We are in some of the most challenging times in my entire life.
I think there will be tremendous wealth created in the next few years by folks NOT afraid to invest. I’m not talking about investing savings or retirement accounts, I mean folks willing to sign on the dotted lines on mega parks sold 30 cents on the dollar. many of the REIT’s are divesting themselves of MHPs. I think there will be trmendous need for affordable housing in the near future. i got home at 8:30 tonite because after work, I drove to Orlando to look at a 134 space park with 47 empty spaces. I will sell our 1.5 acre family plot to L/O the thing if i have to and go live in the Park. It casflows over 13K per month at asking price.
And Rick you are right, I am not buying the Park, I am buying (leasing actually) the cash flow stream.
There wqll be fortunes lost and new fortunes made in the next few years…I want to gain as do most of the folks on this Board.
I am throwing something out that is mind boggling in it’s scope.
I propose that some of the other seminars and Bootcamps and possibly other forums (CRE and even MHPS) combine resources and contacts and have a jointly sponsored mega meeting devoted strictly to looking for answers to some of the questions folks are asking in these troubled times.
I realize the logistics are daunting. We have different formats, agendas, pricing schedules, etc. but that will just make it more …er challenging. We have some of the best MH investing minds(minds period) in the world on this forum and this is a way to sort through the problems confronting us ALL and look for some answers that can help us all!
I get bored when I drive and this just popped into my mind. We face fantastic obstacles right now, but with these are fantastic opportunities to finally buy that mac daddy park we ALL want at a price that finally makes sense. On my own, I am not smart enough to be scared. I am trying to BUY Parks and would hesitate to sell ANY income stream right now. Iam looking for another hard money source as i type and will go in debt to secure one or more of these parks…I believe in the affordable housing paradigm as much today as I did the first time I read DOW in 2002. In fact, more so. Folks have to live somewhere and MY last 4 move-ins are great people that had their homes foreclosed. I have electric in my name to these homes because the utility will not turn on power to credit damaged folks without huge deposits. All have great jobs but the 2700 per month mortgage payments almost bankrupted them (one it did).
I’ve never been shy about sharing concerns, fears, or ideas…this is how I learn.
Things are changing, times are tough, money is tight, there is safety in numbers. These are all facts in my life and i no longer believe I am alone. Is this a good idea? Come on folks, tell me if this makes some sense…