Mainly because they don’t understand the process to make/keep a mobile home park profitable.
Most people feel that rental units in the park are the answer, but they soon find out how tough that business can be.
I like the fact that mobile home parks are not “prized investments” for most real estate investors…it just leaves better deals out there for those of us who understand the business.
Steve
Its a dirty job, but somebody has to do it!!! Loopnet is wonderful but after DD your going to find the income is always overstated, expenses understated and deferred maintenance definately deferred for the next owner. This is exactly what a value investor is looking for…opportunity!!!
What a Biz!!!
Most people wan’t it easy, they don’t want to get dirty. Sites like this are blessing to the folks like me who are willing to put thier ego on the shelf, roll up our sleves, GOTC and go to work. There will always be a niche for people who want to work.
Hey… now that is a shot below the belt… GOTC does not aply here in the literal sence anyway… Lonnie deals REQUIRE you to GOTC, but MHP’s allow you to stay on the couch. I have found my BEST deals sitting here on my couch in my undewear. I like staying on the couch, but make sure you are working. The probable with the couch is most people have a tv as the focal point of the room and it is too easy to turn on, so that couch gets a bad rap, but myself I have the laptop with the highspeed internet and 4 cordless phones at my fingertips (I can kill 3 batteries in a day so 4 is needed now). Throw the TV out the window and get rich wiht this. I sit here laughing because I am a hipocrit, I swore I would never have a tv in the living room, but we broke down and bought one for some of the good stuff that is on tv. It sits in the corner on the floor COVERED with some fancy drapy thing and the best part about the tv is it takes about 15 minutes to heat up and even then it only shows the top half of the screen, there are not many people LOOKING for a tv like this, but I was it is perfect, it is VERY inconvienct to turn it on, but with some planning I can watch the tube for something good. I would have paid a premium for a tv like this, but I didnt have to because one mans junk is another mans treasure. Now that I can afford that 60 inch you couldnt give it to me.