Challenges To Overcome?
Wife and I have been thinking of buying a fixer upper for profit when we came across the mobile home opportunity. It is appealing to us because it seems easier to get started, and takes less start up money.
Have ordered Deals on Wheels and eargerly await its arrival. In the meantime we've been scanning the internet for info and driving through mobile home parks. Surprising how many have for sale signs up it our immediate area.
We're excited about the potential of the mobile home bus. and are ready to make a move. For this reason I really want to know what pitfalls may await us down the road. What are the biggest challenges when putting together these deals?
When talking to friends who've lived in parks they seemed to think it will be hard to fing a MHP manager to let us do business in their park. However, in the largest and oldest park in the area I've seen For Rent signs so I have to believe we could do bus. there. They've also said getting potential buyers to qualify for the lot rent may be an issue.
It seems defaulting buyers would be a problem and hassle, however also could lead to even bigger profits.
We are looking for a business for my wife to run from our home to replace her job. She dosen't make alot now, so payment coming in from 4-5 deals would replace her income.
So bring us back down to earth and let me know the biggest opstacles you've had to overcome. We do realize it will be alot of work.
Thanks in advance for all responses.
John
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