CIS 31 – An Action Plan for Mobile Home Wealth

Join Jason Hartman as he interviews Stu Silver, The Mobile Home Man, regarding his mobile home and mobile home park investing strategies.  Learn the do’s and don’ts about investing, how to protect yourself from being taken advantage of, to know when you’re getting a good deal, and even how to inspect your mobile home to make sure you don’t find any unwanted surprises.  Stu says there are over eight million mobile home parks in the United States and you can get a good deal on a mobile home, or even possibly get one for free.  Stu’s first rule of investing is, “Protect yourself at all times!”  For more details, listen at www.commercialinvestingcenter.com.

Stu Silver has been investing in real estate for 30 years and has specialized in mobile homes for the last 18 years.  He is known as The Mobile Home Man or Uncle Zally, and has authored three books (under the penname Zalman Velvel), Mobile Home Wealth, Mobile Home Wealth Part 2, and How to Get a Good Deal on a Mobile Home or Even Get One For Free!. He also features his Mobile Home Wealth Systems on CD’s and does live Mobile Home and Real Estate Training.  Additionally, Stu writes a mobile home blog called “Kangaroo Kronicles.”  He holds the CCIM designation and is a licensed real estate broker, mortgage broker, auctioneer, mobile home dealer, and former real estate appraiser.  He has trained more than 5,000 people in real estate investing in his 3-day bootcamps and live on the internet.

CI 29 – Mobile Home Millions

Jason welcomes his friend and mobile home investing guru, Corey, to this episode of The Commercial Investing Show. Visit: http://CommercialInvestingCenter.com. Adding another entry to our favorite success stories, Corey started his real estate investing career in 1993 by selling his jet ski to raise enough money for a down payment on his first deal. Since then, he went on to build a sizable portfolio of real estate, including apartments, single family homes, self-storage facilities and mobile home parks. Over the past several years he has focused primarily on mobile home parks and self-storage facilities. Corey regularly shares his expert knowledge and enthusiasm for the industry at real estate clubs, national seminars and universities about investing in his favorite avenues of real estate investing: mobile homes, mobile home parks and self-storage units.

CI 22 – Intro to Commercial Real Estate and Getting Your Spouse Into Investing

Jason talks with commercial real estate expert Tolliver Morris and one of Platinum’s clients turned Investment Counselor, Dave Toombs. Visit: https://commercialinvestingcenter.com/category/podcast/.

Commercial real estate: A review of product types and their corresponding tenant profiles. What is best for you and what are the management responsibilities of; apartments, retail, office, industrial, triple net NNN properties, medical properties, mobile home parks or self-storage?

Client and Investment Counselor, Dave Toombs, talks about maintaining marital bliss while investing and helping his kids buy their own rental properties.

Manufactured Home Community Legal Questions

manufactured home communityWe’ve noticed that many manufactured home community landlords turn to their favorite forum to post questions. We think that’s great if you take the answers with a grain of salt. Remember that on a forum we can all be who we want to be, Donald Trump if the urge strikes us. What we’re saying is that answers from fellow forum-ers to questions you post might be entirely legitimate, or they might be the cleverly concealed ravings of a lunatic mind. Surely you wouldn’t be so silly as to base your business life on a forum answer? Would you?

Think about it like this: one lawsuit could wipe you out completely, perhaps to the financial extent that you’d never recover from. One recent scenario we saw posed – a two-year regular tenant on the run from the law disappeared with the title to her trailer, which sits in the questioner’s manufactured home community. Now he has a couple interested in buying it. What is the status of the trailer’s ownership and how can the landlord go about claiming it as abandoned property?

A local deputy told the owner that after 30 days it was his. The deputy may or may not know what he’s talking about. He could be a fine, upstanding member of the law enforcement community and he might be a crack-addled Barney Fife. Regardless, the landlord should not go to local law enforcement or a random forum to find the answer to this question. Even if a response claims to have gone through that exact same situation.

What do you do? Use your brain. For any manufactured home community issue that even slightly reeks of legal ramifications, contact a lawyer. You might even consider cultivating a working relationship with a good one – just in case. His legal opinion should take precedence over Barney or a random forum poster.

Good day.

The MHP Listings Team

MHPListings.com

Flickr / brykmantra

Creative Ways To Fill Your Manufactured Home Community

manufactured home communityThe bane of the manufactured home community owner is vacant units. Unless you’re laundering money for a drug cartel on the side, the secret to running a profitable business in this industry is to keep your tenancy high. Since it’s not socially acceptable to force families to rent from you at gunpoint, you’re going to have to get more creative about getting the word out about how great it is to live in your community.

It is great to live in your community, isn’t it? Although with good enough marketing, it doesn’t really matter whether you’re offering quarters in the Hilton or the next great urban ghetto. Everything else being equal, what it comes down to for most folks choosing a new place to live is money and how little it’s going to cost them upfront to move in. You might be surprised exactly what sort of squalor will be tolerated for a free first month’s rent.

We’re being a bit facetious here because it doesn’t make good business sense to fill your manufactured home community with freeloaders who have to be evicted for non-payment the second month. But the point is still a legitimate one. People like freebies and if you can come up with a creative approach that makes it financially appealing to choose one of your units, there’s a good chance they will.

Think like a renter for a few minutes and try to come up with a few deals that would be appealing if you were standing in their shoes. Yes, you still have to make a living but would it kill you to give a little in return for a lower vacancy rate? How about offer every twelfth month free to encourage long time rentals? Or a $100 shopping monthly spree (tax deductible of course) at the local grocery store given to whichever renter’s name is pulled out of a hat? There’s a million ideas like these. Pick something of real value that won’t bust your wallet and get busy filling your manufactured home community with swell tenants.

The MHP Listings Team

MHPListings.com

Flickr / boetter