I am interested in enrolling in the Mobile Home University, however if I don’t have sufficient funds I won’t be able to act on all that I have learned and I suspect that I am not yet appropriately capitalized to enter the industry. I have seen some smaller parks selling for as little as 80K and I understand that seller financing is common, but what would be an average of capital that most people have when getting into this industry?
I have also been reading about investing in mobile homes and this seems a little easier to get started. Can anybody comment on which has higher net profits? Mobile homes or the parks? I’m sure this has already been previously debated, but I would be curious if anybody could elaborate on the pros and cons of starting in homes vs. parks.
My background is in construction, although as an employee, not an owner, so I am also considering whether it makes more sense to try my hand at building some homes, saving money then investing in my first park, or trying to find a job as a manager of a park, and then hopefully investing in mobile homes and then moving onto parks. Any opinions on these 2 different paths?
I understand that some people may have gotten started with $1,000 and a fire burning inside them, but I am not that person and I am interested in learning how most people got started because this makes it easier to assess the challenge.
Thank you in advance for any input.