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.

Single Wide Mobile Home Millionaire

single wide mobile homeWhat exactly does a single wide mobile home have to do with reaching millionaire status? There are a couple of ways we could go about addressing this issue. The obvious would be to extoll the virtues of mobile home park investing, complete with facts and figures to back up how this might be the most profitable sort of real estate venture of them all. But today we’re not going down that path. Instead, we’d like to bring up how living in a single wide mobile home might be the best financial decision you’ll ever make.

To some people in the world of small business, an important concept to internalize early and often is the idea of continually looking for ways to trim expenses. The surest, and often quickest, way to increase your profit is to cut an expense, and perhaps nowhere is that necessity more evident than the first year of owning a mobile home park. First of all, there’s a good chance the park may have been allowed to slide into the land of disrepair and dwindling profits by the previous owner. They often sell because they’re just tired of the grind.

So think about this – moving into a vacant single wide mobile home in the park could be a great idea to save on housing expenses, at least in the beginning when you’re trying to turn the park around financially. While this idea might not make sense in every case, it’s at least something to consider. If you own your home free and clear, there’s probably no reason to move into the park unless you’re also functioning as manager and want to maintain a close eye on the premises. But if you happen to be a renter and you’re paying more for the privilege than the rent that would be lost by inhabiting one of your own trailers, well, we can think of worse ideas than moving in.

Anywhere that an expense can be saved is worth taking a look at to see if it is indeed feasible. Keep in mind that, should you decide to do so, living in a single wide mobile home palace isn’t forever. It’s simply part of an overall initial approach that keeps cash outflow to a minimum and bank rent deposits at a maximum. After you’re a millionaire you can start pondering the possibility of…a double wide!

The MHP Listings Team

MHPListings.com

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