The owners of Napa Olympia Mobilodge in American Canyon, California, are suing the city to cause it to convert the mobile home park from seniors only to an all-age community. In 2006, owner Ken Waterhouse announced he would lift the age restrictions at the park. And it has been nothing but posturing, city measures to block the conversion, and lawsuits since. Read more »
Tags: 55 + Mobile Home Park, mobile home park and US Recession, Mobile Home Park Bankruptcy, mobile home park business, mobile home park business operations, mobile home park city inspectors, mobile home park investing, mobile home park opportunity, mobile home park tenants, Senior Mobile Home Parks
mobile home park investing | Frank Rolfe | 
March 26, 2010 11:08 am | 
Comments (3)
By popular request of our friends from Texas, Oklahoma, Louisiana, Arkansas and surrounding areas, we are taking the Boot Camp on the road to Dallas on April 30th to May 2nd.
If you have been waiting until the Boot Camp got closer to home to save on travel cost, here’s your opportunity. Read more »
Tags: mobile home investment, mobile home park and US Recession, mobile home park business, mobile home park investing, Mobile Home Park Loans, mobile home park opportunity, mobile home parks marketing, mobile home parks rules
mobile home advertising, mobile home park, mobile home park business operations, mobile home park investing, mobile home park news, mobile home park ratings, mobile home park selling | Dave Reynolds | February 11, 2010 5:44 pm | Comments (0)
The Department of Environmental Protection has fined a Harrisburg, Pennsylvania mobile home park owner $123,570 for allowing sewage from his treatment plant to discharge into a nearby stream.
Frank Perano, the owner of Dauphin County Mobile Home Park, has allowed repeated cases of discharge from his over-loaded treatment plant. Read more »
By Frank Rolfe
Some mobile home park buyers have this erroneous idea that the goal is to buy a great looking asset. They even rate the parks they look at based on physical appearance. The star system is a good example. Most people think a five-star park is always superior to a one star park. However, the only real star system they should consider is which park is a superstar on cash flow. Because at the end of the day, all that really matters when you own a mobile home park is making money. Parks that make money are great, no matter how ugly they are, and parks that lose money are dogs, despite how cute their entry may be. And, as a general rule, the prettier the park, the uglier the cash flow. Read more »
1.There has always been and will always be a need for affordable housing. The typical mobile home park is just thatÖ affordable housing.
2.It is typically accepted that the average operating expenses for a mobile home park are usually around 35-40% of the gross income as compared to apartments which have in the 50-60% expense ratio. One of the biggest advantages of mobile home park ownership is not only this decreased operating expense margin but the reasoning behind it. Read more »
You only need one mobile home park. That’s all you need to create a sizable asset and a consistent source of income. That’s assuming you buy it and operate it correctly.
There has not been a better time to buy that one park in the last decade. Due to problems in the commercial real estate lending market, prices for parks have plummeted over the last six months. Desperate sellers are dumping their parks at prices far less than construction cost. Just look at the prices on the site. Notice how many sellers have written on their price “must sell”, “desperate”, and “all reasonable offers accepted”. Read more »
excerpt from Mobile Home Park Investing, by Dave Reynolds
I want to know how many lots there are, how many are occupied and paying, what the lot rent is, what expenses the owner is paying, and who is responsible for the water lines, sewer lines, and roads.
A good rule of thumb that I use to start with is that I take the number of occupied spaces and multiply this by the average monthly space rent and multiply this by 70. Read more »
Written by Frank Rolfe and Dave Reynolds, MobileHomeParkStore.com, LLC
There are a lot of books out there extolling the financial benefits of buying mobile homes for purposes of renting them out. DON’T BE SUCKERED INTO THIS WITHOUT GETTING THE FULL STORY. These books generally leave out three important problems that turn any proposed economics into bankruptcy.
They are: Read more »
Why leases with an option to buy may be a better way to go for sellers and buyers. Instead of an outright purchase of a Mobile Home or RV Park, a lease with the option to buy can make more deals happen. Here are some benefits that often occur in these type transactions:
Seller Benefits:
1. Instead of selling a property with seller financing, when a seller does a lease option Read more »
After 10 years of helping mobile home and mobile home park investors buy, sell and operate their mobile home park, MobileHomeParkStore.com will be having it’s first ever seminar on April 12, 2008.
Frank Rolfe will be teaming up with Dave Reynolds to conduct this live mobile home park bus tour in Dallas, Texas. Unlike the typical seminar where you sit in the room and wait to get pitched product after product and walk away with a hole in your wallet and sketchy information, Frank and Dave will be doing something a little different. They will be hopping on a luxury bus with no more than 50 serious mobile home park investors and visiting mobile home parks all over the Dallas and Fort Worth Metroplex. Read more »
