Part time job, or full time work?


#1

Mark,

When building your real estate portfolio it will require making some sacrifices but the payoff is HUGE. I have invested in almost all real estate sectors and by far I like mobile home parks the best (and to some degree Self Storage as well) due to:

Centralized management

Law of numbers: small rent increases = huge increases in monthly profits

Once the park in stabilized/turn key, reduced management/maintenance

Great cash flow with long term potential land play

This is just for starters…

The key will be to hire a good onsite manager! :slight_smile: Technology allows management from afar to be possible (I manage my properties from over 1,000 miles away).

Corey


#2

Mark,

My first park was 69 spaces and a little more than half vacant. I spent about 15 hours a week on the park for almost two years while working a full time job.

The park was close, but my manager was key. He handled day-to-day issues and I focused on bringing in homes to fill the park up.

I totally agree with Bret, this business is work. However, the end game is well worth the sacrifice. I encourage most people to keep their day job until the income from their real estate investments is steady enough to walk away from the JOB.

Good luck and keep the dream alive.

Steve Case