Mobile Home Park Mastery

Are mobile home parks just about “ripping off the poor”, or is there more to the story than that? In this second of a four-part series on “Breaking the Barriers” we’re going to take an honest look at the mobile home park business model and examine what the real impact is to the resident and community. It may just be that there’s more to the mobile home park industry than most people think.

Are our customers really “trailer trash” or is that just an unfair stereotype? In this first of a four-part series on “Breaking the Barriers”, we’re going to analyze the stigma against mobile home park residents and try to separate the real from the false and uncover what created these stigmas in the first place. Since the mobile home park industry is predicated on our customers, it’s important to break through these myths to understand more fully the customers we serve.

Real estate is all about “location, location, location”. So a bad mobile home park location is a disaster for any buyer. In this fifth and final episode in our series on “Lessons Learned from Failed Parks” we’re going to discuss the worst markets for mobile home park success and how to identify and avoid them. We have many stories of bad markets – both observations on others as well as our own – and we think that any buyer who avoids the “location” issue is just asking for trouble.

Real estate leverage is an essential part of mobile home park investing. Without it you cannot hit the typical 20% cash-on-cash yield. However, what happens when the buyer uses the leverage improperly? In this fourth of our five-part series on “Lessons Learned from Failed Parks” we’re going to examine how some mobile home park buyers set themselves up for failure by agreeing to lending terms that are impossible to conquer. If you want to keep your credit and your investment dollars, you’ll want to learn what these failures are and guard against them.

Even the best mobile home park will not succeed with bad management in place. In our third of a five-part series on “Lessons Learned from Failed Parks” we’re going to be discussing how a bad manager can destroy your business and give some real-life examples to hammer home the points. We’re also going to review some ways to prevent these catastrophes. If you want to make money with a mobile home park, then choosing or retaining the wrong manager virtually assures you of failure.

When you’re unable to attain the necessary occupancy to succeed, the result is failure. In this week’s Mobile Home Park Mastery Podcast Series we’re on the second part of our five-part series on Lessons Learned from Failed Parks, and we’re focusing on occupancy disasters and what can be garnered from these setbacks. As any business is contingent upon hitting revenue targets, mobile home parks are no different, but there are also complications, such as lender requirements, that can turn even small occupancy fails into bigger problems. As history offers a glimpse into the future, it’s important to understand the risk of occupancy fails to stay clear of them going forward.

Webster’s Dictionary defines “failure” as the “lack of success”. So it’s the exact opposite of winning. But many mobile home parks fail for that very reason: the owner’s do the exact opposite of what common industry doctrine would suggest. In this five-part series on parks that have failed, we are going to dissect what went wrong and look for commonalities in poor park selection, management and financing stewardship. And in this first segment, we’re going to review how choosing the wrong type of park can consistently lead to doom – and there’s no reason to put yourself in that position if you just use some common sense and good due diligence efforts.

Tornadoes. Hurricanes. Fires. Mobile home parks are not immune to natural disasters. So how do you deal with them? In this final segment of our six-part series on “Dirty Jobs” we’re going to discuss the different types of disasters that can happen in a mobile home park and how to clean up the mess and restore order to your mobile home park investment. In a world in which things can go bad quickly and without warning, it’s important to know how to deal with worst-case scenarios.

How far are you willing to be pushed around? That’s a question many mobile home park buyers and owners have to ask themselves sometimes. In this fifth segment of our six-part series on “Dirty Jobs” we’re going to address the A to Z of dealing with governmental agencies that refuse to play by the rules. Learn the insider secrets that $500 per hour attorneys have taught us regarding fighting for our rights and doing so in an efficient and 100% legal manner.

Nothing sounds messier than dealing with water and sewer in a “trailer park”. However, the reality is that it’s something that all park owners can easily deal with if they know what they’re doing. In this episode of our six-part series on “Dirty Jobs” we’re going to review the modern strategies on addressing water and sewer systems and repairs in mobile home parks. Although nothing sounds more unpleasant than digging up a pipe in a muddy field, the truth is that it’s not a frequent occurrence if you obey the strategies that other owners have figured out from experience over the past half-century.