In today’s Mobile Home Investing Podcast episode #10, I’m happy to bring you a co-hosting newbie to the microphone. Paul Brecht is here to discuss his first few mobile home deals inside senior parks. Due to Paul’s local hometown of Sarasota, Florida, retirement capital of the South, Paul is exclusively working inside senior mobile home parks. Paul shares with us his method to purchasing homes for FREE, repairing them and splitting the profits with the park.
Paul is not afraid of hard work, following through, meeting new people, and proposing Win-Win offers to help park owners. Paul’s purchase offers and relationships with parks came from necessity and clear thinking. As mobile home investors, we are here to help. Paul’s purchasing method of partnering with parks is unorthodox, but he solves seller problems and provides valid Win-Win offers.* solving seller problems is the very heart of real estate investing.
*This last sentence really epitomizes what real estate investing is to me; solving seller problems creatively to achieve a Win-Win common goal.
Definition: Co-Op or Tenant Owned mobile home park (noun) is a mobile home park with shares or deeds of land ownership within the park. Co-Op parks typically still carry a monthly or yearly maintenance/community fee, however the costs are much lower month as the land is owned by the homeowner and not rented. There is likely a manager, president, or committee of the park that can make decisions and allow you access. These parks may or may not be age restricted communities.
Paul’s Brillant Strategy: Partner with parks. Buy current vacant and damaged homes from parks for FREE. Keep homes in place and pay no lot rent until sold. Spend money and time to repair the homes. Sell homes and split the net profits with the park. Repeat as many as possible with multiple parks.
Over the course of this 16-minute podcast, Paul and I discuss in detail some of his deals and touch on just what takes place in his business. Any questions or further explanation you need clarification on please comment below.
In this show we cover:
- Working with resident owned park & co-op type parks.
- Getting started creatively with little money.
- Taking initiative to create Win-Win purchase offers with sellers and park owners.
- Listen in on Paul’s past few deals.
- Why Paul’s only woking in age restricted (55+) communities?
- What’s a seasonal mobile home park?
- Paul’s worst deal to date.
- How Paul buys his mobile homes for FREE?
- Tips on keeping closing costs low.
- and more.
