All Forum Posts by: Dominick Dahmen

@Gulliver R.

Right, but my question is why don't people include that in the budget? Like you would with regular multi family for roofs or siding? I'm under the impression that roads and pipes can be pretty expensive, so wouldn't you want to proactively save for those expenses?

Hey all,

So in running the numbers on MHPs online, I see plenty that have like 94 or 95% occupancy. But they still say there is "value add" by i filling say 7 homes or lots. If it's that simple, and the market is good, why haven't they done it?

Are they lazy? Or just really ready to sell?

I'm looking at a park that is a pop owner who's owned it for 20 years and is in his 70's. It's priced at a 15% cap but about a third of the mobile homes are vacant and condemned. I want to see if I can even bring new homes in. If I can't, does the 15% cap justify this situation enough? Also, apparently rents haven't been raised in quite a few years. I have yet to verify.

I have kinda had a realization about capital expenditures on Mobile Home Parks. I heard the expense ratios can range from 20-40%. If all homes are TOHs in a park, then what would the capital expenses be for the park part of the utility hookups?

@Jim Tassoni

That's great!

@Jim Tassoni

Thank you for the info! Where are you looking for MHPs currently?

When sellers talk about not having the energy to fill vacant lots, do they not know about the CASH program from 21st mortgage? Or is this a red flag that there isn't a lot of demand?

@Dominic Mazzarella

Thank you. I did run into that a couple of years ago and that's why I got out of RE for a few years.

@Dominic Mazzarella

Thank you for the input! My thinking was people who i've know for many years, since I also work in the financial sector, I think RE investing shouldn't be a big stretch. Well the deal I am working on is a true 13% cap.

@Erin Auman

I'm struggling with the same thing. I'm great at talking to people, but it's hard to start a conversation. Do you have skills that may bring value to partners? Like you can find deals and/or you are creative with financing?