596: The 3 Ways to Find Profitable Properties that Big Investors Won’t Touch w/Amanda Cruise
BiggerPockets Real Estate Podcast
BiggerPockets
4.8 • 16.5K Ratings
🗓️ 14 April 2022
⏱️ 57 minutes
🧾️ Download transcript
Summary
Mobile home park investing wasn’t very attractive until a few years ago. Thanks to big names in the mobile home park space (like BiggerPockets’ own Brandon Turner), the mobile home investing game has become one of the hottest commodities in the world of real estate investing. But it must take a huge jump to go from investing in single-family rentals to double-digit-unit parks, right?
Today’s guest, Amanda Cruise, is here to tell you that bigger doesn’t always mean more challenging. She actually got out of single-family rental investing due to the non-stop headaches of dealing with contractors, property managers, and tenant maintenance problems. She started doing “Lonnie Deals” where she would seller-finance mobile homes to local buyers. Soon, after enough success, she moved on to tackling entire mobile home parks!
But how did Amanda beat out the competition when the mobile home park space is so hot? Thankfully, Amanda shares her three top tips on getting around institutional investors so you can purchase cash-flowing mobile home parks, without the headaches of syndicating or raising vast amounts of capital.
In This Episode We Cover:
“Lonnie Deals” and seller financing mobile homes for profit
Why changing title on a mobile home is far easier than on a traditional home
Finding motivated sellers and how to slide under the radar of institutional investors
Scaling your team and the “must-have” roles when buying mobile home parks
The not-so-secret way to get a list of mobile home park owners in your area
The true “value-add” opportunities to look for in a mobile home park
And So Much More!
Links from the Show:
David Greene's Real Estate YouTube Channel
BiggerPockets Podcast 563: W2 Retired and Traveling the World with Just 15 Units w/Sarah Weaver
Robuilt YouTube Channel: Why I’m buying a $3,250,000 Airbnb in Arizona
Mobile Home Park Investing Course by Amanda Cruise
Connect with Amanda:
Freebies from Amanda's Company Website
Check the full show notes here: https://biggerpockets.com/blog/real-estate-596
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Transcript
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| 0:00.0 | This is the bigger pocket podcast show, 596. |
| 0:05.0 | Is anybody ever ready to invest in real estate? |
| 0:09.5 | I think it kind of comes back to, |
| 0:11.5 | you can do it from day one. |
| 0:13.5 | I talk with a ton of commercial real estate investors |
| 0:16.5 | and everybody thinks that's safe. |
| 0:18.0 | There's no reason you have to start in single family. |
| 0:21.0 | If that's where you want to start, that's awesome. |
| 0:23.0 | You could also just learn about mobile home parks |
| 0:26.0 | and go buy a 15 or 20 lot park. |
| 0:29.0 | And that can be your first investment. |
| 0:39.0 | What's going on everyone is David Green, |
| 0:40.5 | your host of the bigger pockets real estate podcast. |
| 0:44.0 | The best place for you to be if you want to build wealth |
| 0:46.0 | the real estate. |
| 0:47.0 | If you're looking to find freedom for your life, |
| 0:49.0 | if you're looking to find more money, |
| 0:50.5 | if you're looking to find a way to exercise |
| 0:52.5 | your creative juices and your God given talents, |
| 0:55.0 | you my friend are in the right place. |
| 0:57.0 | Bigger pockets is a community of over 2 million people |
| 0:59.5 | that are all trying to do the same thing as you |
... |
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