In a world of economic uncertainty, disappointing returns, and out-dated investment strategies, where does an investor turn to find valuable insight about “on-trend” investments?
Mobile home park investing, local vs. out of area investing
1.
2.
3. What’s the difference in investing in
mobile home parks locally versus out
of area, and even out of state?
4. Access to more data, technology, and contacts than
ever before now enables real estate investors to
effectively invest in and hold properties virtually
anywhere in the world. So with such great freedom,
and no barriers what are the pros and cons of
sticking close to home versus further a field?
What’s better, and why?
6. Some investors will find they have great mobile home park
investment options close to them. These definitely should
not be ignored. Aside from the close proximity and
potential knowledge of the area, there can be other benefits
of investing in your home town too. This may include
positively influencing the property values of any other real
estate you own. Then there can be other than monetary
benefits such as improving the local community and
economy and helping others.
7.
8. Limited Options
You may be in the best mobile home park market in the
universe. If so don’t overlook those deals close to you.
But since the whole world is your oyster, don’t suffer
inferior returns, or forego the need for diversification.
Demand the best investments, with the best returns, in a
strong portfolio.
9.
10. The DIY Management Trap
Perhaps the worst part of staying local is the potential
to fall into DIY style self-management. This notoriously
traps many, even among those who didn’t plan to get
involved. There is just too much temptation to stop by,
answer the phone, and try to fix it yourself. That can
create all types of bad habits, confusion, and issues.
12. Privacy & Security
Some investors like the ego boost of being known as the
big land owner in town. For others the spotlight is a
nightmare. Most investors fail to put enough cushion
between them and others. That means they can easily be
looked up and hunted down by irate tenants, and the
attorneys of malicious fraudsters and opportunists.
13.
14. Unsustainable Investment Model
Those that fall into the DIY property management trap face even
bigger issues later on. Eventually most investors will move. They may
move for better weather in retirement, to be near family, or to
downsize and be close to good healthcare. Then who is going to
manage the investment. If you haven’t built in enough margin to cover
hiring a professional third party management firm that could mean a
negative cash flow situation which begins to eat into previous gains.
15.
16. Want to Know More
About
The Benefits of Investing
without Borders?
