Mobile home park investing wasn’t very attractive until a few years ago. Thanks to big names in the mobile home park space (like BiggerPockets’ own Brandon Turner), the mobile home investing game has become one of the hottest commodities in the world of real estate investing. But it must take a huge jump to go from investing in single-family rentals to double-digit-unit parks, right?
Today’s guest, Amanda Cruise, is here to tell you that bigger doesn’t always mean more challenging. She actually got out of single-family rental investing due to the non-stop headaches of dealing with contractors, property managers, and tenant maintenance problems. She started doing “Lonnie Deals” where she would seller-finance mobile homes to local buyers. Soon, after enough success, she moved on to tackling entire mobile home parks!
But how did Amanda beat out the competition when the mobile home park space is so hot? Thankfully, Amanda shares her three top tips on getting around institutional investors so you can purchase cash-flowing mobile home parks, without the headaches of syndicating or raising vast amounts of capital.
In This Episode We Cover:
“Lonnie Deals” and seller financing mobile homes for profit
Why changing title on a mobile home is far easier than on a traditional home
Finding motivated sellers and how to slide under the radar of institutional investors
Scaling your team and the “must-have” roles when buying mobile home parks
The not-so-secret way to get a list of mobile home park owners in your area
The true “value-add” opportunities to look for in a mobile home park
And So Much More!
Links from the Show:
Craigslist
Facebook Marketplace
Airbnb
LoopNet
CoStar
Sarah Weaver's Website
David's Instagram
David Greene's Real Estate YouTube Channel
Rob's TikTok Profile
Rob's Instagram
Rob's Youtube Channel
BiggerPockets Podcast 563: W2 Retired and Traveling the World with Just 15 Units w/Sarah Weaver
Robuilt YouTube Channel: Why I’m buying a $3,250,000 Airbnb in Arizona
Brandon Turner's Instagram
Mobile Home Park Investing Course by Amanda Cruise
Connect with Amanda:
Freebies from Amanda's Company Website
Amanda's Instagram
Check the full show notes here: https://biggerpockets.com/blog/real-estate-596
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