EP 131 | Case Study: How To Make Seven Figures On One Park Ten Minutes From Home

The Mobile Home Park Lawyer Podcast

In this week’s episode, Ferd shows us how to increase the value of a park to make $1,000,000 in net cash out proceeds just 26 months after the initial purchase. Ferd walks through the persistence it took to earn this deal and the strategy that led to tax-free dollars in his pocket while being in his hometown of low market rents. Ferd and his father accomplished this without needing to buy an apartment or having to gouge their tenants. In contrast, tenants were left happy with a newly improved community while Ferd and his father turned a couple hundred thousand dollars down, into over $1,000,000 in just about two years. If you are looking for ways to increase and appraise your park’s VALUE the right and efficient way, this episode is for you. Don't miss out!

Highlights of the episode:

00:00:00 - Episode Introduction

00:00:33 - Start of the topic:

00:01:10 - Introduction of case study

00:04:25 - Parking Pad

00:06:05 - Subdivision Process

00:07:20 - Demo Homes

00:08:07 - Buying Right

00:09:03 - Real Property Evaluation

00:10:37 - Putting Billboard

00:12:19 - Delaying the re-finance

00:12:55 - 13 pads debt-free

00:13:28 - Appraised deal

00:15:08 - Treating Tenants Properly

Notable Quotes

"Just be persistent... Persistence is key"

"You don't need to gouge your tenants to make real money"

"You can do things right, treat people right, improve their lives"

Connecting with MHP Law:

Website: https://themobilehomelawyer.com/

Facebook: https://www.facebook.com/The-Mobile-Home-Park-Lawyer-103814958118069

LinkedIn: https://www.linkedin.com/in/themhplawyer-ferdniemann6923147/

Instagram: https://www.instagram.com/themhplawyer/

#BuyingRight

#AppraisedDeal

#DecentMoney