Join us on Wednesday February 13, 2019 to find out the ins & outs of mobile home park investing presented by an active investor in this space.
Mobile Home Parks are an alternative asset class commonly known for producing consistent amounts cash flow and a proven wealth builder vehicle for owners, operators and investors. J
Join us and you will learn:
- Why Mobile Home Parks?
- How to look for deals?
- Pitfalls and opportunities
- How to build relationships that open doors for deals?
- How to value mobile home parks?
- Doing the deal: Sale protocol, deal structure, negotiation and due diligence
- An overview to financial analysis and financial ratios – what they mean?
- How to build a portfolio part-time – where it make sense…
- Understanding hidden opportunities: Water Rights Ownership and other lucrative avenues
- Additional income streams – mobile home notes, storage, non-compliance, late and transfer fees
- How to increase property value by adding one mobile home to your property
- Management challenges and operational systems
- Creating steady cashflow month after month
Joe began investing in 2002 and since then he has been involved in multiple transactions. During the meltdown, he decided to stop flipping houses and to begin building monthly cash flow by owning and operating mobile home parks. Things were not easy at first, as his first mobile home park deal was a major 141 space REO turn around property purchased at the end of 2008. After lots of lessons learned…including a potential property rezoning notice from the City was incredible, but he and his partner were able to navigate through turbulent waters safely to shore. The second community was a seller direct 74 space deal, acquired on December of 2012 a “Turn Key” property that showed a profit immediately. After streamlining the operations the third 98 space MHP came along, also a seller direct deal and promised a great upside potential acquired on August, 2015. The fourth deal was seller financed on January 2016 with strategic asset allocation tax strategies. This property is a bit of a “Hybrid” as it has 68 mobile homes, 38 RV Spaces, four single family houses, two duplexes and one commercial building. On November of 2017 the first three properties sold for a premium and Joe was able to 1031 exchange into other MHP’s and Apartment Buildings and RV Parks giving him a true sense of passive income. Joe is the founder of The OC Investment Club – FIBI (http://www.ocfibi.com/) with 7700+ members. He often speaks about the asset class at local investment clubs, he was also invited to teach about alternative investing opportunities at a Bruce Norris sponsored event on September 8, 2018. Joe loves to mountain bike and to play soccer as much as possible.