All Forum Posts by: Shweta Patel

Hi guys,

I am looking into my next park deal. The current owner is transitioning the POH's into RTO's and has 4 already in place. My question is- wouldnt the deposit's currently held by the owner on these contracts transfer over to the new owner upon sale of the park ( assuming all homes are being transferred)?

TIA

@Trin Nagireddy: PM me, I have something 1 hour south of Atlanta that a broker reached out to me on. I can forward it along to you or we can discuss together.

TK, I am going to add this breakdown to my elevator pitch when discussing with new potential investors. Its bitter sweet to have MHC's be such an unfamiliar asset class. Where's your next investment deal?

Agreed. Not to mention that it is one of the few truly affordable housing sectors that remains. One where we can help facilitate home ownership. A smaller carbon footprint. And yet, they are stronger return wise then most other asset classes. Always on the look out for more to add to my portfolio!

"Wildly Important Goals" (WIG)  Meetup- Calling all Orlando area investors/syndicators/property managers/realtors/brokers/flippers/first timers

Come join us for drinks, refreshments, and talking all things REAL ESTATE.

If you have deals you would like to pitch, are looking for investors, networking to build your business directory, or just wanting to passively absorb the latest from the greatest in this area- this is a cant miss meet up for you!

Venue Details to follow

About the Host: I manage my company, Shwepa INC, which invests in small and medium scale commercial and residential real estate projects. My specific area of interest is Mobile Home Parks, Syndication, Affordable housing, real estate tax and law as well as personal finance. I am hoping to bring together some of the brightest minds in the Orlando Area and forge a powerful network that will help attendants achieve their real estate ambitions.

That, and I like wine.  

I wanted to know what it would cost to "develop" a park that is zoned for 30 lots, but currently vacant and only set up for electricity. Specifically- the cost of installing septic systems and well's. Thoughts? @Frankrolfe ?

Hello friends,

I am looking into purchasing a park that seems to be a great value, public utilities, great metro. 

However, all of the park owned homes are conveyed without titles. Does that automatically make this a bad deal?

I know it can be difficult to obtain titles on them, what other sorts of problems can this create if I were to purchase this park? 

Best,

SVP

Thank you everyone! 

I appreciate all the great feedback. 

As far as whether it is bothering anyone, I havent heard of anything directly. However I also know that some are better kept than others. The one that is visible from the entrance is the one in the worst state. Hence the urge for me to want to help them clear up their space. Additionally, the one with a kitten litter hanging out in the yard out of a wardrobe, its in violation of the rules and regulations of the park. House pets are allowed but have to be licensed and registered. Though I dont know for certain, I have a feeling these are strays and probably can be vectors for infection for the other, registered animals in the park. I also think as my first act as a owner, its important to review the rules and regulations and make sure everyone is actually complying. Im sending out certified letters today to make sure that happens and that everyone is aware of an upcoming site inspection. 

Really appreciate the support everyone! 

Thank you everyone! Fortunately, this park is all TOH. That's why I wasn't certain how much legal grounds I have to implement such changes. The rules and regulations are very clear. They just haven't been implemented by the previous owners. I am at 100% occupancy so its really not to attract new residents as much as to just make this park up to my own standards. Put some money back into it with regards to lighting and roads. And hopefully that makes the resident less resistant to the increase in rent coming at the end of the year and the  bill back on the water/trash expense starting at the end of the summer. 

Thank you that's a great point, @Frank Rolfe! Will update with results.