How to Evaluate a Mobile Home Park Opportunity (Part 2/4)

Wednesday, July 12

Scenario 1Let’s assume you’re browsing through listing on the Mobile Home Park Store or LoopNet and come across a park in a good area that has the following:Total Lots: 55Occupied: 45 (6 are park owned homes; all 1990s)Vacant Park Owned Homes: 4 (1990s)Vacant Pads: 6Lot Rent: $300 (Market Rent $3...

How to Evaluate a Mobile Home Park Opportunity (Part 4/4)

Monday, July 10

Scenario 3Total Lots: 108Occupied: 101 (0 park owned homes)Vacant Park Owned Homes: 0Vacant Pads: 7Lot Rent: $305 (Market Rent $340)Well/Septic4 Unit Apartment (occupied @ $650/mo)1 Single Family Home (Occupied @ $750/mo)For this last scenario, we threw in a four unit apartment and a single famil...

How to Evaluate a Mobile Home Park Opportunity (Part 3/4)

Monday, July 10

Scenario 2Total Lots: 155Occupied: 104 (26 park owned homes; all 1970-1990; 5 notes: $20,000 balance)Vacant Park Owned Homes: 14 (1970-1990)Vacant Pads: 37Lot Rent: $270 (Market Rent $295)City Water/Sewer; Park PaysLet’s speed this up a little and get the value for the land lease component:104 x ...

How to Evaluate a Mobile Home Park Opportunity (Part 1/4)

Monday, July 10

In this section, we’ll talk about how to evaluate a mobile home park opportunity. To start with, I’ll introduce you to some quick and dirty math you can use to gauge initial interest and then we’ll dive into what normalized expenses look like for a mobile home park.Quick and Dirty!First up, let’...

How to get started Sourcing Mobile Home Park Leads (BONUS)

Monday, July 10

Hiring Employees to Build a Database and Cold Call for YouNow that you have a basic understanding of the off market deal sourcing process, let’s focus some attention on hiring the majority of these activities out. For the exception of choosing your investing criteria, choosing your markets, and ...

How to get started Sourcing Mobile Home Park Leads (Part 9/9)

Monday, July 10

What to Do When You Speak with an OwnerDirect mail and cold calling are merely strategies designed to convert your cold leads into warm leads. Once you’ve established that a prospect is interested in selling, you need to shift your focus to learning as much as you can about the park in order to ...