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Mobile Home Park Investing

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John Wang
  • Bellevue, WA
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Any park owners/investors in WA?

John Wang
  • Bellevue, WA
Posted Mar 22 2014, 19:36

I'm in Seattle. I've been working on purchasing a park in WA for about 18 months now. I've done feasibility on a few deals now that ended up not being deals due to land-use permitting issues and dishonest financials from the sellers. The biggest issue is that people sell parks at 5-8 caps here instead of 10 caps so finding a deal involves picking up a park that requires some investment and work to get it up to a 10 cap with 1-2 years post purchase.

I'd love to meet some other owners/investors in WA to ping questions off of. Anybody in WA or the Northwest here on the forum?

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