Purchase of Mobile Home Park #3

[Matt Boettinger]

Hi All,  My partners and I closed on my third mobile home park.  79 spaces located in Florida.  Appraised for 60% more than the purchase price with lots of upside.  Rents are significantly under market.  The market has a significant shortage of affordable housing with low unemployment.  We hope to double the value in 12 months.   

This deal didn't come easy.  We first made contact with the owner over a year ago when we heard he had an interest in selling.  It took a lot of time, energy and relationship building to get it to the closing table.  But this was a good deal so it was worth it.  

Thanks!!

Matt