I am buying a small MHP - What should I look for?


#1

I am buying a small mobile home park about 20 minutes away from my house and have it under contract. I am going out next week to inspect the property and make sure it is a good deal. What should I look for? I want to make sure that I don’t buy a “lemon” and making big money mistakes.

Thanks.

Susie


#2

Susie,

The best thing you can do is invest in the mobile home bootcamp. I lost $300,000 on my first park with all of the mistakes that I made… $300,000! There are too many things to look at when purchasing a mobile home park that it would take me at least two days to get you up to speed.

Some quick things:

Infrastructure

Electric meters (200 amp)

Lot sizes

Code violations

Zoning requirements

Potential environmental issues

Review at least 2 years of financials

Corey