Mobile Home Park Investing

[Kevin Gilliard]

I would like to speak with someone who has experience in purchasing  mobile home parks. I have a small park that is local to me that I think is great buy and want to get some input from a investor that is experienced.

Thanks

[Jeffrey H.]

@Kevin Gilliard there are fair number of very seasoned MHP investors on this forum.  Feel free to post your question and several will give you honest responses.

To get a good handle on value we need to know 1) Number of pads in the Park; 2) Number of occupied homes in the Park; 3) The current lot rent; 4) How many homes are owned by the Park versus Tenants; 5) What is the age and condition of any Park owned homes; 6) Is the property on public utilities or well / septic; 7) Any known major capital improvements required (e.g. roads, utilities, tree trimming, etc); 8) The asking price from the Seller; 9) Demand for housing in the city or town; 10) Are the cost of utilities passed along to the tenants; and 11) is the lot rent below, at, or above other MHP's nearby.

These are the basics just to help see if this deal looks okay on the surface.