Updated almost 7 years ago on . Most recent reply
Mobile home park wholesaling
Hello BP,
I have somewhat of a naiive question. So I really am starting to dig into MHPs. I look on all the websites to find deals, however I don't really have capital to act on them. I don't want to cold call and create deal flow if I can't even fund a deal.
The question is, if I were to find an off market deal. Do I NEED to put it under contract to start telling people about it? If so, would I do some deeper due diligence and the phase 1, or would the potential buyer?
Thank you!
Most Popular Reply
Yes get it under contract. You need to perform the financial diligence on the park and then assign it to a new seller.
If you’re looking for a partner in the deal then your choice on whether to continue the physical diligence part because the clock is ticking on your contract.