I’m in Iowa, visiting the first MHP I’ve put under contract. It’s a small park, only 19 lots rented now out of 36 total. Had a 1:00 PM meeting with the engineer doing the Phase One Environmental and as I come up to the park I see police cars and fire trucks and smoke coming from a trailer. Heck of a first visit to the park.
As it turns out though the trailer belongs to a former manager of the park who was using it for storage and wasn’t paying rent. So I’m not out a paying tenant if the trailer is trashed, although the current owner of the MHP might be out the money to get rid of the trailer if the trailer owner abandons it.
But the park looks like a good deal. It’s on city water and sewer. The city utilities director remembers the sewage system going in 20 years ago and thinks it should be in good shape. Might need to replace the water main sometime but the city says if the park owner buys the pipe they will pay for the installation. The city is small but growing, and only 25 miles from Des Moines. The city seems to be well run and ready to be very cooperative with someone trying to improve the park.
And the current non-resident park manager looks great. He is a supervisor at a local agrichemical manufacturer. Owns his own house and a triplex, a family man and church goer, both ambitious and a nice guy. He and his wife invited me to dinner - home cooked Mexican food. He is well connected with and respected in the Hispanic community and should be able to find buyers for houses I bring in.
I’ve been looking for about 9 months. Got to say, going to the bootcamp in San Angelo was pretty important. That taught me what to ask before deciding to put the park under contract and arranging a visit. And the questions I’ve been asking here of the city and the park manager mostly came from the bootcamp experience. Thanks to Steve and Corey!
So now I’ve got to start the process of looking for my next park - ideally within a few hours of the airport in Des Moines.