All Forum Posts by: Mike G.

@Eric Cecere RV parks are transient meaning people come and go. Its a cash based business and if you have a on site manager who is skimming or worse-off out right stealing, you and your partner could be in for a 1st class business experience. RV parks are day to day accounting and if you dont have the right people in place i wouldn't pursue it. Its up to you guys of course but make sure the sellers financials are verified. 

@Wendy Vaidic sounds like you have some members on the city or municipality board who are not mobile home park friendly and are trying to make life difficult. Meet with the city zoning and planning and dig and do some research. Also as another BPer mentioned earlier check on mobilehomeuniversity.com i know they have experienced this exact scenario before and have the experience and guidance on how to handle this. Search through their forums or just google it. You will find some credible advice and direction there i can promise you that. 

@Will Graham how far is the nearest walmart from the park? what employers are there currently? what employers are vacating the region? what employers are relocating to the area in the next year or so? 

city utilities is huge. as for my criteria if a park does not have that its a deal killer for me, especially investing in a park out of state. Tread lightly

@Ian Tvardovskaya the due diligence book from mobile home university is the most comprehensive source for knowing what you dont know when it comes to due diligence on a potential MHP purchase? Are you paying cash or do you have financing secured?

@Jason Ray Richardson I am still looking to purchase my first park as well. How did you find yours?

@Account Closed depends, if your trying to finance the purchase then yes its probably too small for a MHP lender to want to get involved even if it cash flows and the seller actually has real and factual financials about the asset. 

If your doing a cash purchase then on the surface it does not seem to small. May be a good started park to cut your teeth on. is there room for expansion? is there adjacent land plots that you could acquire from the city to add pads, utilities relatively easy? 

@Alex Hogle hard to say from your description there is a lot of details missing. Bill F. sure has some great questions that you should reply to . .  . .

@Kash P. 

mobile home university   the books and the boot camp are well worth the investment. 

@James Gravitt for more insight on this topic i would steer you toward a book called "Deals on Wheels" by Lonnie Scruggs. you can find it and his other books at cashflowdepot.com.