All Forum Posts by: Rene D.

I was looking for a meetup for MHPs but unable to find anything so I thought to ask here. Or if you know of anything happening in-person please drop it here.

Thank you!

1 Vote

Good luck @Mel Adams, following as I'm in the same boat.

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Hi, what is a good/average pad size? I know it depends on single vs double wide but some parks I am looking at are approx 40x85. Do you verify all pad sizes during DD when purchasing?

Thank you.

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@Barrett Bridgewater thank you.

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Houston, Texas

Quote from @Barrett Bridgewater:

Using the FEMA Flood Map is intuitive. Your lenders (who mandate flood insurance in flood zones) contract with 3rd parties who provide them "flood zone determinations." Guess what they use? Yep, the FEMA Flood Map.

However, we have proven a lot of inaccuracies on the FEMA Flood Map. Their maps are developed at a high level, painting flood zones across vast areas. So if we zoom in... we find the inaccuracies happen at the property level.

That means... there a hundreds of thousands of properties out there that could qualify for removal from the high-risk zones (which removes lender mandate).

If you can find one of these properties you can flip the flood zone designation (we call this a "Flood Zone Flip"). That increases the property value. And if you can do this before closing... that's extra cash in your hand at the closing table.

@Obi Nwapa

@Eliott Elias

@Andrew Thomas Vedderundefined

Great info @Barrett Bridgewater! How can you go about Flood Zone Flipping? Or maybe a better question is how to first determine if there is an inaccuracy on a property you are looking at?

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Houston, Texas

If anyone has a park in a flood zone, can you share what size your park is and what you are paying for flood insurance? I'm considering a park in a 100yr flood zone.

Anything I should be mindful of?

Thank you!

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@Austin Elm just at a quick glance it doesn't seem like all the expenses are captured. ex: trash, snow removal (if needed). legal & professional, permits, wlll you be self managing, advertising, etc to name a few.

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@Mario Dattilo thanks so much Mario, so much great info! Unfortunately after talking to the broker, it sounds like they do not have any owner info on these untitled homes so it looks like I would have to go through abandonment.

1 Vote

Congratulations on taking action! I am excited to watch your progress and wish you a smooth renovation.

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Columbus, Ohio

All Forum Posts by: Rene D.

Rene D. has started 28 posts and replied 237 times.

Post: Investing in MHPs

Post: Anyone in So Cal - (OC specific) interested in a meet-up?

Post: Mobile Home Park Lead + Equity Partner

Post: Pad Size - single vs double wide

Post: Avoiding Flood Zones

Post: Avoiding Flood Zones

Post: 100 YR Flood Zone (Insurance)

Post: [Calc Review] Help me analyze this deal - Mobile Home Park

Post: How to get Titles for MHs

Post: FIRST MOBILE HOME FLIP EXPERIENCE AMAZING MARGINS - Q&A