Couple smaller parks vs 1 larger?

mobile home university
1

I have been looking at parks within a reasonable distance from my home for a couple years.

My budget has been around 1 million.

So far I haven’t found a park that fits my needs.

Price, condition, and close.

I recently came across 2 parks about 45 minutes apart for sale. If I combined the purchases I would be close to all of my criteria.

What are the pros and cons of multiple smaller parks vs 1 larger?

Thanks

2

Personally, all else being equal, I think two small is better than one big. It is somewhat less efficient but more diversified and therefore less risky. Also, you will make mistakes twice as often for half the cost, which is a valuable education. Especially if you intend to grow. Going from 2 to 3 is a bolt on acquisition, whereas from one to two you have all the problems as zero to two so why not take the big plunge early.

1 Like
3

Good points, appreciate the feedback.

4

Assuming this is your first park I would buy one and get hands on knowledge before buying the second one

5

My first park but RE investor for over 20 years.

Appreciate the feedback

6

How many spaces each? How difficult is it going to be to have management cover both sites?

Otherwise, I like the spread of risk and the fact you could focus on improving one at a time and applying lessons from one to another as @Brandon suggested.