Mobile Home Park Acquisition's Dream Team

[David Denzy]

Hello everybody,

If you were to build a 3-person dream team for acquiring and operating mobile home parks, what 3 kinds of people/skill sets would you choose?

I’m seeking experienced investor’s advice. This is what I’m thinking:

1. Deal finder (cold caller/market analyst/information gatherer)
2. Evaluator/Underwriter (financial modeling expert/banking connections)
3. General Contractor (someone who can advise on cost of renovations, etc.)

Honorary mentions:

1. Attorney (background in RE or contract law)

[Chris Ebert]

I would replace #2 with Operator - parks aren't that difficult to underwrite. Unless you're in an auction scenario, you shouldn't be looking to squeeze every last dollar out of the asset. Also, if you're buying parks with a good portion of park-owned homes then #3 is good. Otherwise I would replace #3 with Attorney. Just my 2 cents.