Looking to purchase a mobile home park

[Erick Garske]

I am interested in leveraging the funds from a the sale of two residential rental properties currently on the market into a 1031 exchange. Generally, I am looking for:

Areas with increasing population

Avoiding A Class mobile home parks

Mom and Pop Parks

At Least 10% minimum Cap Rate Going In

Easy Rent Increases ( $10, $15, $20 ) per pad

Cost Reduction Options Turn Utilities over to the owner

No Park owned homes

Not in a Hurricane Zone

In an area not dependent on a single industry with a diverse economy

Offering Seller financing with 10% to 20% down.

I am not interested in a JV arrangement that would split the income 50%-50%. I've seen that being offered on numerous occasions but I believe better.

Thanks,

Erick

[email protected]