Advise needed with Investing in a Mobile Home Park

[Ray C.]

I have been presented with an opportunity to purchase mobile home park off market with 450 pads that are 85% occupied. My contact tells me that the owner is wanting to move away and retire and their family wants nothing to do with it.  All pads are rental and not owned by the occupant. All mobile homes are owner occupied none of them are owned by the park.

Any advise on best process and procedures to evaluate the opportunity?

Thanks in advance

[Daren Jones]

Congratulations, this could lead to a great investment. Make sure you put the park under contract with due diligence contingencies. Then get into the financials, tax returns, P&L, current rent roll and talk to management. Sounds exciting.  Good luck.