Need some help re: Mobile Home Park - Posted by Jim Holmes

Posted by Jim Holmes on January 14, 2000 at 24:58:10:

I’m about to look at a mobile home park that is for sale. The numbers look pretty good and my financing is in order to make the offer. My concern is that up until now, I have just bought single-family homes and duplexes.

Carlton does not go into buying “parks” much in the course. This is a park with 30 units on it. Does anyone have some experience about buying parks. Please post any advice on this matter that you can. I guess I’m worried about hidden costs, pitfalls, and what happens to depreciation on these units? Does the investment hold value and appreciate or is there a decay over time?

Thanks in advance,

Jim from Idaho