Mobile Home Park Offer Sheet
Hey all,
We are looking to make our first offer on a mobile home park. I would like to present the terms in a simple format prior to presenting any type of contract. Also, since we are offering a decent amount less than the asking price ($600K offer / $900K asking). We based our offer on our realistic (IMO)valuation based on a lot of the advice we have read here and other MHP investing books. We separated out the NOI for the lots and added back the wholesale value of the park owned mobile homes. I was also thinking about providing an explanation on how we determined the offer price. Does anybody have any suggestions or templates for an offer format? Also, any thoughts on whether I should share the formula I used to determine the value?
Best Wishes,
Justin Denham