All Forum Posts by: Ben Walsh

@Jack Martin Thank you, I really appreciate the details you just provided. This really helps me understand the scope of the due diligence and things I should look for. I am also meeting with a local MHP investor who specializes in this asset class to continue learning! 

Hi All, 

I am looking at a few mobile home parks in MN and I am wondering what you all use for evaluating the value of a prospective mobile home park. Are you evaluating it the way you would an apartment building? Would anyone be willing to share a calculator or spread sheet that they use? 

I am also wanting to make sure that I have a good due diligence check list, would anyone be willing to share what they use for their due diligence on a mobile home park? 

I appreciate any and all help with this, and if anyone is the Twin Cities area of MN and wants to meet up I am always open to that! 

Thanks for the quick response Jaysen & Jordan. We have not yet started to consider other markets, and actually our plan is to house-hack our way into the next duplex--which will be August 2020. We didn't set out to conquer the world, but we aren't going to take our foot off the gas.

Jaysen: Do you have a market that you suggest starting to look at?  

We will start looking to network with someone who is willing to teach us a fix-and-flip strategy in exchange for our time and help with the work. 

My husband and I are closing on our first duplex early July through bank financing. With that, we have used up our capital for the down payment and small rehabbing that needs to happen.  

Our overall strategy is buy and hold rentals in the Twin Cities area of MN, starting with small 2-4 unit buildings and then getting into the small apartment space. We do not want to have to wait to re-save up to keep making deals happen and so now we are wondering what the best next strategy is. Do we learn how to execute on a fix-and-flip to build up capital? Do we learn how to wholesale? Do we find a buy and hold deal and network to find someone who wants to partner on it? (Although in the Twin Cities MN area the buy and hold deals are very thin and hard to make a partnership work in our opinion).

I would really appreciate peoples feedback on this. As I said above, we do not want to slow down on account of not having the cash on hand for another 6-8 months. If your in the are, would love to connect, thanks in advance!