Hey BP community. I'm new to BP and a newbie investor. I have a bit of book knowledge about Real Estate but not much real life knowledge. I own a tanning business which is great but I am looking to change business directions and become a full time investor. (I'm ready for passive income) I hear a lot on the podcasts that people wish they would have gone bigger sooner. I want to focus on multi-family and commercial properties.
I recently found a small mobile home park in my area and I thought this could be a great start. However, I find myself really nervous. It has 12 rental lots with one park owned unit. I went to use the rental calculator but am stuck at the after repair value. How would I find this out? What type of repairs need to be done to a mobile home park to add value? What are the biggest differences in comps between MHP's and residential? I feel like it's not as easy as finding recently sold SFH's.
Any advice/help is appreciated.
