All Forum Posts by: Tim Brown

Contact Frank and Dave. They are owners of Mobile Home Park University and assisted by Brandon who runs many of the aspects of the organization. I think you'll find their information very useful.

The #1 Source To Learn Mobile Home Park Investing - Mobile Home University

Hey Cody,

You have dropped a lot of information. I'm an Army vet. You've asked great questions. However, the answers aren't as black and white - multiple variables. First, thing I'll say is that I am also in the DMV, so I'd love to connect with you offline. Second, the type of real estate depends on your overall objective - growth through appreciation/income through depreciation; income through cash flow; growth through value add opportunities, then equity pull. I've done wholesaling through estate acquisition opportunities, and had a 16 duplex opportunity in Detroit right at the start of COVID, which crashed and burned. Now I'm on MHPs, for several reasons. At your convenience, drop me a line (I just learned that my post was blocked because I had given my email address I guess I should have said "1 tim brown at outlook". Then add the dot com at the end. (This is my spam email account until we actually connect). (Let's see if this works.)

Best,

Tim

I have no experience with parks, as I am still in search of my first. It's not really a park issue, but a real property issue. However, despite the sticker shock, I would think that you'd not necessarily need a survey, but want one. How do you know what you are buying? What will you actually own? I'm surprised that the lender doesn't want one. That said, I guess the upside is that as long as you own the land that the park is on, the nonproductive land is irrelevant, as the loan in part, is predicated upon NOI and ability to carry debt service. The additional land is a potential plus, but not a negative. Probably why the seller didn't get one. Just my thought. Love to know what you decide. Good luck!

I am seeking any agents/knowledgeable people who can tell me or point me to where I can find cap rates for particular areas. Right now I am looking of cap rates for MHPs in Nevada.  Please advise if you can. Thanks.