Mobile Home Park Due Diligence | Important Facts To Know
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Buying mobile home parks involves a lot of due diligence to protect yourself from taking huge financial losses! Check out this walk around video where I get into several aspects you need to be considering to understand what you are buying.
Mobile home parks are a complex form of commercial real estate and due diligence will make or break your investment. In this video I walk around a property we are doing an onsite inspection (physical DD) on and I talk about things we look for.
My partner Doug (aka my Dad) and I look at our business plan and compare it to what is out on the property when we get there. We use forms to ensure consistency and to make sure we don’t miss things.
Measuring and taking pictures of what we find ensures when we get back to the office we have a thorough understanding of the property so we know what else we need to investigate BEFORE closing.
I talk about aspects of this specific mobile home park that are attractive to real estate investors and how that effects the management and cashflow of the property.
Watch until the end where we go through how we look at each and every vacant lot!