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I am also interested. I just looked at one half an hour south of me: 30 lots, 21 filled, no park owned homes. I am trying to figure out if it makes sense to pursue or not as the seller had it for sale last summer and turned me away as it was under contract and is now asking $450k. It certainly is outside of my expertise as I’ve only done one Lonnie Deal ever (not a ton of mobile home parks where I live).
Greg.Don et al,
I’m interested in 44 states. Except CA, OR, WA, NV, AZ, AK and HI.
West coast has cap rates that are far too low. Alaska is too cold and HI has no MHP’s.I prefer the Midwest and south.
BTW, make sure when you looking at the park financials that the NOI does not include any notes held by the park. When the note runs out, so does the income/NOI.
It alters the NOI and thus the value.I am not interested in parks that are mostly or all rental parks, aka – no tenants own their homes.
Let’s keep this going,
-Michael
Hi Mike, Greg and Don:
If you would like to connect and brainstorm about investments on mobile home parks, I would be very interested. I did a 3 day workshop with Frank Rolfe who has purchased and operated hundreds of mobile home parks in 20 different states and is one of the leading educators on the subject in the US. I would be willing to share the information on due diligence and a multiple of different topics on purchasing and investing in parks. Please let me know my email is: [email protected].
Thanks,
GaryFolks,
I can put together a zoom call. I already have Gary’s email and have been emailing with Jay so I can add him. Let’s do a zoom call this week to talk about mobile home parks. I really want to get going on these and have a lot to learn but I think there’s a lot of brainpower on this site to resolve any challenges. How about Thursday night this week? Send me your email and I will set it up.
Thanks!!
GregHere we go! Non-sanctioned CFD call, however all are welcome! Topic is mobile home parks–a few of us are looking now and I’m hoping iron sharpens iron.
Greg Christiansen is inviting you to a scheduled Zoom meeting.
Topic: CFD Mobile Home Park Zoom Call
Time: Jan 28, 2021 07:00 PM Central Time (US and Canada)Join Zoom Meeting
https://us04web.zoom.us/j/71243765516?pwd=VjN4VzFVc3pGRkVjTUlzV2FiazYrdz09Meeting ID: 712 4376 5516
Passcode: bd9hEyJackie-of course we all would welcome one of your conference calls! Especially with mobile home experts. Not knowing your schedule and this being last minute I just wanted to get something going. If tomorrow is too short of notice it sounds like there are a few folks looking at parks, so I am sure lots of folks would love a call next week.
Greg,
I also am interested in the mobile home parks investing zoom call. Please add [email protected] to your invite list. Thanks!
MaryPs. I saw this guy on a cashflow expo webinar this weekend Mobile Home investing
John Fedro. [email protected]
Mobilehomeinvesting.net
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