I just released a new course that will teach you mobile home park management step-by-step (aka “How to run a trailer park”) and it’s called the…

Mobile Home Park Management Monthly Mentor Program or MMP

Many of the videos we filmed for the course were done from a “fly on the wall” perspective, which makes it incredibly easy to just watch what we do and then put it into practice…

You literally get to sit in the office with us as we rent spaces, answer calls from prospective tenants and tour park-owned homes.

We developed the information in the course over the last 35 years as mobile home park investors and managers. My family now has 3 generations in the mobile home park business and after living through some extremely frustrating experiences with bad tenants, maintenance issues, and empty spaces, they really refined what they were doing into a science that works.

That’s what I share in the Monthly Mentor Program – what they do, why they do it and how they do it….

Because life is too short and I’d rather you do what works as soon as possible so you (and your family) can enjoy life.

If you want to learn mobile home park management step-by-step, check out the Monthly Mentor Program.

The 15 Unit Mobile Home Park Property Management Module

If you like the idea of being a mobile home park investor but want an on-site property manager to run your park for you, then go and watch this short video right now to learn how you can spend your time doing what you want to do while someone else runs your park for you.

In my last post, I mentioned that one of the Mobile Home Park Classroom students had come up with a great idea – to offer Unit 14 from the course to you in case you didn’t make it into the first class (which is now closed).

Click here, watch the video, and find out how you can get access to Unit 14 right now.

Like the Property Management Module, I’ll probably limit this by pulling it off the market soon, so check it out now if you want to learn how to find a superstar on-site property manager to run your mobile home park for you.

Mobile Home Park Property Management Module

The first session of the Mobile Home Park Property Management Module is now closed. If you didn’t get in, well, I hope to see you next time if we decide to re-open the course. But, I do have some good news for you…

Regine brought up a good point. Even though you may not have made it into the class, you probably still want to know how to find and hire a superstar property manager that will run your mobile home park for you.

Regine is a smart woman, so I think I’m going to set it up so you can get access to Unit 14 – “How to Find & Hire a Superstar On-Site Property Manager.”

It will take a day or two to setup access, so watch your email for a special Thanksgiving offer very soon and take advantage of it right away if you want to know how to live the mobile home park investor lifestyle.

P.S. If you want to get the email and you are not on my email list, click here to sign up now…

It’s been about a year since we started Mobile Home Park Classroom and the classroom is finally live.

To celebrate and to thank you for your survey responses and for sticking with me, I’m giving away three high-quality training videos before the official launch.

Click here right now to watch the videos.

You can use the videos right now to deal with bad tenants, turn your park around and find and hire a superstar on-site property manager.

One year. That’s how long it’s been since we started talking about making a mobile home park management course that would teach you the simple and powerful systems my family uses to run their mobile home parks.

It’s been a wild ride.

This journey started three generations ago when my grandfather bought his first mobile home park. His story is proof that anyone can become a mobile home park investor. In many ways, this course is my tribute to him and the legacy he created.

I want to thank you for sticking by my side while I figured out all the technical mumbo jumbo required to put this course together. We had a few false star where I actually went back and improved the entire course to deliver as much value as humanly possible.

It’s been quite a chore and has taken a year of my life, but standing back and looking at it just makes me say… WOW! I think you’ll say the same thing when you see the course, which should happen very soon because…

Drum-roll please…

The Mobile Home Park Classroom Property Management Module is… done!

All that remains is for me to straighten out the details of the upcoming launch, and that’s where you come in.

As part of the launch, I’m going to create three videos where I will help you with some of the biggest challenges in the mobile home park business.

From your survey responses, blog posts and emails, I’m pretty sure I know what you want, but this is your chance to get your questions answered. Leave a comment right now and tell me what you want to see in the three launch videos (I’m setting up the lights and camera today, so let me know right away).

Thanks for waiting patiently for the Mobile Home Park Classroom Property Management Module where we teach you the foundations to really run your park like a pro. As a way of saying thank you I’ve included the video below that will teach you one way to increase your revenues.

I’m in New Mexico this week filming a few of the final videos for the release of the course and I wanted to share this video with you as my way of thanking you for being patient.

You know, I’m just a regular guy and it has taken a lot of time to figure out how to share this course with you so you don’t have to struggle through the mobile home park business like my family use to before they figured out the systems and processes that make this business easy, fun and profitable.

I’ve been reading each of your emails and comments on this blog and I just want to say thanks for hanging in there (we are so close!).

