Right now a new single wide 16 x 80 plain Jane mobile home would cost you about $70,000 delivered. I buy them all and for under $10,000 sell them, charge them $430 a month and repeat. Sometimes I let them pay at least half and the balance and $1000 per month increments plus the $430 lot rent. If someone’s better at this than me, I would love to meet him/her.
When I bought my first part by assuming a foreclosure for $110,000 lot rent was $100 per month. Now rent is $430 per month and I get 3 to 4 calls per week trying to buy them at four to $5 million for this particular one
Wish I saw this before I bought mine but still is a great investment….just had new electric and water done….this year I should be ready to move people in….
BTW, the ROE is ridiculously high compared to an apartment complex. I’m responsible for where the water comes out the ground and where the sewer goes back into the ground the home is theirs to maintain.
House is the tenants property . Think of a scenario where one pays for parking their car in your garage and stops paying. Think small claims asset seizure once judgement is won etc
Thanks for video, I was looking at this as an investment. What type of tenants rent in mobile homes ? Consider you have to ; buy the home , then pay land rent, utilities, etc. You can rent an apartment for less .
Our park has mostly people that can't qualify for apartments. We are on a month to month leasing system so it's easier to take possession of property. Demand stays high because of the affordability. We are always at least 90% occupied with a waiting list to sign new leases.
Above it says gross $600,000 a year, I had an offer for $12 million for park does grossing $96,000 a month. I laughed and told them I could talk mobile home parks all day but I’m not selling any. Which brings me to what’s my next best option for the proceeds, I don’t know one that’s legal.
Sr.ken. I’m 20years of age and I’m still a student I really like real estate and I’ve got no cash to start the investment in real estate and I believe my parents also will not really help me on this bcause they’ve the poor dad mindset, so I’m alone on this one. My plan is to take a long term bank loan so i by the asset(two badroom) house in a strategic place than I’m sure if a rent it it’s going to generate income, so since I’m alone on this it’s very risky and risks are good bcause I’ll learn from it, and it’s going to be a very big step for and since you’re in this path for long I’d like to know if I should take this big step or if I should reevaluate this plan or if I should try it sr.ken!!thank you
Sir Ken,..I quit my job, to start my own business but it's not work...I try to start with no money in my pocket today and I had dept to pay every month.. And today I start selling in other people property to make a commission on the every deal... Can you advice me Sir? I want to continue to develope my skills in entrepreneur ? Sir Ken I want to build my own assets,..how ?
Right now a new single wide 16 x 80 plain Jane mobile home would cost you about $70,000 delivered. I buy them all and for under $10,000 sell them, charge them $430 a month and repeat. Sometimes I let them pay at least half and the balance and $1000 per month increments plus the $430 lot rent. If someone’s better at this than me, I would love to meet him/her.
How do you buy them for under 10,000? You will be buying MH's that are 30-40years old.
Is that a good investment?
Great interview! We own mobile home communities in several states and the details in this video are truthful and accurate.
When I bought my first part by assuming a foreclosure for $110,000 lot rent was $100 per month. Now rent is $430 per month and I get 3 to 4 calls per week trying to buy them at four to $5 million for this particular one
Great video! I agree, it’s a market that is almost unspoken of. I would like some mentoring on this topic please.
Loved this.
Wish I saw this before I bought mine but still is a great investment….just had new electric and water done….this year I should be ready to move people in….
Your rich!!
Loved this thank you Guys
BTW, the ROE is ridiculously high compared to an apartment complex.
I’m responsible for where the water comes out the ground and where the sewer goes back into the ground the home is theirs to maintain.
Excellent...!!! Thanks again 🖖
Thanks so much for watching and commenting Sal!
Does the city help you install the roads or how does that work ?
If you have a mobile home tenant who owns the mobile home and stops paying rent on the lot that you own. how do you evict them?
House is the tenants property . Think of a scenario where one pays for parking their car in your garage and stops paying. Think small claims asset seizure once judgement is won etc
Awesome Information! Exploring this potential asset class
Extremely valuable content Ken. Thanks
Too bad I didn't watch this two years ago. Still great information to have.
Build apt... whats a development deal look like compared to your traditional (for Ken) multi-unit apt complex deal?
great job with this! thank you
Thanks for video, I was looking at this as an investment.
What type of tenants rent in mobile homes ?
Consider you have to ; buy the home , then pay land rent, utilities, etc.
You can rent an apartment for less .
All types of tenants! People who want a private yard that you won’t have in an apartment.
Our park has mostly people that can't qualify for apartments. We are on a month to month leasing system so it's easier to take possession of property. Demand stays high because of the affordability. We are always at least 90% occupied with a waiting list to sign new leases.
Above it says gross $600,000 a year, I had an offer for $12 million for park does grossing $96,000 a month. I laughed and told them I could talk mobile home parks all day but I’m not selling any. Which brings me to what’s my next best option for the proceeds, I don’t know one that’s legal.
Can I have a million dollars ?
Seems like a potential great investment but has way more hurdles compared to more traditional methods. Oh well big risk big reward
Sr.ken. I’m 20years of age and I’m still a student I really like real estate and I’ve got no cash to start the investment in real estate and I believe my parents also will not really help me on this bcause they’ve the poor dad mindset, so I’m alone on this one. My plan is to take a long term bank loan so i by the asset(two badroom) house in a strategic place than I’m sure if a rent it it’s going to generate income, so since I’m alone on this it’s very risky and risks are good bcause I’ll learn from it, and it’s going to be a very big step for and since you’re in this path for long I’d like to know if I should take this big step or if I should reevaluate this plan or if I should try it sr.ken!!thank you
surround yourself w likeminded people
Find yourself a mentor to help guide you through the process. Good for you to be thinking this way at an early age. Best of luck!
What state does a mobile home cost 42,000.00
I live in TX, here you can buy it for this much
Texas. Is that a lot?
Double wide probably, with appliances included
90% of the theories I heard just now are inadequate.
If it was easy, everybody would be doing it and you'd have to pay 3% cap rates.
Sir Ken,..I quit my job, to start my own business but it's not work...I try to start with no money in my pocket today and I had dept to pay every month..
And today I start selling in other people property to make a commission on the every deal...
Can you advice me Sir?
I want to continue to develope my skills in entrepreneur ?
Sir Ken I want to build my own assets,..how ?
Bad idea!! You screwed up!!
Start with no money in pocket? Not a good idea.