Mobile Home Park management at a remote location
Hi there BP experts:
I am considering investing in Mobile Home Park and I would like to get some advise here on how to proceed. Suggestions on how to manage a MHP that is in a different state? What are the things to absolutely avoid when considering purchasing a park? Is it better to own the homes or just rent out the lots? Do you need to have commercial loan or can it be a regular conventional loan or it needs cash only? If commercial loan, any suggestion where to research loan for this type of investment? What do you consider good deal - do you just consider cap rate? Thank you very much in advance!!!