All Forum Posts by: Andriy Boychuk

@David Song nice! everybody says it is hard to buy a mobile home park in CA but you did it. Nice job!

:) or my way if @Paul Stout is not interested :)


it is correct. However, please do not put a lot on filling up lots upside since it will require a lot of capital. @Gulliver R.

@Account Closed yes it does help. I add it to my "tool belt" :)

@Gulliver R. I agree with @Tyson Cross you should not focus on the cap rate as much. Here is the extreme example. 

50 units mobile home park on city water and city sewer 100% occupancy with the lot rent $300. The parks are well run with 30% expenses. The asking price is $1,800,000

Scenario #1 - the lot rent in another 4 parks around this park is $300
Scenario #2- the lot rent in another 4 parks around this park is $500

Scenario #1 rule of thumb calculation 
(50 x 300 x 12 x 0.7)/$1,800,00= 7 cap

Scenario #2 rule of thumb calculation
 (50 x 300 x 12 x 0.7)/$1,800,00= 7 cap - you have the same cap rate. However, the lot rent is $200 lower than the market rent. This is the extream example. Lets do the calculation again with the raised lot rent. 
(50x500x12x0.7)/$1,800,000=12 cap

Will it make sense to buy this 7 cap park with the scenario #2?

@Gulliver R. I do own a park where we had the asphalt road in the past but now it looks more like a gravel road. We got couple bids and the average was $30k for the project. Here is the park snapshot.

The concrete road is luxury :). I agree with @Account Closed "don't get hung up on it"

@Gulliver R. could you provide little bit more details about the parks so people can give you a better answer? #of lots, occupancy, lot rent $, utility types. 

@Jonathan Jewell here is a quick video on youtube I recorded https://www.youtube.com/watch?v=EUz7Ce1dyHQ

@Account Closed Vendors? Could you please tell us how do you approach them? Thank you

There are traditional ways to find MHP leads such as LoopNet, park store, direct mail, cold calling and etc. In addition to the traditional methods, do you use any other leads generation strategies/techniques? please share. 

I personally use IFTTT for craiglist. thank @John Fedro for introducing the tool :)

Here are some books I read already:

1. Mobile Home Wealth Part 2 - by Zalman Velvel
2. Trailer Cash: How To Cash In On the Low-Income Housing Investment Boom - by Jamie Smith
3. Park Place: How to Cash In on the Mobile Home Park Niche - by Tony Ferris