I have $0 dollars into my 2nd deal (a 12 unit). I presented the deal on the Deal Deep Dive calls on Tuesdays, before I had finished presenting on the call I had 2 people text me saying they were interested in being partners and sent proof of funds. I sent one text to another person I know who has some cash sitting on the side and he said hed fund the whole $300k if he could be the only partner. Took me all of 5 min to raise the capital. Everyone likes to make money…if you can show people how you are going to make them a bunch of money and just as…if not more so….how you are going to NOT lose their money, then raising capital takes care of itself.

If this is 20 pads for a mobile home park in the Pacific Palisades overlooking the ocean.... then yes its a great deal.....if it's 20 pads located in the ghetto in Oakland or some back woods a 2hr drive just to get to the middle of nowhere, then maybe not. Your ROI is a tad low when compared to other investment opportunities, which is fine for day one....but you'll want to make sure you can force value by doing things like capital improvements so you can raise rents. One key thing to know is what is the market cap rate (not the same as your deal cap rate) for MHP in your area. And what is the top fair market rent for your comparable units/pads. If you have room to raise rents and you can force appreciation.....and you can justify the purchase price considering the upside potential. Go for it.

Where in PA???

Ah…I have looked at more than a few deals there. There are some workable deals there for sure. Send me what you have. [email protected] Its an area I am interested in but is outside the range my team is willing to travel to for day to day operations.

@Bill Abraham Yes thats where I see a lot of mentees get stuck….grind through the uncomfortable part. Most people stop reaching for a goal the minute the going gets uncomfortable. Dont let that stop you. The Tuesday calls are the perfect “Safe Space” to work out what to do and say when working on a deal. If you fail we are all there to provide a soft landing and help you figure out what will work better next time. This is a great environment to learn and there is phenomenal support once you do find a deal and you want to jump on it!

@Jeff Lewis Hop on the mentor calls. Go find deals on crexi or loopnet and present them on the tuesday deal deep dive calls. I spent 6 months lurking at the back of the class with my camera turned off and not participating because I did not want to look like an idiot if I made a mistake. Once I realized that the Tuesday calls are the perfect classroom environment to make those mistakes, with all the support and encouragement, I started to present deals every week. Within 3 months I had found my first 9 unit and closed on it. Push through the slight discomfort when learning something new….once you are proficient the deals will come fast!!!

@Matthew Wang I fully support getting into shape…round is a shape too right? I am in great shape then!!!!