An owner's perspective

Larry - Trailer park

Your journey as an investor?

Forestry operation, bought one then another one
How did you buy the first one?

Financed it, Credit Union 25-30% down, then Scotiabank 30% down

$205, $225

$185, $205

$400,000 of mortgage

The people pay: 5%, put it out at 10%, less than rent, own it after 20 years

Contract: $1,500 down, rent to own contract

The second one?
Went to the bank?
How do you collect the rents?

Cheques, cash, e-transfer, has manager running rental applications, eviction: $25/hour
Have you ever brought trailers in?
Do you then sell the trailers?

For my park, 6 months notice: in November for May: $140, $120 if paid on the first

Second one went to receivership: water, sewer work

Always look at frame and structure before you put money into it unless it is livable

Always bring someone as a witness if you go inside a property

1. Do notice
2. Find tenant to sell their home

When you buy a new trailer: 2 or 3 bedrooms, $100-$150/month

2 bedroom have less kids

Park rules

Read it over, sign and bring it back, each one keeps a copy

If you refi with bank, you will save $30 per percent down

They go to get financing at credit union

If you give them a good deal, they will stay