Hello, welcome to my podcast. Our guests today have a great cash-flow thing going on with trailer parks. That’s right, trailer parks.
Nick and Dan work together with their father near St. Louis, but in Illinois.
The Gibsons also participate in three local Mastermind groups. Most of their deals come from networking with these other active investors.
After they’d gathered 25 to 30 standard rental units, a friend told them about a trailer park that was for sale with owner financing. They bought it after just 1 meeting with the seller.
Now they own 2 parks and have 2 more under contract.
Residents pay lot rent, which includes water, sewer and trash costs. The goal is to have all residents living in homes they own. The Gibsons accomplish that with lease-to-own options.
Listen and learn…
- Mobile homes require less maintenance, lower taxes, lower insurance costs
- Warren Buffett is involved in the mobile home industry; parks and manufacturing
- The stigma attached to mobile homes is an advantage
- 1 park inspection (before the deal closed) uncovered meth lab damage
- Mobile home parks are just about recession-proof
Mentioned in this episode:
- Joe’s podcast on iTunes: Real Estate Investing Mastery Podcast
- Podcast Hotline: 636.255.8815
- Joe’s Coaching Program: Joe McCall Coaching
- Mobile Home Park Store
- The Gibsons on Facebook: The Trailer Park Bros
- Get Wholesaling 101 Mindmap: text ‘Flip’ to 313131
- Bonus: Investing in Mobile Home Parks
- Filthy Riches by Larry Goins
- Nick and Dan on Tom Krol’s Wholesaling Inc. podcast, episode 121
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