I just filmed this video for you to discuss how to manage a mobile home park (or RV park):
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Right now mobile home parks are kind of all the rage, becoming very popular amongst investors who are finding out how how they can be such a lucrative investment, and you may be wondering how you can manage a mobile home park, because that’s a big piece of the puzzle.
In fact if you want to learn how to manage mobile home park than you really need to sit down and strap in because it is one of the most challenging forms of property management.
The reason for that is, you often don’t own the homes that are sitting in the park or parts that you own, and in some cases the part maybe in an area where it’s a lower income area where there are certain credit challenges or rental history challenges with the tenants that are applying to come into the park or that may already be in the park.
And even if it’s in a more upper income area, you’re still you’re still dealing with people and a lot of different personalities and people that own their own homes, and it’s really a juggling act.
A lot of people try to learn the business by simply jumping out of the frying pan and straight into the fire – I know we did.
We have three generations in the mobile home and RV park business. My grandparents, my parents and my brother and I have all been in the business with six parks and an apartment complex, property managers and I can tell you that before we figured it out it was an extremely stressful time. We use to sit around the dinner table after something crazy happened and or we’d get some crazy call and our way of of talking about was just essentially to say, ” There’s never a dull moment in the mobile home park business or the RV park business.
That’s because the real challenges to manage mobile home park properly there about 12 different areas that you really need to do well. You need to know how to advertise and market your park to attract the right people. You need to know how to deal with tenants when they’re initially moving in to create the right experience. You need to know what to do when tenants move out you need to know how to deal with contractors or maintenance personnel that are working in the park you need to know how to deal with maintenance issues.
You need to know about taxes and insurance and potential legal issues. You need to know about finances and what numbers and metrics need to be watching for your park to maximize profitability, and you need to know, if you’re an owner, how to find and hire and then manage the right manager.
You need to know… gosh, there are so many things you really need to know in this business and that’s what makes a big challenge and it’s kind of difficult to learn on your own. You can do it but the challenge is you’ll probably make a lot of mistakes and those mistakes sometimes can be very costly not just in terms of money but also in terms of the stress that you end up going through and that’s one of the reasons why I created mobile home park class.com.
After generations in the business, we eventually made a lot of mistakes, and then learned our lessons, and then refined those lessons and condensed them down into a very teachable format.
Using things like role-play videos where you’re simply like a fly on the wall watching the manager and watching a potential tenant call to inquire about space, or come in to take a tour, or to sign up and move into the park, or dealing with the large number of issues that come up in this business.
And we created all of that and condensed it down it’s mobile number classroom.com because we wanted a way to really create leverage…
You know, as an owner or investor, you’re not really looking to, unless you want to live in the park and manage the park (which we’ve done as well), you don’t really want to take your high-value time and then use it for low value activities…
So we didn’t want to do that, and frankly it becomes more and more difficult the more parks you own, so what we did is, we created this and condensed it down into this course, and then we continually refined it to where it is.
Now, we have a proven system to find, hire and manage the right property manager, and then we have this entire training system and we just say, “Here’s you’re login and password – just start going to the course , here’s the specific documentation like rental rates and other things that are particular to our park.”
And they really have almost everything they need and they don’t have to call us every every day or necessarily even every week – they just know what to do and keep us updated and it becomes very enjoyable thing and kind of fulfills this dream of of of owning a mobile home park that’s profitable but that’s also very low stress…
If you would like to know how to manage mobile home park, where to find a property manager and train them so they can manage your mobile home park, then I encourage you to go to mobile home park classroom.com right now and find out about the resources that we have there or click the link below or to the side of this video (which will also take you there) so that you can find a smart way and a path to really having an enjoyable business and an enjoyable [mobile home or RV] park.