Find the Parks You Want to Invest In/Driving for Dollars

This is MY ADVICE FOR ALL NEWBIES!  The 1st way you should be finding Mobile Homes…

Search the yellow pages or superpages.com to find mobile home parks in your area.  Call local parks to find out 1.)  First if they are “Owner Occupied” or only a “Rental Park”?  We want parks that homes are for sale… not rent!  2.)  Then ask if there are Age restrictions; 55 plus or family allowed?  3.)  What the lot rent is per month? Typically 20%-40% of my incoming “monthly gross note payment” goes to pay the lot rent.

You REALLY WANT to be looking for “owner-occupied” mobile home parks, a family community, and a low lot rent would be preferable.

While over the phone I like to then thank the managers for their time and find out what their office hours are….

IF THE PARK MANAGER ASKS WHAT TYPE OF HOMES YOU ARE LOOKING FOR? If the manager is in a good mood they may ask you what size of home you are looking for, or what price range you were trying to stay in.  It is now that I divuldge that “my name is John.  I am looking to purchase any homes in need of repairs or inexpensive homes they might have gotten back through eviction or abandonment.”

Say “Typically $500-$1k, but can go higher if the homes are nicer.”  Make sure to say LOW prices you for what you are looking for.  (The purpose of this call is if the park itself has homes for sale, not the individual owner-sellers in the park FSBO!) You can always increase your offer price later.  If you say $500-$2,000, it is only human nature that the manager or any seller is going to say, “I might have something for $2k, when he would have sold it for $750 if you offered lower!)

She will typically ask, “Who you work with? Or what you plan on doing?” I tell the manager that, “We/I am very interested in purchasing, fixing (if needed), and reselling mobiles (typically being lein holder) to a park approved owner.”  Tell the manager you will be in over the next few days to meet and she what she has.

IF THE PARK MANAGER SAYS NOTHING AFTER YOUR QUESTIONS? I prefer NOT to have the previous conversation with the park manager “over the phone”, I would much rather be in person. (See Meeting Manager chapeter)  If the park manager says nothing to you, or does not try to initiate any further conversation… Hang Up! (say “thank you” first)

In addition to setting appointments with park manager if they have inexpensive mobiles for sale; calling park managers gathers a list of Owner-occupied, Family friendly, low lot-rent mobile home PARK$.  With these 3 things you are armed with a list of great parks to go drive for dollar$.  Getting “YES” to these 3 questions will drastically speed up your investing process.

Before you go meet with the manager read Taking your “List of parks” and Meeting the Managers.

Parts of this blog post were taken from my Course.  EVERYTHING YOU NEED TO KNOW TO BUY, HOLD & SELL MOBILE HOMES AND NOTES