Mobile Home Park Vacant Pad Strategy

[Nate Pattee]

I'm working on a 100+ space MHP deal and the park has about 25 vacant pads.  I'm considering a couple different strategies to fill up the vacant pads and park owned homes but thought I'd take a pulse from the BP community and get some opinions.   Consider this is a lower level 2-3 star park.

1.  Buy used units and fill with the rent to own strategy.  If this is a descent strategy what should I be looking out for?

2.  I'm also considering buying new homes or pulling in a model on site and having prospects buy through the dealer.  But I am having a hard time determining if the park can support new home prices.  What can I use to get an idea if new home sales would be a viable option?

3.  With 1 & 2 considered, which one offers the best way to fill the vacant pads with the least out of pocket cost?  

4.  On a similar note, if the park comes with a few park owned homes, what's a couple good strategies I can use to get them sold?  

Any AZ investors/owners want to meet for coffee/lunch, let me know - would love to connect!