Micah
April 12, 2013, 6:51am
1
Hi folks
Just starting out in the MHP world. You’re site is great!!!
I’m selling my business and looking to invest in a park in Texas.
What’s got me shaking in my boots is most parks are WAY over priced.
I am going to look at a park this weekend that seems reasonable but it is almost
100%POH.
It is fairly new with better than city grade roads, city water and sewer.
It is a fairly small park but it only 1/2 developed.
One of the few things I’ve learned while researching this new venture is banks
don’t want to lend on properties with a lot of POH
Does that mean they want more than 20-30% down?
I could prob swing 35-40 and immediately get 7 more rentals on their empty lots
giving me approx 26K per month?
One more question, what is a reasonable offer under asking price? 25-30%?
Sorry I sound so green, it’s only because I am. LOL
Have you read any of our books? Your questions are not crazy, but don’t invest your money until you have a really good handle on the business. The park you are describing sounds like a potentially bad buy. Don’t buy anything at this point, until you know what you’re doing.
Seconded.
Attend Frank & Dave’s next bootcamp - it’s in Baltimore later this month, and is advertised here on this website.
The basic rule of life is ‘ready, aim, fire’ not ‘ready, fire, aim.’
To your continued success,
-jl-
Micah
April 12, 2013, 4:40pm
4
Thanks and yes, I’m purchasing the #2 bundle now.
Are there in courses coming up in the Houston area?
Yes, San Antonio at the end of the year.
Hi Frank,
I 've purchased your 10/20 book, coming to the U.S from June 7 to June 19. Might there be any boot camps or bus trips in this period
scottty
Unfortunately, the only one scheduled in the Boot Camp in Denver on 19 - 21. However, Brandon might have a Bus Tour during that period – he hasn’t given me the schedule on that yet.