses When Running Your Proforma
Real Estate Investing for Cash Flow with Kevin Bupp
Kevin Bupp
4.8 • 679 Ratings
🗓️ 20 July 2022
⏱️ 5 minutes
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Summary
Today's Mobile Home Park Episode is from Episode #60.
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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only material that I feel is still relevant today, but there's a chance you might find references that could be outdated |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 Buh. |
| 1:00.6 | Welcome guys and gals to the Mobile Home Park Academy's special series on the 21 biggest mistakes |
| 1:05.8 | new investors make when purchasing their first mobile home park and how you can avoid them. |
| 1:10.5 | I'm your host, Kevin Bup, along with my co-host and business partner, Charles D. Hart. |
| 1:15.1 | Charles, tell our listeners about the big mistake we're going to be covering today. |
| 1:18.6 | Thanks, Kevin. |
| 1:19.2 | Big mistake number 15 is using the owner's expenses. |
| 1:22.5 | And this topic is very important because you need to know what the appropriate expenses on a park will likely be |
| 1:28.0 | and not take the owner's word for it necessarily. Okay. And so what you're saying is that the |
| 1:33.0 | owners sometimes might not have accurate financials and not to use their numbers but build our own |
| 1:38.2 | pro forma out, correct? Right. And it happens more oftentimes than not that they don't have accurate |
| 1:43.3 | financials. |
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