Thanks for tuning in to episode 16 of From the Nest Podcast!
Links Discussed in Today’s Episode
Mobile Home Park Store: This is where you can find mobile home parks for sale
Loopnet: Another great resource when buying commercial spaces
Park Street Partners Podcast: If mobile home park investing is really interesting to you, check out this podcast.
Mobile Home Park University: The 3 day course we took that was extremely valuable
bestplaces.net: Great resource to find info on metro areas where parks are located - population, average household income, average home price, etc.
Investing In Mobile Home Parks
And here is a more detailed follow-up of the three promising parks we visited last summer.
Our process for finding parks:
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)
Focus on smaller parks - less than 100 lots
Analyze the metro area to assure it met our criteria - 100K+ population, $40K+ average income, $100K+ average home value
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.
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