Looking to Buy a Mobile Home Park Out of State

Looking to Buy a Mobile Home Park Out of State

New to Real Estate · Memphis, TN · Member since 2022 · 95 posts · 71 votes

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!

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