Trailer Park without owner the land

[Phil Haynes]

I have found an opportunity that look's good on paper but not sure if I should pursue it.

I originally thought it was a mobile home park with 45 units but it turns out it's 45 units within a mobile home park.

We'd never own the land only the units.

I drove by it yesterday knowing which units and it seems to be at least 50% of the park or better.

My initial #'s show it would cashflow nicely but my question is how risky is this.

Also how do I valuate the trailers?

I'm assuming I could never refinance once getting all units looking great.

Would love feedback.

[Paul Moore]

@Phil Haynes. My favorite investment is mobile home parks; the land!

My least favorite investment on the planet: mobile homes. I have acquired four of them in years past and three were perhaps my worst all-time investments.  there is a lot of data backing up my opinion, but you have to decide for yourself. If you are extremely hands-on on and local and don’t mind being a babysitter and are happy to evict, you may be able to pull this off. Most people with MHP expertise would not try this.  PM me if you’d like to discuss more.