All Forum Posts by: Tyler Wagner

Hey Justin, yes it's the mattawan park. I haven't done any dealing with them yet just trying to figure out how I could make it work if I pursue it. Have you had any communication with the owner or the agent of the mattawan park? How's the process going on the park you're interested in?

Marshall, the property was obviously poorly managed and wasn't marketed well because there is plenty of need for affordable housing in the area. Out of state owner seems to have not cared about the park much at all. 

I've never heard of the 21st cash program, do you mind explaining what that is? Thanks for the well wishes!

That's something I didn't even consider. Thanks for sharing. How did you go about getting around that issue? Did you leave all the homes in or did you replace one by one?

I've got a lead on a park in a great location and school district, but the place is an absolute dump and is below 10% occupancy. I did a drive thru yesterday and it needs a complete overhaul. There are 20+ vacant homes that look beyond repair and frankly if they were salvageable, they wouldn't be up to the standard that I would be hoping to create in a fresh new community. 

My question is, has anyone had experience taking on a project like this? If so, I would love to hear how it went for you and any tips for making it successful. 

If I aquire the property, I hope to do a master lease with option and have very friendly terms in the first year or so to allow me to turn the property around without the high financial burden on a property that doesn't make money. All thoughts will be appreciated!

Thanks for the advice everyone! I could come with about 4% on my own currently. At what point are the financials for the property strong enough for it to be feasible for that to work? Is there a certain cap rate that would give me a good chance? The property also has an asset worth about 20-30% of the purchase price that can be sold off so maybe I could leverage that? 

Hi all! New member and investor here. I'm curious if you need pre-approval before making an offer on a mobile home Park, or just put in the offer and figure out financing later? Or does it depend on the seller? I might be crazy for considering making a MHP my first investment but the deal seems like a can't miss opportunity and I want to act fast. Thanks!