Updated almost 3 years ago on .
Mobile Home Park Investment
Investment Info:
Mobile home buy & hold investment.
Purchase price: $400,000
Cash invested: $80,000
Small Mobile Home Park with 8 doors, Workshop, 2 RV Spots, and office. 5 Acres
What made you interested in investing in this type of deal?
Location and cash flow
How did you find this deal and how did you negotiate it?
MLS
How did you finance this deal?
Local Lender, 5 Year ARM, 20% down
How did you add value to the deal?
Pre-Closing: I am licensed so took my brokerage fee and used it towards down payment. Post-Closing: opened up storage units or rent to tenants, improved condition post-closing. Marketing RV spots now.
What was the outcome?
Successful closing and took ownership into the new year, Jan 2022
Lessons learned? Challenges?
This deal has been great so far, my only regret is waiting too long to setup new leases, I would have put that on the seller to execute for me prior to closing.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I am an agent, self-represented, worked with LA
