There are probably few pieces of legislation in history that are more flawed and harder to understand than the Safe Act. And what was designed to safeguard average Americans from the abuse of the mortgage industry has actually turned into a costly, inefficient mess that will no doubt result in nothing more than removing a vast amount of available credit from the market at the worst possible time. Read more »
Wachovia Bank has foreclosed on Homestead Mobile Home Park, in which it had a $9.8 million mortgage. Homestead Mobile Home Park is located in south Florida. Read more »
What do you get when you cross two industry experts who have owned and operated over $100,000,000 of mobile home parks with two guys who really enjoy teaching? The result is the Mobile Home Park Investing Boot Camp, taught by industry veterans Frank Rolfe and Dave Reynolds. By popular demand they are holding the event in Dallas, Texas on April 30th to May 2nd. Read more »
Two lots have come on the market in the Montauk Mobile Home Park in Montauk, Long Island. The 199 lot complex became a condominium park in 1976, when 152 existing residents banded together to buy the park out of bankruptcy. What makes the park unique is the 900 feet of beach frontage on the Atlantic Ocean. And not just any beach, but what is considered some of the finest surfing in the U.S. Read more »
Residents have started to return to Silver Village Park, in Silver Creek, New York, after a devastating flood washed away the entire 35 lot mobile home park.
“It’s a miracle that everyone got out” said resident Barb Amrozowicz. “The girl next door to me said “you’ve got to get out”. When I stepped down off my bottom step, it was over my knees.” Read more »
The SAFE act is new federal law designed to assist with the recovery of America’s residential housing market. It is intended to modernize the Federal Housing Administration, reduce foreclosures, enhance consumer protections, and reduce mortgage fraud by establishing minimum standards for the licensing and registration of state-licensed mortgage loan originators. Read more »
The greatest misconception about financing Mobile Home Parks is that the lender who finances the park will also finance the homes. The fact is that nothing could further from the truth since the value of the homes are of no value to the lending institutions. The reason is that the homes depreciate in value, people tend to trash them when they leave, and even if the tongues are cut off, they can always be welded back on and the home Read more »
Just about anybody who watches late night TV, or receives email, or reads, knows that there are hundreds of people promoting concepts to make money in single family homes. “Buy foreclosures”, “profit from short sales”, “wholesale houses” – there are at least 1,000 different concepts. Unfortunately, the only people who actually make money in many of these ideas are the promoters. There are so many people chasing after single-family homes to invest in that the market is beyond saturated, and any profitability has been extinguished. Read more »
Tags: mobile home park and US Recession, mobile home park business, mobile home park business operations, mobile home park evaluation, mobile home park industry, mobile home park investing, Mobile Home Park Loans, mobile home park opportunity, mobile home park tenants, mobile home vs. rv park
Uncategorized | Frank Rolfe | 
February 11, 2010 5:48 pm | 
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, seller finance trap mobile home park
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 | 5:44 pm | Comments (0)
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 »
