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Monthly Competition Winners! is happening in 3 days
Closing the year out with a bang
2 parks under contract with 2 more possible. 100 total lots in a prime msa. The parks are both broker deals brought to me by 2 doff brokers. Less than 5 minutes from each other. Mixed utilities at both, wwtp, oxi pond, well, city water direct, direct trash and dumpsters so a little bill back to clean up the expense side. Existing lot rent is 350 with day one at 425 in a 450-500 market. Low numbers of poh and high occupancy. 3.7m. So far this year I've closed on 5 parks. 3 more are in the appraisal process and should close in early October or early November. It's quite possible I close 12 parks this year if I can talk 2 sellers into seller carry. Both are open to it so fingers crossed. Total possible is 645 lots added this year. We've raised over 4m with another 1m probable by year end. I have bought 3 parks solely with personal funds and hopefully will add the 2 seller carry deals to that total. The rest are syndicated. This is a great business to be in whether you have one or 100.
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The right time to buy is now
I started my mhp journey in college 25 years ago. I made my plans, read books, went to seminars and bought bootcamp courses. Instead of buying, I built a business that made me lots of money but was a distraction from my goal. I helped a family member get into parks before I purchased one. The catalyst I needed was Ryan's mentorship program which is the foundation of this group and has been expanded by Michael into something far greater. My first park closed basically Jan 1 2022. I started with a 575k purchase which at the time I thought was a big deal. As of now I have purchased 21 parks in a little over 3 years. I'm closing in on 1000 active pads, 250 approved expansion pads and as of this moment I own 42m in income producing real estate. I make more money in 2 weeks (180k) than I used to make in a year. I'm an average to below average person in every area but 2. My work ethic and my ability to analyze risk to make quick decisions. You, more than likely, are better at me in almost every area of your life. So if you want to be in this game, make the move and buy. Rents go up, tenants rarely leave, shit breaks but not very often, money comes in fairly easily. Use this groups formula as your base and you WILL succeed. Take a step off the cliff...but know this, there is no cliff.
What a great Meetup at SECO! 40+ person Turnout!
Wow—what an amazing time we all had together at SECO this year! Like most in-person meetups, the journey - by plane, train, or automobile - always feels like a lot. But once you arrive, it’s always worth it. There’s nothing like seeing the smiles on everyone’s faces, collaborating, and finally putting a face and personality to the names we usually just see online. All MHP events are fantastic, but SECO is truly special. It’s where so many smaller operators come together - not just to talk business, but to enjoy life and connect with the genuinely good people who make up this industry. There’s a magic to being in person that you simply can’t replicate on Zoom - or even in a group like this. That’s why I encourage all of you to make it out to the next one - whether it’s SECO, MHI, NCC, or IMN. We’ll see you there! I'd like to thank Metron and Princeton Capital Group for Co-Hosting our Event! Thanks everyone who attended and made it special!
What a great Meetup at SECO! 40+ person Turnout!
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48 lot MHP. We own 4 other communities in the same market.
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Mobile Home Park Mastermind
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