Posted by Branden on May 08, 2000 at 18:02:41:
Here’s a few things you should find out about the park. What is the cap rate on the park? # of lots? Paved or gravel streets? Will the park fit the newer single wides (16x80)? Are the utilities metered separately? What’s the amp rating on electrical boxes? I personally like mobile home parks better than anything else. They’re easier to manage, take less time, and the tenants aren’t as demanding.
Branden
First MH deal. Need tips/suggestions! - Posted by Ben (FL)
Posted by Ben (FL) on May 08, 2000 at 15:35:09:
So far, we’ve done very well with SFRs, duplexes, and quads. Now, we’ve just identified a possible owner/finance deal on a MH park. All lots are fully leased with owner/occupants. We would just be collecting lease payments on the lot, itself. When I approach the cash flow analysis like I do with an SFR or multi-family, it looks like a great positive cash flow. In general, what are the main differences between dealing with leasing MH lots and SFRs? Also, what are some things to look out for and hidden traps and/or bonuses I need to take into account?
Re: First MH deal. Need tips/suggestions! - Posted by J.P. Vaughan
Posted by J.P. Vaughan on May 08, 2000 at 18:17:41:
Try posting this on our Commercial REI forum. It’s
hosted by Ray Alcorn, who has bought and sold many
MH parks. He’s the author of “DealMakers Guide to
Mobile Home Parks,” which is listed in our Catalog.