For the better half of the past year, I've been learning about the mobile home park niche and becoming acquainted with many of the nuances. I'm getting to the point to where I'd be comfortable taking the next step and seriously looking at some opportunities.
Ideally, I'd like to find a park in Metro Atlanta's I-75 Northwest corridor (Bartow County, Floyd County, Paulding County, etc.). I'd be open to exploring opportunities within the entire state of Georgia but would not want to cross state lines for my first park. I'd love to eventually work my way into FL, AL, and TN after I get a few parks under my belt.
A couple of other wishlist items:
- Seller willing to consider owner financing
- All (or at least the overwhelming majority) of trailers to be tenant-owned
- City sewer
Above all, I'd really just like a solid park that would make a good first deal to get my feet wet. It'd be great to find something where we could add a bit of value and optimize management/profitability, but on the same token, I'd rather stay on the more conservative side to avoid catastrophe on deal #1.
@Chad Carrodus It seems like you have identified the type of park you are looking for and geographic location so you’ve done a good bit of the work. My advice would be roll your sleeves up and search for the park yourself. Don’t rely on someone else to do it as most will keep best deals for themselves or if they’re a broker offer it to their top clients first. There are plenty of places on line to find mobile home parks that meet your criteria. Once you identify you can search tax records etc to find owner and call them or send a personalized letter. Alternatively you could take a day or 2 and drive the location you are interested in and jot down all the parks that look like they might meet your criteria and research from there. Yes I trying to find opportunities on your own requires more work, but I think you’ll find the rewards well worth it. Best of luck!
I am in South Georgia and continue to look for the same type of deal. I do not have the liquid capital for some of the opportunities I have found but am moving forward in a number of areas.
Below is a link that you might find interesting. Good luck. This MHP is in Hampton GA.