P.S. Sorry if the sound isn’t perfect – I learned another lesson about asking everyone in the house to be as quiet as possible. Thankfully I did not run into any problems like this in any of the videos in the actual course (whew!).

One of the reasons why mobile home parks are such a good investment is low supply (as in supply and demand). Here’s why – it’s difficult to get approval to build a new park and a lot of existing parks get converted to other uses when the mobile home park investors that own them decide to cash in.

Case in Point: Sunshine Village in Palm Springs, FL

The elderly and disabled residents of Sunshine Village — nearly all those living in the decades-old mobile home park — are fretting they might lose their homes to construction of a Walmart.

The Palm Springs Land Development Board voted unanimously Tuesday night to recommend a commercial zoning change to the 18-acre community of about 70 homes on 10th Avenue North. The village council on Thursday is expected to vote on a first reading of the zoning change.

“I am on disability and fixed income,” resident Karren Edgar said. “Where am I going to go?”

Two things in this story are important to notice if you are a mobile home park investor.

First, mobile homes provide affordable housing to people that can’t necessarily afford apartments (supply). Second, mobile home parks are good investments because you don’t often see a new mobile home park being developed and a number of them are taken off the market and converted into other uses when they sell (demand).

Here’s a quick video update about the first module of Mobile Home Park Classroom.

Let me know what you think about teleseminars, which is where we all get on the phone or the computer together for a conference call, with the experts in the comments area below.

If you hang around mobile home park investors long enough, the conversation will eventually turn to park-owned homes.

A lot of park owners hate them. Read on to see how we feel about them.

Park-owned homes are mobile homes the owner has purchased, usually to rent to tenants.

To know whether park-owned homes are a good idea, first we have to consider a real estate term called “highest and best use.”

Highest and Best Use: Mobile Home Park Spaces

If you have a mobile home park with vacant spaces, you may have options you haven’t considered. For example, let’s say your mobile home spaces lease for $300 a month. You have a vacancy. You could advertise the vacant space and move in a tenant who owns his own trailer.

You’d make $300 gross revenue.

Or, you could buy a mobile home and put it in the vacant space. That might make you $900 a month in gross revenues. You essentially triple your revenue for the same piece of land. Once the mobile is paid off, you stand to make a very nice return on investment.

What’s the Catch?

Costs.

One of my favorite sayings is, “Every benefit has a cost.” It reminds me I’m not going to get anything good unless I invest and pay the cost. This is true in every business, especially the mobile home park business. But, I’m not talking about the cost to buy the trailer (another term for mobile homes).

I’m talking about the cost to repair the trailer after the tenant moves out.

In fact, one of the reasons I swore off this business as a kid was because of all the trailers I had to clean up and rebuild that were absolutely, positively trashed.

Close your eyes and picture stained carpets just reeking of cat urine, kitchen cabinets covered with food and sticky grease, broken windows, holes in the walls, holes in the interior doors, and my favorite part – bathrooms that would gag a maggot.

You can only guess what happens to all the profit (and part of your own money) when you get a trailer back in that kind of condition.

Let’s just say your wallet or purse will be a little lighter at the end of the day.

Before I completely scare you to death about park-owned homes, let me share a little secret with you. My family really likes absolutely loves them. I know. It sounds crazy… (and yes, I put a line through “really likes” to make sure you understand how much they love park-owned homes).

The Counter-Intuitive Catch

If you want to increase your income with park-owned homes, you are going to pay a cost.

Here’s the kicker. Cost doesn’t always mean money.

If you are willing to invest the time to learn how to really manage your mobile home park like a professional (or learn how to hire someone who will), then you can make park-owned homes a profitable part of your mobile home park business. The cost is the time you spend investing in your education and the application of what you learn.

Shameless Plug

I can’t say exactly when because we are still putting the final touches on, but I will be releasing the Mobile Home Park Property Management Module soon. I’d love to just release it now, but we keep thinking of more cool stuff to put into it that will help you. And…

My family has been actively involved in the mobile home park business for 40+ years, which translates into a lot of systems and processes to capture and put into the Module (and I’m a bit of a perfectionist, which can be a real pain when you are trying to get something done on a tight time-line… I’m not bragging, being a perfectionist is a curse).

Alright, enough ranting. Make sure to stay in touch and watch your email because I think I might leak some videos from the course. And if you’re wondering why I’m not releasing the module on buying and selling a mobile home park first, then check out this post on the mobile home park property management course where I explain why.

Is there anything you’d like to know about owning and leasing park-owned homes? Comment below and let me know.

[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.