All Forum Posts by: Charlotte Dunford

@Jingwen Dunford he is a great manager. But how do I deal with tenants like this? They are impossible. They are Late on rent every month. Bad attitude. Blame us for any property issues that aren't our fault. Too many repairs. Help!

I have a property manager who said that they cant handle my current tenants as they are always late and needs repairs, and calls him 17 times on Saturdays. He wanted to let the property go. Is this normal? I thought the property manager can't ditch you?

@Jack Martin Thanks Jack! Would you say smaller parks are mostly sold based on seller financing, ie at a huge discount?

What is a mobile home park supposed to be zoned as? It shouldn't be zoned as R3 right as that's commercial?

@Paul Barbeau I agree. I just see it so frequently and I'm assuming that they priced it like that for a reason right? Obviously they expected somebody to pay for that.. are they targeting a different buyer type? I seriously don't understand who they are targeting

This might be a silly question. I'm finding lots of parks with the value add already included in the price. For example - current value is at 500k, after value add (raising rent, decrease expenses), the value is projected to be

$1 million. Then they price it at $1.3 million while it's only worth 500k. My question is: if an unstabalized asset is going to sell for just as much as a stabalized asset, why would anyone even bother do an value-add?

How do you compare rent comps when there's no other mobile home park in your immediate area/city viable on Google map?

Are MHP's mostly for 55+ and senior communities? What other customer segments are there that you've experienced?

@Frank Rolfe many thanks!

I understand that it might be tough to sell a small park outright without me carrying the note, for example 10-20 lots. Would it be more likely to sell outright if I were to bundle up many parks with a total of 50 units as a portfolio sale? Is there a buyer's pool for portfolio sales for MHP? Thank you in advance!