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In this episode, Josh (@thelifestylecrna) and Colin (@colinfrompdr) break down the story of their first on-market mobile home park deal in Michigan — a roller-coaster experience filled with red flags, bizarre seller behavior, lawyer reviews, investor conversations, and ultimately the decision to walk away before coming back a year later and buying it for tens of thousands less.
This episode is packed with hard-earned lessons about due diligence, trusting your instincts, and structuring investor partnerships the right way.
What You’ll Learn in This Episode:
- How an on-market mobile home park in Michigan turned into a year-long saga
- Why the seller’s weird lease structures, inconsistent lot pricing, and odd fees were major red flags
- How a $600 attorney review saved them from a potentially disastrous deal
- Why walking away early prevented them from overpaying
- How the deal later resurfaced at a lower price with improved infrastructure (two roads newly paved)
- The benefits and downsides of traditional bank financing for mobile home parks
- How they used an investor to cover the 20% down payment at a 10% return
- Why they now prefer offering equity positions instead of straight interest payments
- How to navigate sellers who are emotionally attached, condescending, or unrealistic in value
- Practical lessons on avoiding bad tenants, dealing with inherited problems, and cleaning up operations after takeover
- Why due diligence, inspections, and attorney review are essential—even when you’re excited about a deal
Search-Optimized Keywords Included:
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Perfect For:
Mobile home park investors, commercial real-estate investors, beginners learning how to structure deals, and anyone who wants real, transparent stories about the good and bad sides of investing.
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