Tuesday, April 6, 2010
We found this tool to be very helpful in finding cities couties and zip codes. http://www.zipcodeguy.com/blog/free-zip-code-database/
Monday, February 22, 2010
Listed Colorado River Mobile Home Park For Sale by MHRV Advisors, the leading mobile home park brokers is proud to present this unique opportunity to purchase a large, well located Mobile Home Park for sale.
Friday, November 27, 2009
Mobile Home Park The mobile home park loan market has changes over time. Prior to 1990 many of the mobile home park loans were seller financed but most sales were all cash. But, if parks were large and of high quality there were loans comparable to large office and apartment buildings from. Only in the late 1990's to did smaller banks lend on parks. But, often those loans were at a higher rate or stricter terms than other types of commercial real estate loans. As of 2009 the market has shifted once again as credit market tighten. Ironically the maturing park loan segment is probably the safest loans that were done from 2000 to 2009 but the overall turmoil in the lending world has seen a reduction in park lending. This is from the banks simply going out of business, being forced to stop lending by the Fed or new underwriting restrictions that make loans in general hard to place. Unlike other types of commercial loans park loans are rarely re-traded or pooled. This is another reason they have remained stable but because loans can not be pooled they must be portfolioed. This makes it hard for the bank to resell if the bank runs into liquidity issues. It’s a catch 22, banks can make more interest on a much safer loan but is less liquid for the banks use.
Let start out with what is not true. There seems to be a lot of misinformation about how mobile home parks are valued, how they are sold and how to purchase them. Somehow the real estate seminars and how to books that have been around for houses and apartments are making their way in to the mobile home park arena. These rehashed themes and techniques seem "New" and "Innovated", but in reality they are old concepts repackaged to look new because they claimed to be in untapped or out of the box areas. Until now the park industry has been able to avoid this type of attention take a look at http://www.mhrvadvisors.com/ and you will see there is a very sophisticated.
I am not, repeat not, trying to discourage anyone from investing in Mobile Home Parks. However, I think these seminars and books to a disservice to energetic and motivated people to buy books and attend seminars designed to sell a concept and not really make you money. First is the concept that park owners are some kind of relic that doesn’t know what they have. Wrong, park owners own parks because they know exactly what they have. Second they know what a lease option is and the seminars and books never tell people what an option consideration is in a master lease scenario. Basically it is like a deposit for a sale, security so the property isn't "Juiced" then leaving the owner to take back a bad asset.
It doesn’t make sense that a property owner let a lone a park owner would elect to give up a cash flowing property for zero down and give a buyer a win, win win. Most of the seminars spend most of their time justifying how beneficial this is to the seller somehow even helping them. Step a few steps back and this mythical means of purchase starts to look more and more like a sales technique for books and seminars. Third, park owners and park brokers know exactly what they are doing and just because a seminar claims to tell you some snake oil way the park industry works they are wrong. Like any financial market there are well establish protocols. There is very good information and ideas in many of the mobile home park seminars and books. But keep you radar on and if some trick of the trade seems wrong ask me here. Or visit http://www.mhrvadvisors.com/mobile-home-parks-for-sale-&-rv-parks-for-sale-listings-in-ca-az-nv.html