In this episode, Brian and I walk through recent case studies on two Mobile Home Parks that we recently went full-cycle on. We take a deep dive into the good, the bad, and the ugly aspects of owning mobile home parks.
In this episode, I discuss the top 3 ways to uncover great Mobile Home Park deals.
What You’ll Learn:
In this episode, we discuss the practice in grading mobile home parks with the "star" rating (usually one to five stars), which exists for no other type of commercial real estate.
What makes this interesting is that almost no one who uses the rating knows what it means or where it comes from. Ask a broker, lender, or even large corporate operators what the difference is between a three-star and a five-star park, and you will likely get a muddled response referring to amenities, paved streets, or swimming pools, but no hard data about how the stars are assigned or who does it.