I understand from corey and others the importance of good management. Forums and articles seem to be refering mostly to onsite management. I don’t understand how a MHP can afford an onsite manager.
Example: MHP with $200,000 gross income @ 5% management company fee is $10,000.
How can I find an onsite manager plus management expenses for the same price.
On a similiar topic - Should I be wary of Management companies?
Thanks,
New investor Dan
You won’t…
Dan,
I would skip the offsite manager. You will not find a management company that will look after your property better than yourself. You need to manage the property using an onsite manager to maximize results.
I would strongly recommend a “turn key” mobile home park for long distance ownership or a really strong entrepreneur (person that is part owner using sweat equity that is onsite day to day) if the park is a “turn around project”.
Corey
Dan, this is just an idea, but if you had an onsite manager who also could promote the park and new home sales, what a plus!
Mimi