purchasing MH Park - Posted by jack

Posted by Lee Norman on March 29, 2002 at 17:21:11:

Better yet, buy Ray Alcorn’s book. It is a super primer to get you started.
Lee

purchasing MH Park - Posted by jack

Posted by jack on March 28, 2002 at 24:28:45:

I’m looking to purchase my first park. Learning along the way. I want to find out what I need to do and ask about for due diligence. here is what i know so far. What else can someone suggest?

senior 3 star park
60 spaces on 6 acres
12% cap rate
good location
separately metered city water and sewer
management stays
30% for expenses
laundry facilities
no other amenities
roades and lighting recently updated

What else should I ask about or do?

Thank you

Re: purchasing MH Park - Posted by lyal

Posted by lyal on March 28, 2002 at 10:11:46:

In addition to the article that Tony references I’d look under the “Money Making Ideas” section of this site at Doug Ottersberg’s excellent 4 part series “Turning Trailer Courts into Communities”.
All the best, Lyal

Re: purchasing MH Park - Posted by Tony-VA

Posted by Tony-VA on March 28, 2002 at 09:28:54:

Read Ray Alcorn’s “Due Diligence” Checklist located at the end of this “How To Article”.

Tony-VA