Documents before and after an offer

mobile home university
1

What are the documents that I am requesting in order to make an offer?

Second what are the documents I am requesting in order to do my due diligence?

Thanks!

2

The documents for your due diligence will shape your opinion about the price and terms you stipulate in your offer letter.

I request:

  1. previous 3 years’ financials (please break-out rents from any mobile homes vs. lot rent)

  2. rent roll, demographics of tenant base

  3. competitive study (rents, occupancy of nearby mobile home parks)

  4. market overview (key employers in the town, government regulation of mobile home parks)

  5. photos, and

  6. owner’s reason for selling

Virtually no mobile home park seller will ever have more than 3 of these, so you’ll need to do some digging yourself.

Then, in one offer letter, make 3 offers:

a) A full-price offer structured as a lease-option

b) A lower offer that requires seller financing

c) An even lower all-cash offer

Your mileage may vary,

-Jefferson-

Please join my ‘Mobile Home Park Investors’ group on LinkedIn

3

Thanks! That is extremely helpful!