[EDITOR'S NOTE: The full 15 module course was released last year. There is currently one course available if you want the freedom of having a property manger run your park for you, check out this video on how to find a mobile home park property manager.]
I am very close to releasing the first module of Mobile Home Park Classroom, which will teach you how to operate a mobile home park.
Mobile Home Park Property Management
You may be wondering why I am releasing a course on park management before I release a module on finding mobile home parks to buy.
Here’s why…
Few people know how to run a mobile home park really well… and this is where you will run into most of your headaches. It doesn’t matter if you are the property manager of if you are managing the manager from 1,500 miles away. This will make or break your decision to stay in the mobile home park business.
Without learning how to manage your property and pick the right tenants, I’d advise you away from investing in mobile home parks – for the sake of your own sanity.
Park Management Is A Key Determinant of Profitability
Here’s a fact: park-owned homes can greatly increase your ROI.
But, a lot of gurus out there will tell you that park-owned mobile homes are a nightmare and that you should get rid of them as soon as you acquire a park.
I actually agree with them unless you know how to find and fill your park with great tenants that will take care of your rentals.
You see, these gurus have experienced the pain of getting their rental trailers back in terrible shape. Filthy. Damaged…
Destroyed.
The difference between making a huge ROI on park-owned homes or just getting taken to the cleaners comes down to one thing – the quality of your property management.
The experts in Mobile Home Park Classroom have been perfecting their property management skills over the last 40+ years (…and they have developed them into procedures and systems anyone can learn and follow).
Why does that matter to you? Why should you care? Well, there are several people who can teach you how to buy and sell trailer parks. But…
Few people can teach you how to manage managers and manage parks as well as we can.
That’s why I’m planning to deliver the mobile home park property management module first.
It’s just that important.
{ 2 comments }
I am in process of closing my first MHP purchase. My wife and I previously built and managed a motel for 23 years. I am in process of evaluating software for MHP management and accounting. Also I will be replacing an old city supplied water system with individual metering. The park as been poorly managed and is run down, however a relatively new park manager appears competent. Please let me know what information you can supply and at what cost. Thanks
Hi John,
Congratulations on buying your first mobile home park – I hope close of escrow goes well. The first park Ray Ayers bought was very run down (think “red light district”) and he turned it into the best looking park in town, so I think you will benefit from the lessons we are working on.
I’ve been working day and night to finish up the Property Management Module of Mobile Home Park Classroom and we do cover software in Unit 13 (Managing Your Finances and Records). We will be covering new utilities and replacement utilities (individual metering/master metering, galvanized “black” pipe versus plastic gas pipe, water meters, water boxes, etc.) in a future Module that we will release after the Property Management Module, but I’m confident I can get the experts to answer questions in the member’s area.
We haven’t settled on a price yet, but we will probably open the first module up for enrollment in mid to late June. If you haven’t signed up for the newsletter, you will definitely want to do that so you can take advantage of some of the upcoming free teleseminar calls (conference calls) we will be doing with the experts.