Park #3 is finally under contract with seller financing.
I borrowed private money for the down payment and the lot rents will cover the monthly payments. The park is about an hour or two away over in Ohio, so we’re about to learn a whole lot of new things!
The park has 35 pads with 11 of them being empty, and lot rents are half of what they should be (guess who is getting a lot raise). I can’t wait to start bringing in new homes. I’ll start with 10 park-owned homes that we will start converting into RTO (will make them an offer they can’t refuse).
I wanted to give a huge thanks to Ron LeGrand for showing me how to buy these things right. Also want to give a big thank you to Tish Hill for sharing your wisdom. And finally, another big thank you to Andrew, Aaron and Michelle Schlag for sharing your park knowledge and shortening the learning curve.
We will not be stopping at park 3 and Park Daddy is thinking of a few more streams of income with the parks. This particular deal probably took two weeks longer than it should because they had an attorney that was not a real estate attorney and had no sense of urgency.
Congratulations, Kyle! Looks like you have a great plan to get some serious cashflow happening. Cheers, to your continued success.
Congratulations Kyle, you deserve success 🙂
Hello Kyle,
Great success story. You are the first person I’ve read about that is focusing on parks. Good for you! It is nice to see someone saving the parks for people who want to use them for homes or other positive uses. Keep on investing.
Bye for now,
Robert
This is a different focus for sure but if Ron teaches it, it will work! Great job dealing with your learning curve and much success to you!
Hello Kyle,
Congratulations and good job on the park purchase! I am proud of you and your efforts. Glad to read that you made some good investing decisions and are becoming a successful real estate investor. I am new to Planet Ron, and am working on my first deal. One day I too will be able to post a success story like yours. Take care, keep up the good work, and keep on investing.
Bye for now,
Robert
Hi there Kyle,
How many other deals have you done since this one? It would be interesting to find out what other deals you have so we can all learn from your experience and perhaps use that knowledge to help ourselves make us successful. Take care.
Hello Kyle,
I am working on a deal right now and hope you are reading this comment so as to replying and giving me some words of encouragement, advice, and support. I sure could use it so that I too can be a successful investor! Maybe I’ll hear from you soon? Take care.