All Forum Posts by: Khizer Husain

@Frank Rolfe Whatt about bringing on professional management in RVV Parks? Do banks refinance RV parks? Private lenders? Most decent parks go for sale at 12 cap higher and most sellers are willing to carry the note and stay on as management for sometime. 

@Frank Rolfe MHP are very competitive. I am interested in RV Parks. I feel like this is the next area of potential. Whats your opinion? Have you ever owned one? Do banks finance RV park purchase?

I am looking at a Park. What are some things I should look for @Austin Neal?

How hard is it to get TOH in vacant lots? This is with the assumption that it is a decent area and all infrastructure is complete. Are there anything that tenants want in a community to really strive hard to bring them there? @Frank Rolfe

Come across a nice small MHP. The lots are ready. However,  some need new electric poles, some need sewer line repair, some need water line repair, some need tree removal/trimming. It would be rare in any park to be able to just set a home on the lot and hook it up. The fact that the lots are there with the infrastructure (streets, electric, water, sewer, driveways) is obviously much better than building from scratch, however many do need repair prior to home delivery if you plan to infill. It's a former ARC park that was full in the early 2000's.

What kind of cost per lot could I expect for the above work? (AGAIN LOOKING FOR BALL PARK FIGURE)

Some sellers are counting their rental income of POH + lot income into the cap rate. I only take the lot income revenue to determine the cap rate. Is there something I am missing? @Frank Rolfe

Go for private lenders (hard money)

@Elise Marquette Thank you. Rental income has been around for 2 years and I want the loan to buy property on cash and then Refi it to pay back the cashflow loan. 

50-100 

@Frank Rolfe How do Rehab loans work for MHP? Do lenders give rehab loans similar to Multi-family for upgrade of the park or is that out of pocket? 

Thanks