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Updated almost 13 years ago,
general mobile home park questions...
SFR/2-4 unit investor looking to broaden his horizons...and profits!!
I have some questions about mobile home parks. I *might* also try some Lonnie deals, but mainly, I want the parks, not the MH's themselves. But if a property has a few park-owned ones, fine.
1. I work full time. Are there property management companies that do MH parks? What do they charge?
2. Do most institutional commercial lenders do MH park loans under the same general guidelines?
3. Pros/cons of having little or no park-owned homes vs. having a large number.
4. What's the best way to increase occupancy if there is a low occupancy number?
5. What is a min occupancy % for a bank to approve a loan?
6. What is a typical expense ratio presuming no or few park-owned homes?