86: Rookie Reply: What Should I Look Out for on Mobile Home Parks?
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This week’s question comes from Adri) on the Real Estate Rookie Facebook Group. Adri is asking: I came across a seller financed mobile home park, this would be my first out of state investment. What should I be looking out for on MHP (mobile home parks) and is this a huge jump to make while still being a rookie?

While we can’t answer how ready Adri is for investing in a mobile home park) (we believe in you), we can answer questions about what to look for when evaluating a MHP deal). Before you consider investing, you’ll need to look at some mobile-home-park-specific factors.

Here are some suggestions:

• Make sure you** get accurate financials, especially a T12 rent roll** 

• Look at the utilities and see whether they’re public or private (wells and septics)

• Look at the capital expenditures (capex))** of the entire park**

• Find out **who owns the **trailers/mobile homes) and evaluate whether the current ownership is advantageous to you

• If you’re still nervous, partner up with someone)** more experienced!**

• And more in the episode…

If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group)! Or, call us at the Rookie Request Line (1-888-5-ROOKIE).

Links from the Show

• Real Estate Rookie Facebook Group)

• Rookie Podcast 65: Multifamily, Mobile Home Parks, and Commercial Deals: All in 2 Years! with Tommy Polise)

Check the full show notes here: https://www.biggerpockets.com/rookie86

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