596: The 3 Ways to Find Profitable Properties that Big Investors Won’t Touch w/Amanda Cruise

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Investing, Business

4.8 • 16.6K Ratings

🗓️ 14 April 2022

⏱️ 57 minutes

🔗️ Recording | iTunes | RSS

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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: Craigslist Facebook Marketplace Airbnb LoopNet CoStar Sarah Weaver's Website David's Instagram David Greene's Real Estate YouTube Channel Rob's TikTok Profile Rob's Instagram Rob's 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 Brandon Turner's Instagram Mobile Home Park Investing Course by Amanda Cruise Connect with Amanda: Freebies from Amanda's Company Website Amanda's Instagram Check the full show notes here: https://biggerpockets.com/blog/real-estate-596 Learn more about your ad choices. Visit megaphone.fm/adchoices

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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