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Updated over 1 year ago on . Most recent reply
Mobile Home Park Underwriting/ Insurance?
Hey guys, I'm currently underwriting my first mobile home park. The sellers have said "we don't pay any insurance due to it being an LLC." Is that a common thing with mobile home parks? I've just never heard of it and could really throw my expenses off if that were to be wrong. Thanks.
Most Popular Reply
Benjamin Aaker
Professional Services
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- Rental Property Investor
- Brandon, SD
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Don't fall for it. The fact it is in an LLC has nothing to do with hazard insurance and the LLC gives no protections there. Get a couple quotes from insurance brokers. They can usually give you a ballpark number if you give a few details about the MHP. You'll have no way of estimating this without this piece.