As an organi- zation, we have three steady methods or points of reference our company and clients, relative to investing. The first is the National Associ- when sourcing information for
Owning a mobile home in a park is the hous- ing of choice for millions of Americans. That niche is my specialty, and understanding it requires some targeted informa- tion-gathering. Many times, a mobile home
Successful real estate investment has much more to do with local economics than with what may be happening na- tionally. Primary news channels may have you thinking the next Armageddon is fast approach- ing, but a closer look at your local
NEW NEW NEW JERRY LUCKER PARTNER MOBILE HOMES MAKE MONEY
CHRISTOPHER BOWES PRESIDENT COASTAL INVESTMENT NETWORK
VIOLETTA VARENKOVA DIRECTOR INVESTOR INCOME PROPERTIES
ation of Real- tors’ website,
represents the only affordable alternative to renting. Mobile homes are considered personal property (bought and sold just like a car or motorcycle), not real estate. Savvy investors are learning this distinction offers unique opportunities for housing flips. Lack of competition, low initial investment and unusually high profit margins on these quick and easy transactions are being realized by investors who take the time to understand this amazing niche. Profit is determined, of course, by acquiring a unit reasonably and reselling at retail. Often a good spread is realized by buying and selling pretty much as is. Other times a little “TLC” can add significant value. Retail values (comps) are found by daily reviews of the “sold” sections of real estate websites or reports from a title company. Bargains to buy are found on bank repo lists, from bird dogs, on Craigslist, a myriad of other sources and—ironically, my highest profit project—right on the MLS! •
market often tells a different story. When monitoring our primary cash flow market of Cleveland, Ohio, we study three key factors: local employment, market rental rates and the percentage and ratio of distressed properties. Issues that affect the nation are invariably going to trickle down, but it is at this local level where an astute real estate investment company can react fast and successfully if it is run by local professionals. Identifying value and rental potential as a result of being focused in very specific areas will pay dividends, but it takes disci- pline. I don’t necessarily believe the hype that many real estate journalists write, so I don’t rely on third-party stories to give me indications of movements in a market. From my point of view, success really comes from being a professional at a local level or, for the distant investors, doing business with a professional orga- nization that knows and has controls on its local market. •
which provides detailed information on the industry as a whole, from industry news to financing options to statistics. The information tends to be broad in nature, but it keeps us informed as to what’s happening nationwide. Second, because so much of our busi- ness model is related to new construc- tion, we rely heavily on what information is provided by the National Association of Home Builders. This has been a valuable resource tool for us and allows us to monitor all kinds of data relative to new homes. We track various patterns based on permits, starts, supply costs and market trends in the building industry, as well as the organiza- tion’s stock performance. Finally, many of our clients seek investment opportunities along the southeastern coast- line. It is imperative for us to stay informed not just nationally, but locally. • 1
WEB :: www.CoastalInvestmentNetwork.com PHONE :: 843-368-2935
WEB :: www.mobilehomesmakemoney.com PHONE :: 425-949-4000
WEB :: www.investorincomeproperties.com PHONE :: 855-447-9800
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