Ep #61: Purchasing a Park That Has a Large Number of Homes Owned by an Outside 3rd Party Investor and Why This Can Be a HUGE Risk

The Mobile Home Park Investing Podcast - Real Estate Investing Niche

Kevin Bupp

Passiveincome, Business, Mobilehomepark, Cashflow, Syndication, Investing, Realestate, Mobilehomeparkinvesting, Kevinbupp, Realestateinvesting

5 • 1.1K Ratings

🗓️ 11 April 2017

⏱️ 15 minutes

🔗️ Recording | iTunes | RSS

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Summary

Welcome to the Mobile Home Park Academy podcast. In this episode, Charles and I will discuss mistake number 16 from our popular eBook, “The 21 Biggest Mistakes Investors Make When purchasing their First Mobile Home Park…and how to avoid them.”

One of the great things about owning multifamily real estate is that it is just that, multi-family. On a 100-unit property, losing one tenant is relatively insignificant. What if that one tenant was an investor and they owned 10, 20, or 30 of the units in the park? This is something that we have seen time and time again in the mobile home park industry.

One might think, on the front end, that it would be nice to only have to collect one big check on those units. You may also like the idea of dealing with less tenants and having someone else handle tenant relations on those units. Where is the problem in this thinking? If this sounds like a nice arrangement, I would also like to pose the following potential problems:

What happens if your investor/tenant doesn’t screen their tenants properly?

What happens when your investor/tenant doesn’t like the recent rent raise or having utility costs passed along to them?

What happens when your investor/tenant doesn’t maintain their homes?

What happens when your investor/tenant moves these homes elsewhere?

What happens if your bank has the same concerns?

Having a third party investor in your park is not always a bad thing. It can sometimes be a good thing. However, you need to know how to remain in control of your park and protect your investment. We can show you how to maximize this arrangement and work with these investors properly.

Click Here to Grab a free copy of our latest book “The 21 Biggest Mistakes Investors Make When Purchasing their First Mobile Home Park…and how to avoid them

Want to Learn How to Invest in The Lucrative Niche of Mobile Home Parks? Check out our Free Training that Will Teach You The Systems and Processes We Use To Find The Most Profitable Deals. Click Here to Learn More
Have An Interest In Partnering with a Team with a Proven Track Record in the Mobile Home Park Space? Click HERE to Learn More About Our Partnership Opportunities.

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 Bupp and Charles D. Hart.
0:39.6	Welcome guys and gals to the Mobile Home Park Academy's weekly podcast. I'm your host Kevin Bob
0:44.3	and just in case you're tuning in for the very first time I want to let you know
0:47.8	that today's episode is a little different from our normal weekly show but don't you
0:52.1	worry I'm still 100% positive that you'll find a
0:55.4	ton of value if mobile home park investing is what you came here to learn about. You see, many, many, many, many, many months ago,
1:03.7	actually a little bit more than a year and a half ago,
1:05.6	to be exact, Charles and I, we created 21 special release
1:09.5	episodes showcasing the 21 biggest mistakes
1:12.3	that we see new investors make when entering
1:14.9	into the mobile home park business and our original intent was to release one
1:18.8	episode per week in addition to our normal weekly segment but But sadly, we got sidetracked,
1:24.5	and we only ever released the first seven shows.
1:27.0	In fact, you can actually go back and listen to these first seven mistakes
1:30.5	by going and listening to episodes number two four six eight
1:34.8	ten twelve and fourteen on our podcast and I would actually suggest that you do that if
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