MHP tenancy approval and investors

2 Replies

I understand that most MHP/Associations require approval via a credit/background check for perspective tenants for their lots.

To those who invest in units in parks, do you submit to these credit checks or are you able to have them waived after explaining to management you're just buying and flipping?

I'd like to get into flipping units in parks but I'm not comfortable submitting personal information to park managers everytime I buy an in park unit.

As a park owner, I can tell you that I would never approve an application that was incomplete, including information needed to run credit/background.  Incomplete application or failure to sign off on the background check equals automatic denial.  This helps to protect us from potential fair housing violations, we have to treat every applicant exactly the same and follow the same process for every applicant.  Our rule is also owner-occupied only, no investors.  I realize not all parks are the same as ours, but I offer that for another perspective.

An important thing to keep in mind is that when you play in somebody else's playground, you have to play by their rules.  As a park owner, these rules are absolutely necessary for me to protect MY investment, which is substantially more than what you will invest in a single home.  That is not intended to sound arrogant, just stating my point of view.

Our park was the wild west when we took over because previous management/ownership had few rules and enforced them differently for different tenants.  For that reason, we bought it at a discount.  The previous owner failed to protect his investment and we don't intend to make the same mistake.

Originally posted by @Adam Johnson :

As a park owner, I can tell you that I would never approve an application that was incomplete, including information needed to run credit/background.  Incomplete application or failure to sign off on the background check equals automatic denial.  This helps to protect us from potential fair housing violations, we have to treat every applicant exactly the same and follow the same process for every applicant.  Our rule is also owner-occupied only, no investors.  I realize not all parks are the same as ours, but I offer that for another perspective.

An important thing to keep in mind is that when you play in somebody else's playground, you have to play by their rules.  As a park owner, these rules are absolutely necessary for me to protect MY investment, which is substantially more than what you will invest in a single home.  That is not intended to sound arrogant, just stating my point of view.

Our park was the wild west when we took over because previous management/ownership had few rules and enforced them differently for different tenants.  For that reason, we bought it at a discount.  The previous owner failed to protect his investment and we don't intend to make the same mistake.

 Hi Adam,

Thanks for the insight. I can certainly appreciate your perspective as a park owner, needing to protect your investment. I'd have similar protocols in place if I was in your shoes.

I was just curious as to whether the Lonnie Deal and buy/flip investors usually submit to the same approval process(credit/background check) as a regular home buyer/park tenant would go through. 

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