I am looking to purchase my first mobile home park. 95% of the homes in the park are tenant owned. What trades should I have out to inspect the park? I figure I would have a general contract inspect the 2 park owned homes. But am unsure whom to contact to inspect the park? Thank you for your input in advance. I want to have all my bases covered.
A plumber should inspect the water and sewer lines, check out the sufficiency of the clean-outs. Running a camera through the sewer lines will let you know their condition. If you have sub-master metered natural gas the plumber may be able to test the system out for you.
If you have a lagoon or treatment plant you will need to find an expert in that area. If you have a well then you will need someone qualified to test it and review the well records. If the park has septic, then you will want to have them inspected by someone who knows septic systems.
An electrician can inspect the electric system including the lines, poles and boxes.
There are so many other things to check out in due diligence that I recommend buying the Mobile Home University's "The Mobile Home Park Due Diligence Manual" to help you protect yourself.
One very important inspection I didn't mention specifically, but should not be forgotten, is obtaining a Phase 1 environmental report. The due diligence is very important. A short podcast on due diligence can be found at MOBILE HOME PARK MASTERY: EPISODE 12
Phase 1 environmental study is an absolute must! They cost around $1500-$2000 and are a very in depth title search nationwide. Its a pretty cool report and shows you the history of your land going back to the beginning of time. Other than that, I would make sure to inspect sewer system (septic, city sewer camera, lagoon). Those are the two areas that will cause you the most trouble and are usually the big dollar items from our experience. Checking out the previous 6 months water bills will tell you a lot about the water lines and leaks, etc. Good luck!
@Frank Calderone It may also be to your benefit to have any costs estimated you aren't familiar with ( i.e. road work, tree trimming etc. Those costs can be substantial and need to be accounted for in your numbers. Great comments by the other posters.
Thank you very much everyone! Really appreciate it a lot!
@Frank Calderone there is a great book called 30 days of Due Diligence by Frank Rolfe over at the mobile home park store dot com. You WANT to read that book!
Thank you @Josh McCullough Appreciate it and will take your advice!!
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