I took Frank and Dave’s bootcamp in San Diego, May 2012 and flipped through their study course book/listened to CDs. I already have investment SFRs and an experienced architect/urban planner. I want to buy MHPs but gun shy in pulling the trigger.
MHP deal evaluation seems to have more factors to assess compared to SFRs. I have the copy of the evaluation spreadsheet from Dave and Franks bootcamp however little bit intimidated by it because of detail it has.
question 1) Besides using Lotrent X pad # X .6 formula. Is there a quick evaluation spreadsheet that will take few minutes to evaluate and compare multiple MHP listings.
question 2) Generally brokers listings bundle income of park owned homes, lot rent and (sometimes even vacant lots) in one P&L to show high CAP.
what is the industry norm in making offers? Do I put a park under contract at the asking price and then negotiate during due diligence. Or do I make offer at the price that I am comfortable paying?
question 3) how do you send /make offers to broker listed MHPs?
question 4) How can I get over my shyness in acquiring a park and making offers. ( Worried that I will make huge mistakes in buying my first park as it is a new type of asset class for me)