Mobile Home Park Underwriting

[Charlotte Dunford]

Hi all. Do you hire someone to do your underwriting and the analysis of the deal for you? Or do you just do them by yourself? I often feel like I need a second opinion on a deal, what would you recommend me doing? Do you hire underwriting experts to participate in this process? If so, where do you find them? I know about the Mobile Home University deal evaluation. Any other resources you guys know about? Many thanks!

[Chase Louderback]

I think underwriting is a valuable skill that you need to learn.  If you know the different ways of valuing MHPs/commercial property then it is mostly just practice and legwork.  The big thing is understanding the differences between MHP valuation vs other commercial property (i.e. Multifamily).  For example, you don't capitalize POH income in your analysis.