MHP #786: Dealing With Mobile Parks Located in a Flood Plain - Are They Worth The Risk?

Real Estate Investing for Cash Flow with Kevin Bupp

Kevin Bupp

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4.9 • 675 Ratings

🗓️ 28 August 2024

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today's episode is from Mobile Home Park #54 that originally aired on March 23, 2017.

Welcome to the Mobile Home Park Academy podcast. In this episode, Charles and I will discuss mistake number 9 from our popular eBook, “The 21 Biggest Mistakes Investors Make When purchasing their First Mobile Home Park…and how to avoid them.” When performing due diligence, it is important that you determine if the park lies within a floodplain. In fact, this should be one of the first steps you do.

In today’s show Charles and I will discuss the following: How does a flood zone affect the deal? Can you even do this deal if it’s in a flood zone? Can it be financed? What will your insurance agent say? Are there scenarios where a flood plain may be OK?

We’ll cover all of this and more in todays show. Enjoy!

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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only material that I feel is still relevant today, but there's a chance you might find references that could be outdated
0:20.8	at present, such as website URLs. Thanks for tuning in, and now on to the show. Welcome to this
0:28.1	week's Mobile Home Park Investing Podcast that will teach you how to successfully invest in and build
0:33.6	steady streams of passive income from the highly lucrative niche of mobile home parks.
0:38.9	With decades of experience, Kevin Bup will personally share with you the valuable lessons
0:43.2	he's learned along his journey so that you too can learn how to generate cash flow and build
0:48.4	legacy wealth for you and your family. Now without further ado, let's welcome your host for today's show
0:55.0	Kevin Bubb welcome guys and gals to the mobile home park Academy's weekly
0:59.8	podcast I'm your host Kevin Bob and just in case you're tuning in for the very
1:03.9	first time I want to let you know that today's episode is a little different from
1:07.9	our normal weekly show but don't worry, I'm still 100% positive
1:12.3	that you'll find a ton of value if mobile home park investing is what you came here to learn about.
1:17.7	You see, many, many, many, many, many, many, many months ago, actually a little bit more
1:22.3	than a year and a half ago, to be exact, Charles and I, we created 21 special release episodes showcasing the 21 biggest
1:29.5	mistakes that we see new investors make when entering into the mobile home park business,
1:34.3	and our original intent was to release one episode per week in addition to our normal weekly
1:39.1	segment. But sadly, we got sidetracked and we only ever released the first seven shows.
1:44.9	In fact, you can actually go back and listen to these first seven mistakes by going and listening
1:49.3	to episodes number two, four, six, eight, ten, twelve, and fourteen, on our podcast.
1:54.9	And I would actually suggest that you do that if you haven't done so already.
	...

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