I am about to purchase my first Moblie Home park… what things should I be looking out for? I am going to check all records with the Health Dept., Code Enforcement, Sheriff’s Dept., and Zoning… Anything else I should be focusing on?
~Chris
You won’t regret the money you spend to educate yourself about this asset class and proper due diligence. Here’s what I recommend you purchase right away:
Huge Profits in Mobile Homes and Mobile Home Parks
and Deals on Wheels
There is a great article on due diligence by Ray Alcorn on the CREonline website. This isn’t the article, but it’ll give you an idea of what’s involved in proper due diligence.
http://realdataexchange.com/discus/messages/44/64.html?TuesdayOctober519991126pm
To the above list I would add verification of the soundness of the infrastructure (electric, water, sewer, or septic), whether or not it’s a good deal and exit strategies, too.
Definitely not comprehensive, but a start.
Good luck