We are real estate investors concentrating on fix & flips on Long Island, NY & Pennsylvania, STR/Vacation Homes and, most recently, Short Sales. But after learning and training on mobile homes for a few years, we will soon own and operate a small mobile home park in Pennsylvania!
Thanks to the training and unwavering support of Christy Duckett Harris (and of course Noah Harris) and our team of professionals on the ground, we will own a 10 lot mobile home park with a single family home, 4 park-owned mobile homes, and 5 mobile home lots, which are all already leased.
- 🚫 Don’t let anyone tell you that YOU CANNOT DO IT!
- 🤔 Don’t let anyone talk you out of WHAT YOUR GUT TELLS YOU even if the numbers look okay.
- 👂🏼 LISTEN!!! When people want to talk to you, LISTEN! Make the time to be a good listener, even if you know you have a million things to get done! What you hear may be truly beneficial to you, to the person sharing, to the deal, or just to learn something new everyday!
**The due diligence period of this property was no question, the most important due diligence we have completed to date! Many hours of phone calls & conversations, dozens of emails, tenant conversations & site inspections, neighborhood driving, legal and lender calls, etc. DO YOUR WORK!! Because of this due diligence, we first negotiated $65K lower than ask, then again we then negotiated another $25K off the purchase price and did not waiver, sharing some of our due diligence! $90,000 UNDER ASK‼️
What does 10 lots means:
- 10+ different personalities
- 10 structures to maintain
- 10 rents to collect
- BUT THERE ARE DOZENS OF WAYS TO PROTECT YOURSELF!
75% of this deal is through our local commercial lender and 25% PRIVATE MONEY LOAN has been shared with our steady lenders – If for any reason they are not able to take advantage of this opportunity, I will share it with PMC!
Thanks if you took the time to read – I appreciate being able to share this experience with the community! Best to everyone, always!! Jennifer
Jennifer Purtill
JP Property Buyers, LLC
516-860-7984 (cell)
JPPropertyBuyersLLC@gmail.com
www.JPPropertyBuyers.com
@JPPropertyBuyers
Honeybee Hideaway-Vacation Home in Pennsylvania’s Poconos Mountains
https://airbnb.com/h/honeybee-hideaway
https://www.vrbo.com/2563890
@HoneybeeHideawayPA
Thank you for sharing your success with us. It shows how valuable a tool PMC has been to you and can be for others. Congratulations on purchasing your first mobile home park!
Thank you, Marceels! Yes, we are all one big team and can always learn from each other. Thanks for your congrats, we are excited! Happy Halloween!👻
Love to see this
Thanks, Chris!! Appreciate it!! Happy Halloween!
Congratulations Jennifer!!! So happy for you!
Congrats Jen! BTW if there are any lenders looking to put their money to work with a great operator, it might be worth reaching out to Jen about future projects.
Thank you, Noah! The coaching and friendships are invaluable and I always appreciate your support over the years. We look forward to continuing to see deals like this in our pipeline! ☺️
Congratulations. A great success story. Very happy to see that type of success. I visit close by.
Thank you, Edledoro! Very appreciated!
Thank you so much for posting, it brings me hope! I’ve been attempting to put together the financing on a Glamping Resort / Wedding Venue outside Austin TX for MONTHS, and yes due diligence is intense. The hardest part has been the issue of the past sellers not scaling the business, keeping detailed books, and that they’re selling it at land value. Theres revenue generated, but commercial lending is tight right now, and its hard to find RV park lenders. I’ll keep on keeping on!
Hi Keren! Thanks so much for your comments! I agree with you on everything. Where there is a will there is a way! I kept pushing and kept educating the selling agent and owners on so many little things… and that this is different – not to be treated like an ordinary single family home sale or even a multi-family HOUSE. This commercial deal is unique and it took a lot of back and forth, it actually fueled my fire to want to push harder. I leaned on my great friends and coaches to talk through things and am working with a very local lender. I would not forget about local banks that may have commercial departments. This lender does not do too many commercial loans but once I built rapport and proved my track record in my other investment properties, although not commercial, the relationship grew from there. Although I would love to do every single deal with a private money lender, I have found in the past that creeping up into the hundreds of thousands only led me to large private funds, not individuals.
Keep it up – something will come! Thank you! XX, Jennifer