Happy new year! I'm reaching out to you all to see if anyone has any connections to a few great CPAs that are knowledgeable in the way of mobile home parks? I would really appreciate it. Please drop a name and email/phone number :)
Thanks a million!
Mobile home park's differ very substantially from real estate with buildings on them.
Taxation differs as it depends on if you own the trailers/houses on the land.
There are potentially more components in a mobile home park that may be eligible for bonus depreciation.
Something to consider when speaking with your CPA.
@Gulliver R. working with a CPA that is familiar with mobile home parks will be of great value to you. As @Basit Siddiqi mentioned above, MHPs are a unique asset class and have some intrinsic qualities that make them more tax efficient than most real estate, but you will only have access to that tax efficiency if you have a CPA that understands them.
A couple good ways to find good CPAs to interview is by networking with other park owners in your state. Just ask them. Also, reach out to the MHA or MHCA in your state. Those associations are usually made up of mostly park owners, so they should be a great resource for you.
@Basit Siddiqi thank you for reaching out! But I have found a CPA. Thank you :)
@Jack Martin thank you for reaching out! But I have found a CPA. Thank you :)