I was wondering where I could find mobile home parks for sale? Also for anyone that has owned a mobile home park what are the pros and cons to owning and if so is it located near where you live or out of state? Thanks!
Unless you're a large fund or REIT, your options for finding good MHP deals are mostly limited to wholesalers and direct to seller marketing. Most deals that hit sites like Loopnet & Mobile Home Park Store are terrible deals. And, when I say most deals, I mean every single one. That being said, folks have made good deals out of those terrible deals by reaching out to the sellers or brokers and building relationships. However, stick to the smaller parks (less than 100) - anything bigger and you don't stand a chance up against those institutions that are happy going under contract at a 3% cap rate.
Moral of the story here is that it's all about building relationships in this business. However you go about this, that's the best way to find deals. Start calling brokers (if you have your finances in line). Start reaching out directly to sellers in your markets of choice. Nothing will happen over night but it sounds like you are still in that education phase so that isn't a problem. Keep learning and keep networking! There are some fantastic, free resources out there, like the MHP Tribe group on Facebook.
Hope that helps a bit. Please, feel free to reach out anytime if you have other questions of just want to chat.