Small Mobile Home Parks

[Anthony Todd Quire]

Investment Info:

Mobile home commercial investment investment.

Cash invested: $70,000

24 Lot mobile home park in Southwestern Louisiana.

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

Just loved the idea of multi-family in the mobile home park sector with the cash flow and and the cash on cash return.

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

I found this deal organically when I met a gentlemen at Lowe's and developed a relationship over a years time.

How did you finance this deal?

Bank financing with 20% down of purchase price.

How did you add value to the deal?

Brought homes in, increased lot rent, and submetered park

What was the outcome?

Park almost has tripled in value.

Lessons learned? Challenges?

You must invest money in regularly to get a return on turn around projects.

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

No real estate agents, but worked with local commercial lender bank.