References for new investor how to creatively finance mobile home park purchase

General Real Estate Investing
1

Hello

I am a new investor. I started with Ray Alcorn’s books on comercial rea estate and dealmakers guide to mobile home parks. They are great!! I have used the books and now I inquiries on several properties. I have two other partners and we are looking for materials on structing deals. Can anyone give us some recommendations?

Thank you in advance

YOgi

2

Without specifics, it is kind of hard to give you input on structuring deals and I don’t know of any books that offer specifics on deal structuring.

But in general, it is best if you can get the current owner to help finance the deal as much as possible.

In the end, the numbers must make sense to you.

Regards,
Patti Porter

3

I think the poster was asking for recommendations on reference materials; not recommendations for a broker. In fact I don’t think a deal was even mentioned that you would be able to “do”. LOL. Your not making a very good name for yourself Lanier.

4

no i wasnt meaning i can do the deal i have a friend who has some material and also a list of available financing if he needs it.i do not deal with mobile homes but my friend is a investor in central florida and he went to a siminar that taught him how to make great investments with mobile homes as well as pre fab homes.the information he has is great i will post it if it will be of any benefit.

5

Absent having the existing owner carry financing, I would look to take on an equity partner that is already in the mobile home park business.

Not only would they be more likely to invest (people in the mobile home park business are kinda cultish in my opinion about owning them, probably because they are so profitable), but having an experieced partner, when your a novice can be a healthy investment.

Finally, if you found a partner (im offering) and they thought the deal didnt make sense, that should be something to consider when evaluating the deal.

6

Clayton Bank & Trust offer a program for financing both the homes and MH park. Jim Clayton sold his company to Warren Buffett for 1.7 billion dollars. He understands the financing game as well as the Mobile Home Park world. Most lenders are scared of mobile homes and mobile home park purchase.

The information is under financing. Steve Waite is Clayton Bank & Trust’s national representative.

http://www.mobilehomeuniversity.com/mobile-home-investing-resources.html

I hope this helps!

Matt