Greetings all! This website is very informative and members are very helpful. I would like to say first that I am exploring this opportunity b/c I don’t hear anyone talking about it and the perceptions of people to this niche is not, well shall I say in not such nice words.
I have 7 rentals in Texas that are chugging along, but I really enjoy the finance side of this business it since that is my specialty and what I was in college for. The numbers look more like scenarios we used to work out on our TI calculators. Like a real return!! People buying apartments with 4% caps makes no sense to me. I am no expert by any means, I have a continuing education degree in Hard Knock U. I really like the idea of helping provide affordable housing to good folks. I don’t want to say that it can’t be done in my back yard, because I know someone must be doing it. I have just finished reading Making$inMH (just got it tonight in the mail). I have ordered DOW, any others?
I live in the Western part of Los Angeles County. I have told myself that I will drive 2 hours roundtrip to do deals until I get more experience. This leaves me with all of Ventura County and all of North Los Angeles County. Driving downtown will just take too much time in traffic. I want to get results asap and figure I can cover more parks if I stay out of downtown LA! I have made business cards, driven almost 2 parks a day for the last 4 days. Where I live there are very few parks in the immediate area…but there are plenty within 45-60 minutes of me. From all that I have read so far in the posts, I feel like I may need to go out past Ventura and also look to Kern County. My wife speaks spanish so this will help in areas farther out.
She thought I was nuts at first to consider mh’s since I drag her with me as much as possible when I drive around looking at parks. The first few days I would pick her up from work and drive the area around her job so she could see the places. Tonight, while driving around the parks in my 5 mile radius, she got the wonderful notion that living in a MH community would be great for her mom with the money that we can make. I have learned to let her find her conclusions, so I am not the dreamer, we can do this bit I always pull.
I would really like to keep to my rule of 1 hour driving distance. But, I figure I should ask for feedback to see what others think.