New Mobile Home Park Development

[Larry Badgley]

New mobile home park development any suggestions for getting it approved by P&Z ?

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Originally posted by @Larry Badgley:

 and we like the communities to be 1/4 rental units. 

Hi Larry. I'm an owner operator with parks in multiple cities. You indicate that as a lender you prefer parks that are 1/4 rental units? Do you mean the homes are owned by the park and rented out by the park?

I've never, in my 20+ years of owning parks, heard of a lender having a preference for park owned homes. This is the anthesis of owning a mobile home park. When I look at buying a park I always heavily discount if not outright ignore the valuation and cash flow of the rental units when determining my offer. Every park owner and lender I know has the same policy. Rental units create overhead that detracts from the value and really the reasons for owning a mobile home park.

Can you elucidate your companies thought process of why they like to see rental units in a community?