Ep #4: Part 2 of The Biggest Mistake Investors Make When Buying Their First Mobile Home Park...and how to avoid them
The Mobile Home Park Investing Podcast - Real Estate Investing Niche
Kevin Bupp
4.9 • 1.1K Ratings
🗓️ 16 June 2016
⏱️ 7 minutes
🧾️ Download transcript
Summary
In this episode, Charles and I will discuss mistake number 2 from our popular eBook, "The 21 Biggest Mistakes Investors Make When Purchasing their First Mobile Home Park…and how to avoid them." This episode will cover why you shouldn't self-manage your mobile home park. We understand that some owners do so and if you happen to fall into this category, you should still be building in the expense of a manager in your numbers when you go to purchase a mobile home park investment. Avoiding this mistake can save you a ton of time and allow you to more effectively scale your business.
Recommended Resources
- Click Here to Grab a free copy of my latest book "The 21 Biggest Mistakes Investors Make When Purchasing their First Mobile Home Park…and how to avoid them
Transcript
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| 0:00.0 | Welcome to the podcast that will teach you how to successfully invest in and build steady |
| 0:09.8 | streams of passive income from the highly lucrative niche of mobile home park investing. |
| 0:15.0 | Veteran real estate investors Kevin Bupp and Charles D. Hart from Mobile Home Park Academy |
| 0:20.0 | will personally share with you the valuable lessons they've learned along their journey as mobile home park investors |
| 0:25.8 | so that you too can learn how to build massive cash flow and huge profits from this extremely lucrative niche. |
| 0:33.6 | So without further ado, let's welcome your hosts for today's show, |
| 0:37.8 | Kevin Bup and Charles D. Hart. |
| 0:39.8 | Welcome guys and gals to the Mobile Home Park Academy's special series on the 21 biggest mistakes |
| 0:45.4 | new investors make when purchasing their first mobile home park and how you can avoid them. |
| 0:50.6 | I am your host Kevin Bupp, along with my co-host and business partner, Charles, |
| 0:54.8 | Charles D. Hart. Charles, tell our listeners about the big mistake we're going to be covering today. |
| 0:58.8 | Thanks, Kevin. Big mistake number two is buying a park with the plan of doing all of the work, |
| 1:04.8 | management and maintenance yourself and then not paying yourself for that work in the numbers. |
| 1:09.8 | And really this mistake involves two mistakes. |
| 1:12.3 | The first mistake is in self-managing and the second mistake is uh... is running your |
| 1:17.8 | numbers incorrectly |
| 1:20.2 | and why is that a mistake i mean i know i know that a lot of park owners enjoy doing the work themselves |
| 1:25.6 | and there's a lot of buyers out there that might have an interest in actually doing the work themselves. |
| 1:29.4 | So why is this such a big mistake? |
| 1:31.6 | Well when you self-manage, |
| 1:33.8 | one of the things that happens to you is |
| 1:36.4 | the park suddenly becomes a burden |
... |
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