Mobile Home Park Adventure

[Rebecca Rodriguez]

Investment Info:

Mobile home buy & hold investment in Burkburnett.

Bought from slum lords, neither I or my business partner had any clue of what we were getting into. 45 spaces with 21% occupancy - wow on every single level is all I can say. We are actually under contract right now to close this deal and have a new buyer, much more experienced in the mobile home space take it from here. Be prepared to invest lots of capex. Make sure your business model makes sense. If you want details - that is through a phone call or email. Thanks for reading this far.

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

To impact, maintain affordable housing. Renting dirt makes sense.

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

Direct Mail. Paid the asking price.

How did you finance this deal?

Conventional.

How did you add value to the deal?

doubled occupancy.

Lessons learned? Challenges?

So many to list: Make sure your partnership goals are clear. Pivot quickly. Learn fast. Trust YET verify.

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

Sunstone Real Estate Advisors