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Investing in Mobile Home Parks with Kate Stephens

On today’s episode, we are talking about investing in mobile home parks with Kate Stephens. Kate and I have partnered together and are hoping to find a great park to buy in the near future

Investing in mobile home parks

Investing in Mobile Home Parks

  • Check out the full blog post I did last year on our mobile home park purchasing dreams here.
  • And here is a more detailed follow-up of the three promising parks we visited last summer.

How to Find a Mobile Home Park

  1. Determine areas of the country where we wanted to focus (and where we for sure wanted to avoid – we basically wanted to stay in the midwest to avoid expensive parks on the coasts and parks in hurricane zones)
  2. Focus on smaller parks – less than 100 lots
  3. Analyze the metro area to assure it met our criteria – 100K+ population, $40K+ average income, $100K+ average home value
  4. Create mailers to connect with park owners

This was very successful and we had about 12-15 calls. We could then gather more information to further evaluate if the park was a good fit for us. We wanted public water and sewer, so that was the first piece of info we confirmed. From there is was confirming the rest of the information and learning how many homes were filled within the park. Check out this blog post to learn about the three deals that fell through.

Links Discussed In Today’s Episode

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