Mobile Home Buying Qualifications

[David Whartnaby]

What type of buying credentials do you have for a mobile home park? What are you looking for? What type of CAP rate are you looking for? How do CAP rates for a MHP compare to an apartment building for instance?

[George Skidis]

Old school investor. I total the rents subtract the known expenses and add another 10% for surprises. If it still cash flows I am interested. One thing to factor in is the age of the park. How old are the water lines? Lots of tree roots to tear them up? How about the electrical services. still above ground or have they been updated and placed below the ground. Park Full? Has the local factory just closed? Where do the current residents work? There is more but perform your due diligence.