I’m not new to real estate investing but I am new to the world of MHPs.
I’ve been soaking up a lot of info here on the forum and other sources. Comparing it to many other real estate investments, MHPs seem to have some distinct advantages that somehow I was not clued in to or my misconceptions stopped me from pursuing. This industry appears to be something I would really enjoy being a part of and provide great income given the right investments.
I plan to attend the upcoming boot camp and purchase the home study course to get a better understanding of the industry. Unfortunately, my funds are locked up in some very nice resort homes which produce little cash flow. I don’t see a sale/1031 of these properties anytime soon due to the current market. Eventually when I do have available funds to move forward, I want to have done my homework and be able to act fast. I would also seek a second set of eyes (consultant/mentor) to me ensure success of my first deal or two. I can’t sink the family ship (it’s more like a life raft). From then on, I could in turn help others the way I was helped.
The MHP community seems very helpful to one another - way more than I would have expected. I’m a big networking guy but my first thought is why is everyone seemingly so helpful when in fact, below the surface you’re just assisting your competitors while creating more competitors all the time with Mobile Home University and Mobile Home Millions 6 and so on? I’m sure that money is made on these as it should be for providing this valuable information, but why is everyone not just out doing more deals on their own behalf instead of spending time generating competition? What am I missing - am I just crazy or what???
Any of your thoughts on getting started, better educated or exchanging existing properties (Palm Springs, CA and Las Vegas) into a MHP would be greatly appreciated.
Thanks for reading and thanks in advance for your responses.