Dan Gibson has been in real estate for the last 7 years and around 4 years ago, he got into mobile home parks with his brother. Dan currently owns two parks in the St. Louis area and he has a third one under contract. Dan answers all of your burning questions about mobile home parks and the kind of cash flow they generate on this week’s episode!

Key Takeaways:

• Why do mobile home parks have such a bad stigma?
• How did Dan get started in this business?
• What are some of the benefits of owning a mobile home park?
• Dan discusses some of the challenges that might come up with mobile parks.
• Look for properties that range from 20-100 lots. These parks are often too small for the ‘big guys’.
• Where are these mobile homes located?
• A quick rule of thumb to find out whether you have a good location is to see if there’s a Walmart nearby. That’s a good sign.
• How did Dan accidentally buy his first mobile home?
• Dan discusses what his expenses are for the mobile home and how much cash flow he walks away with.
• How much time, on average, does it take to manage a park?
• How did Dan find his second park?
• How can you find your first deal and get started in buying mobile parks?
• Dan shares what are some of the key things you need to look for when buying a park.
• Can Dan do this business virtually?
• How does Dan find his deals?
• Dan breaks down the due diligence process.
• Dan has compiled a quick PDF for you to download! Check the show notes!
  
  

Mentioned in This Episode:

I would greatly appreciate an iTunes Review :-) Flip Empire on iTunes

Email Alex: Alex@FlipEmpire.com

Grab your "Top 5 Reasons to Invest in Mobile Home Parks vs Apartment Complexes" PDF here: FlipEmpire.com/trailers

Connect with Dan Gibson to learn more about Mobile Home Park Investing here: Trailerparkbros.com  and/or follow them on Facebook: Facebook.com/trailerparkbros

Search Mobile Home Parks for sale: Mobilehomeparkstore.com

Tweetables:

“You don’t realize how many mobile home parks are in your area. They’re usually tucked behind something.”

“Once you get your mobile park under contract, it’s a full 2-3 month due diligence process.”

“Managing a 30--lot park usually takes between 3-5 hours a week.”

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