Looking for a profitable mobile home park is like looking for a partner. Surprised? Don’t be. Both searches start by defining detailed and specific purchase criteria.
We want to know when we’ve found precisely what we’re looking for. That means selecting specific, actionable criteria. When you’re looking for a partner, you think beyond, “They have to be cute and friendly.” Our criteria also include things like, “They should be adventurous, spontaneous, playful, and supportive”—or whatever you’re seeking.
You may need to search further, wider, deeper, and longer, but when you finally come across them you will know precisely that they’re ”the one.”
Some goes for the mobile home park (MHP) space. We only want to acquire “the one” (so to speak) that meets our purchase criteria.
Here are the mobile home park acquisition criteria we use at my company, PropertyWorkz.
Quick disclosure: Before we dig in here, it’s important I point out that I’m simply sharing our criteria for educational purposes. The aim of this article is to equip you with some key considerations to ponder while you ultimately create your own MHP purchase criteria based off your specific circumstances, needs, available resources, and confidence/experience level.
Keep reading the article here: https://www.biggerpockets.com/blog/evaluate-mobile-home-park
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