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.

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.

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only material that I feel is still relevant today, but there's a chance you might find references that could be outdated

at present such as website URLs.

Thanks for tuning in, and now on to the show.

Welcome guys and gals to the Mobile Home Park Academy's special series on the 21 biggest mistakes

new investors make when purchasing their first mobile home park and how you can avoid them.

I'm your host, Kevin Bup, along with my co-host and business partner, Charles D. Hart.

Charles, tell our listeners about the big mistake we're going to be covering today.

Thanks, Kevin.

Big mistake number 16 is buying a park where a third-party investor owns more than 5% to 10% of the homes.

And this topic is important because throughout the course of looking for parks, you're going to run into investors like this.

And you need to understand what the opportunities might be for working with them and what the risks are for working with them.

Yeah, what are some of the downsides?

I mean, it sounds like that would be a no-brainer. If you've got, if you've got empty pads in a park or you've got

some empty homes, an investor comes in and buys those up and rents them out and this pays you lot

rent, then what is the downside to that, Charles? The downside is it makes your exit strategy

very difficult. The real risk with this investor is when you actually buy a park that has

this investor in it.

You know, usually you have to almost wrap your mind around the idea that this person will

not pull out all of those homes at one time if they don't like the fact that you're raising

rents on them or passing utilities back on them.

...