Systems and Processes for your Real Estate Investment or Mobile Home Park

Are you tired of blindly purchasing properties and hoping for the best? Do you want to know the real secret to success in real estate investing? Well, buckle up my friends, because I'm about to drop some knowledge that will change the way you approach MHP acquisitions forever. SIMPLE

Here’s the dirty little secret: when it comes to acquiring deals, especially in the beginning, it’s crucial to get on site and understand what you’re buying. Sounds simple enough, right? But here’s where it gets juicy – the seller will NEVER want you to talk to the tenants.

Why, you ask? Because the tenants are your best source of information about ALL the issues you may not find otherwise. And let’s face it – the seller is not going to voluntarily disclose any issues that could potentially jeopardize the sale.

That’s right – those same tenants that the seller is trying to keep you away from are going to give you the inside scoop on everything from septic issues, treatment plant issues, well issues, to noisy neighbors. And if you’re not talking to them, you’re missing out on a goldmine of information that could potentially save you hundreds of thousands of dollars in repairs and maintenance costs.

But it doesn’t end there. Even after you close on the property, you should double back and check your property manager until you’ve built up a level of trust with them. And the best way to do that? You guessed it – by being on site, learning, and talking to residents.

Now, I know what you’re thinking – “But I don’t have time for that! I have a million other things to do!” Trust me, I get it. But here’s the thing – by putting in the extra effort and getting your hands dirty, you’ll be setting yourself up for success in the long run.

Think about it – by taking the time to truly understand what you’re buying and getting to know your tenants, you’ll be able to identify potential issues before they turn into full-blown disasters. You’ll be able to build trust with your property manager and ensure that your property is being managed to the highest standard.

So, the next time you’re looking to acquire a new property, remember this dirty little secret. Get on site, talk to the tenants, and make sure you’re getting the best deal possible. Your bank account (and your tenants) will thank you for it.

 

Be Relentless!

-DV

Vicktory Real Estate Group

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