Newbie in Florida

mobile home university
1

We are new to mobile home park investing. We attended the Boot Camp in Orlando in January and it was great. Unfortunately, my wife and I still have day jobs. Also, we need to stay in the $500,000 to $600,000 price range. When we first looked at mobile home park investing, we thought we would be looking at parks in Florida and possibly Georgia. Frank said they are afraid of Florida. I don’t expect to find a park down the street, but I would like to stay within driving distance. We are near Sarasota on the southwest coast of Florida. I am hoping there might be someone on the forum that has operated parks in Florida or Georgia that might be able to offer some much needed advice. Wells and septic systems seem to be common in Florida. When my wife and I left the boot camp we both agreed we wanted city water and sewer. We are eager to get started, but we don’t want to make a huge mistake. We could possibly look in Alabama, South Carolina and North Carolina. Should we avoid Florida parks? Are any states in the southeast better than others for owning a park.

Thanks,

Steve

2

Steve,

I’ve only owned 1 park. I am working on another. Some good advice is don’t be trapped by your location. My first park was across the country and it worked out fine. People always ask me why I bought a park way out there. I just answer because that’s where the best deal was. Pretty much anywhere in the country is just a flight away. 400-1000 miles doesn’t really make a difference. Course if you happen across a great deal down the road buy it. But don’t stop looking if you don’t.