Mobile Home Park Purchase
Hi All. I am entering into a contract for a Mobile Home Park (MHP) soon. The seller and I have already agreed on a price and I have received the contract. Before I move to the next step I have been reading a book from owners of Mobile Home University that says they only value the income from the pads only in calculating the value of the park, and not the rent from the units the park owns on those land. The park I am looking has just about 100 lots and of which 40 lots have park owned homes. While I understand their concerns, I want to know if anyone else share their point of view.
Does anyone have any experience with this type of a situation?
Any guidance would be appreciated.
RJ