Updated 3 days ago on .
Looking to Buy a Mobile Home Park Out of State
Hey BP! I am in my 1st year out of college working at a commercial land acquisition company in North Carolina. I am currently looking to purchase a mobile home park just outside of Memphis, TN, where I am from. Trying to get as much information from the seller about the property as possible. What are some things I should be asking and information I need to make a sound decision? They have had a person on site that just collects rent every month; that is the extent of management they have currently.
The seller is not interested in seller financing the entire deal. He has some health issues; he said he wants to have cash on hand to deal with them in the upcoming years. From a financing standpoint, what are my best options?
Any and all information/advice would be great! Thank you everyone so much for your time and knowledge!