Updated about 2 years ago on . Most recent reply
Mobile Home Park
Investment Info:
Mobile home commercial investment investment.
Purchase price: $124,200
Cash invested: $24,280
Purchased 9 lots, all homes are tenant owned. 14% COC return.
What made you interested in investing in this type of deal?
I've taken a lot of multifamily/syndication training and I'm a General Partner on a syndication team.
How did you find this deal and how did you negotiate it?
It was on the MLS
How did you finance this deal?
I negotiated a seller finance deal
How did you add value to the deal?
Increased rents
What was the outcome?
Really great returns.
Lessons learned? Challenges?
Evicting tenants when they own their own homes is difficult.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I'm the Real Estate agent who brokered the deal.
Most Popular Reply
Can you tell us more about evicting people out of the TOHs?