Let start out the truth about mobile home parks for sale and investing. There seems to be a lot of misinformation about how mobile home parks are valued, how they are sold and how to purchase them. Somehow the real estate seminars & how to books that have been around decades on investing in houses and apartments are making their way in to the mobile home park arena. These rehashed themes and techniques are claimed to be “New” and “Innovated”, but in reality they are old concepts repackaged and spun to look new ideas. They claimed to be in untapped or out of the box areas by park “Gurus” that even claim to own parks (if they do it’s in some backwater town in the middle of nowhere). You can own 10 condos in a bad part of the US for dirt cheep, that doesn’t make you a guru. Until now the park industry has been able to avoid this type of attention take a look at http://www.mhrvadvisors.com/ and you will see there is a very sophisticated industry in parks.
I am not, repeat not, trying to discourage anyone from investing in Mobile Home Parks. However, I think these seminars and books tend to do a disservice to energetic and motivated people to buy books and attend seminars designed to sell a concept and not really make you money. “Edification” First they will tell you how the guru owns parks and the “secret” park owned homes. I have talked to all the park brokers and nearly all the owners in CA AZ NV and no owner, broker, insurance agent, manager, dealer, or even repair company has even heard of these “Guru’s”. The hope you keep you blinders on too as they sell the next round of seminars. The second is the misconception us that park owners are some kind of relic that doesn’t know what they have. Wrong, park owners own parks because they know exactly what they have. Third YES,… they know what a lease option is and the seminars and books never tell people what an option consideration is in a master lease scenario. Basically it is like a deposit for a sale, security so the property isn’t “Juiced” then leaving the owner to take back a bad asset. It is not a secret or new way to purchase property.
It doesn’t make any sense, why would a property owner, especially a park owner would elect to give up a cash flowing property for zero down and give a buyer a win, win win. Most seminars spend most of their time and energy justifying how somehow your helping the seller??? Step a few steps back and this mythical means of purchase starts to look more and more like a sales technique for books and seminars. Park owners and park brokers know exactly what they are doing and just because a seminar claims to tell you some clever snake oil way the park industry works they are wrong. Like any financial market there are well establish protocols and most of the get rich quick stuff may work on about 1% of the really out there or poor quality parks (which is the same for any real estate). There is very good information and ideas in many of the mobile home park seminars and books. But keep you radar on and if some trick of the trade seems wrong ask me here. Or visit http://www.mhrvadvisors.com/mobile-home-parks-for-sale-&-rv-parks-for-sale-listings-in-ca-az-nv.html