MHP #712: How to Assess the Risk When Purchasing a Park That Has Very Small Lots and Cannot Accommodate New Homes
Real Estate Investing for Cash Flow with Kevin Bupp
Kevin Bupp
4.9 • 675 Ratings
🗓️ 28 February 2024
⏱️ 13 minutes
🧾️ Download transcript
Summary
Today's episode is from Mobile Home Park #58 that originally aired on April 17, 2015.
Welcome to the Mobile Home Park Academy podcast. In this episode, Charles and I will discuss mistake number 13 from our popular eBook, “The 21 Biggest Mistakes Investors Make When purchasing their First Mobile Home Park…and how to avoid them.”
You can fix many things in a mobile home park, but the one thing you can’t fix is the size of your lots. There are many parks that were built many, many years ago when mobile homes were routinely 40-50’ in length with lots designed with that size of home in mind. The problem is that most newer post-HUD era homes are much larger (60’, 70’, and even 80’+ in length) and would never fit onto those smaller lots and there aren’t many options to purchase smaller homes should you need to replace on of these smaller 40 to 50’ homes.
It’s imperative that you understand what your backup plan is should you ever lose a home and need to reoccupy that empty lot. A lost home equals lost revenues and if that lot can never again be occupied due to it’s size then you might find yourself in a situation where you have a shrinking park on your hands. Know your options…
- 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.
☑️ Recommended Resources:
Check out our company and our investment opportunity by visiting www.SunriseCapitalInvestors.com
Self DirectedIRA Investment Opportunity–Click Here: https://www.advantaira.com/partners/s... To Learn More About How You CanInvest With Us Through Your SDIRA
Accredited Investors Click Here: https://sunrisecapitalinvestors.com/ to learn more about partnering with me and my team on Mobile Home Park deals!
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 MobileHomeParkAcademy.com
Schedule your free 30 minute "no obligation" call directly with Kevin by clicking this link https://www.timetrade.com/book/KV2D2
Transcript
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| 0:00.0 | 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. |
| 0:06.4 | 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. |
| 0:14.1 | 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 |
| 0:20.9 | at present, such as website URLs. Thanks for tuning in, and now on to the show. |
| 0:27.2 | Welcome to this week's Mobile Home Park Investing Podcast that will teach you how to successfully |
| 0:32.1 | invest in and build steady streams of passive income from the highly lucrative niche of mobile home parks. |
| 0:38.8 | With decades of experience, |
| 0:40.5 | Kevin Bup will personally share with you |
| 0:42.3 | the valuable lessons he's learned along his journey |
| 0:45.0 | so that you too can learn how to generate cash flow |
| 0:48.0 | and build legacy wealth for you and your family. |
| 0:51.1 | Now, without further ado, |
| 0:53.0 | let's welcome your host for today's show |
| 0:55.0 | Kevin Bobb welcome guys and gals to the mobile home park Academy's weekly |
| 1:01.0 | podcast I'm your host Kevin Bob it's just in case you're tuning in for the very |
| 1:05.1 | first time I want to let you know that today's episode is a little different from |
| 1:09.1 | our normal weekly show but But don't you worry, |
| 1:11.7 | I'm still 100% positive that you'll find a ton of value if mobile home park investing is what |
| 1:17.2 | you came here to learn about. You see, many, many, many, many, many, many, many months ago, |
| 1:22.6 | actually a little bit more than a year and a half ago, to be exact, Charles and I, we created |
| 1:26.7 | 21 special release episodes |
| 1:28.9 | showcasing the 21 biggest mistakes that we see new investors make when entering into the mobile |
... |
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