I am finished with this business

I’m done with the MH business and sorry that I ever took the plunge. I’ve spent 15 years fixing up this place and am just plain tired of it. I’m also tired of kicking myself repeatedly over leaving the SFR business where I made much more money with less work than a trailer park entails. Yeah, I’m proud of taking it from a POS dump to what it is now, but my funds are all spent and cannot afford to bring in homes to fill the empty spaces. It does make money, but I can make a lot more fixing and renting or flipping homes. I drank Frank’s Kool Aid and gave it my best shot, but now it’s time for new blood to take over.

THIS IS A PARK FOR NEWBIES. I’ve done all the infrastructure and management systems work for it to pretty much run on auto pilot. What you need to do is to bring in homes and sell them. The empty pads are already upgraded (with permits) and are occupied by cracker plant workers. Consider the situation a holding pattern while you bring in homes.

25 miles south of Youngstown, OH, and 30 minutes from the $6B Shell cracker plant. 42 spaces, Village utilities and plowing. You can have the billing system, phone number, website, PO box, office and storage sheds, and LOTS of tools. You have everything needed, including an onsite manager who would like to stay, to run the place while you bring in homes. If you are doing demographic analysis, forget about OH - the place is a dump and always will be. Look 11 miles away in Chippewa and along 376 so see what drives the local economy. People work in PA because that is where the money is and then live in OH because it is so much less expensive.

If you want to continue with what I have started, here is your chance to own a turnkey operation. And please don’t think you are going to steal it for nothing like Frank teaches. I know what it is worth and that is what I expect to receive. Principals only please as I already have it listed with an agent.

(330) 426-9558


I left a msg on your phone. I bought a park 20 minutes from yours and would like to meet you.


Rolf, I am sorry to hear that the business did not go well for you. As you know the business is capital intensive and takes a lot of management focus. However, our company owns properties in the nearby area, and we have management in place that can successfully operate this. I will reach out to you privately to discuss.

Sounds like you spent 15 yrs of hard work turning around the Park, time to reap your rewards. I went from flipping SFH’s decades ago to Park ownership which I really prefer. Your market and experience is likely different. I didnt care for the capital gain tax the govt took after all my hard work on the SFHs. Good Luck!

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I own a park in OH , email mhpquestion AT yahoo.com

Hi. Give me a call at (330) 426-9558.

Jay-E; since when are there NO CAPITAL gain taxes in the park business? Our last 2 1031’s moneys were placed into DG stores with a +6 cap gain and no management problems plus no taxes using deprecation of buildings etc. and when deprecation is gone sell. We are park owners but chasing markets that are ?? presently we change course. In the business 35 years and have seen similar markets and where the market has fewer buyers than sellers and sellers cannot find buyers we will reenter the market. I have repeated numerous times if you are a one park owner and have a beauty with a +6 cap we have the cash and close with a 5 day DD period—waiting for a call! When the one park owners disappear (as they will) and new entrant to this business try to buy from the multi park owners the negations will be difficult and good buys will be history . We have always been diversified (different kinds of investments) but only buy in areas we are knowledgeable and thus difficult to be burned out.

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Out of curiosity, what price points have you entered DG/Triple N deals? What’s your hold term and how’s management compared to parks?

Flipping homes involves short term immediate capital gains. Owning and holding a MHP much preferable. Thanks anyway.

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Generally pay with a 1031 but can be leveraged with 30% down and cash flow. DG stores can be as low as $500,000 for older stores and +$2,000,000 for new locations. The market is very fluid and can include many different types of businesses but NNN has NO owner management responsibilities, we generally visit the location once every two years and take a vacation business write off since one is at Pensacola, FL. Every month cash the checks and relax. There is no magic to NNN’s and be aware as in the Covid-19 some suffered. As in most businesses their can be a time of plenty and also desperation or just a smooth gentle money stream that is usually normal for parks. The large syndicators in SFH I believe are holding for long term and with a 18% rise in home values in one year that creates a nice war chest for more buying and paying no capital gains until a sale or none if a 1031 exchange. One policy we have that has guided us is only buy parks we would live in and avoid being a Motel 6 renting out MH’s.

We sell when we run out of deprecation and presently all properties are in states with no state income taxes. Yes we do get audited and just smile as we use the tax laws for our advantage.

@Rolf sorry to hear about your frustrations and experiences. I too have done all of what you’ve done - flipping and MHPs. Admittedly, my MHPs have been smaller. But, I will need to disagree with you on profitability but more from a long-term wealth position.

I’m not sure what terms you had at the purchase of this MHP here. There is always the opportunity to pass on the deal if its a wreck. We did this on a park in central SC recently. My partner saw a deal at an amazing price. And it was. Unfortunately, it would have taken wayyyy too much work to get it off the ground. I brought perspective, objectivity, and true due diligence. He just saw the positives and thought he would snap his fingers and we’d have a 15-17% cap rate park. It doesn’t work that way, Jack!

The issue with flips is you’re “continuously working” and always onto the next deal. Rentals, and specifically multifamily “continuously pay you.” In the case of MHPs where you only own the dirt (no POHs), its especially easy! I have a property right now thats paying me $950/mo positive CF (after all expenses). And outside of roads, trimming a few trees, and paying to have the grass cut, its so easy! Especially if there are no septics. After all, what damage can a tenant really do to the land?

The MHP land-only deal is something to truly consider. I wish you all the best

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Can you send me some more info vince@spearheadhomes.com