Mobile Home Park

[Whitney McNair]

Investment Info:

Mobile home commercial investment investment.

Purchase price: $124,200
Cash invested: $24,280

Purchased 9 lots, all homes are tenant owned. 14% COC return.

What made you interested in investing in this type of deal?

I've taken a lot of multifamily/syndication training and I'm a General Partner on a syndication team.

How did you find this deal and how did you negotiate it?

It was on the MLS

How did you finance this deal?

I negotiated a seller finance deal

How did you add value to the deal?

Increased rents

What was the outcome?

Really great returns.

Lessons learned? Challenges?

Evicting tenants when they own their own homes is difficult.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I'm the Real Estate agent who brokered the deal.