5 mh’s not really a park?


#1

Hi! New to the forums and looking around for first park to buy.

There is one in my state, it’s just five homes but they appear to be on a cul de sac in a subdivision (15 miles outside of a town of 20k and 25 mi from a touristy beach metro area of 450k) not really a MBH park.

But if the land values, lot rent etc look good, if I can get it at a good cap rate, is there anything lost or dangerous about it not being in the typical park situation?

100% occupied, sep water meters…

What else besides the usual stuff would you look at if it’s not an actual park?

Thanks!
BC


#2

I would check and confirm that it is zoned for the purpose that it’s being used for.


#3

See this recent post on 4 space parks:


#4

Bear in mind that one vacancy reduces your occupancy to 75%.