What criteria do you look at for mobile home parks

[Michael J.]

I'm looking at buying a mobile home park.   its on about 20 acres. Has 13 current MH on it.  Current owner already has county approval to add 10 more spaces.

Current MH are on own septic and water, however public sewer has just come available in the area.

All 13 homes currently rented and brings in aprox $100k yearly income.

What would be the next steps for me to take in doing due diligence on this property?

What questions should I be asking?

What is a good price per home or for the whole park?

[Paul Moore]

Hi @Michael J. there is a whole lot for you to consider before moving forward. @Dan V. ask some excellent questions. I recommend you immediately buy and read a 2020 book called The Mobile Home Park Manifesto.  Then try to get a copy of the home study course from Frank and Dave. I think it is at Mobile Home University online or you might locate it used.  

This could be a huge opportunity or a disaster for you. I will say that you are going to want to get out of the business of renting mobile homes. It is usually a nightmare. You will want to get those 13 homes and any more you add into the names/ownership of the tenants ASAP. You want to be in the business of leasing dirt.  

I do a free, no strings attached Mentor call at noon most Wednesdays (I have nothing to sell!)  You are welcome to join tomorrow. PM me for details.  Happy Investing!