It looks like I finally have got my head above water and ready to charge 2008! Wanted to give you some updates with myself, properties and Mobile Home University!
The California real estate market is crumbling around me which is great (as an investor) because I plan on re-entering the market in mid to late 2009. Tha banks have not get realistic yet and are stockpiling homes. The dam will break soon and when it does life is going to be AMAZING!
The mobile home parks and self storage facilities have kept us quite busy. We are putting the finishing touches on our MHP’s in West Texas… 200 park owned mobile homes later! They will be completely full within the next 60 days. For quite a few of you that have been to the mobile home park bootcamp you will remember these parks in different phases. It has been 3 years (although at Christoval a/k/a Chernobyl it seems a lifetime lol!) but now these properties are big ATM machines. The residents that we are getting have credit scores of 650+. In less than a year the quality of the buyers of our homes has changed dramatically with the stick built market turmoil and lending blowup. We now are turning our focus to the MHP’s in Dallas.
I also have finally finished a self storage expansion of 7,000 square feet that was supposed to take me less than 12 months and a cost of $110,000. After 3+ years and $250,000 I can safely say that I will never do another expansion of anything the rest of my life!
This year I am focused on two great events. The first being the annual Mobile Home Millions event. I am so excited about MHM6 in Austin (April 18th - 20th). We have a number of new speakers and our topics will address the rapidly changing real estate market and lending turmoil. We will also have a lot of familiar faces but many new ones as well. The networking is just awesome! Make sure and reserve your space as we expect to sell out. We also only have a limited number of hotel rooms for our room block so once they are gone the price almost doubles.
Last year we co-sponsored a week long cruise with Jack Miller and Pete Fortunato and had so much fun. Steve and I brought our familes and really enjoyed ourselves. It was a great time mixed with both business and personal. We have decided to do another cruise and this year we will be going to Alaska (July 27th - August 3rd leaving/returning Seattle). We just confirmed all of the details so stay tuned! Dyches Boddiford will also be joining us!
One of my New Years Resolutions is to be more active on the Forum Board again so you will see a lot of me.