What to look out for in mobile home parks?

[Adam Serdula]

What should I look out for or be worried about when looking into mobile home parks?

[Aaron Olsen]

Originally posted by @Adam Serdula:

What should I look out for or be worried about when looking into mobile home parks?

 Adam, there are a lot of resources available.  The podcast with Jefferson Lilly that Garrett pointed out is great.  Some additional resources are listed below.  When I am looking for a deal, I first vet the market. If the market is not right, I will normally end the analysis there. Here is my general market criteria (looking at metro areas) (can find at bestplaces.net and city-data.com):

Requirements
Population	100,000 plus
Population Change	Any increase
Unemployment Rate	Under 8%
Median Income	$40,000 plus
Median Home Cost	$100,000 plus
Housing Vacancy	Under 20%
Crime	Use Judgment

You want to make sure a Walmart is within about 5 miles of the park, if possible.  We run test ads on Craigslist and Facebook Marketplace, et al., to test the demand of the market.  Look for parks on city water and sewer (as opposed to private utilities).  Also stay away from master electric and gas.  Also look for parks that have tenant (as opposed to park) owned homes.  The more tenant owned homes the better.   Here is a great list of resources provided, in part, on a prior post by another bigger pockets member (John Jacobus): 

Books

1. Mobile Home Park 10/20 Investment System by Dave Reynolds, Frank Rolfe
2. Mobile Home Wealth Part 2: How to Become Even Wealthier investing in Mobile Home Parks by Zalman Velvet, Stuart Silver
3. The New Investor's Guide to Owning A Mobile Home Parkby Laura Cochran, Erin Cochran

Podcasts:

1. The Mobile Home Park Investing Podcast with Kevin Bupp and Charles DeHart
2. Mobile Home Park Investors with Jefferson Lilly
3. Mobile Home Park Mastery with Frank Rolfe
4. Mobile Home Parks in Real Life with Ryan Narus

Websites/Blogs:

1. Park Street Partners - http://parkstreetpartners.com - This is the investment firm run by Jefferson Lilly and Brad Johnson. They focus on mobile home parks and have solid educational content on their website.
2. Mobile Home Park Investors - http://mobilehomeparkinvestors.com - This is the LinkedIn group led by Jefferson Lilly. It's the largest group on LinkedIn that is exclusively focused on mobile home park investing.
3. Mobile Home University - http://www.mobilehomeuniversity.com - This is the site maintained by Dave Reynolds and Frank Rolfe. I recommend subscribing to their newsletter. I am doing the boot camp this Feb. 2019. I have only heard good things about this program and that it is well worth the cost. Not only do you get a wealth of information, but it is a very good way to break into the niche with networking.
4. Mobile Home Park Academy - See above (They are no longer offering the academy boot camp, but now have a program that offers materials -- I heard it is good, but expensive)