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The MHP Pros Mastermind
111 members • $97/month
Mobile Home Park Mastermind
908 members • Free
101 contributions to The MHP Pros Mastermind
2 likes • 9d
Idk if it tops yours, but this was a single guy, big tool man and pawn shop. I’m surprised the floor held all this time. I’ll eventually make a post but yea showed a little before and after
2 likes • 2d
Currently got this one I’m deciding on selling likely, or make the family clean up so I can raise rent to market .
Apr 6 •
Refinancing
I am looking at a small park (10 lots) where 5 lots are RV spaces and 5 lots are park owned mobile homes. I'm talking to the owner about seller financing with a low down payment (~90% LTV) and likely 5-7 years before a balloon payment. My question is if I will have a very difficult time refinancing out of this when the time comes because from what I understand, bank lenders only count lot rent and since it's a 50/50 mixed use park between RVs and MHs, they may exclude the RV income entirely. Is this true?
3 likes • 30d
I would call local lenders around you to get a better idea. But I think most even with rv lots will take a look at the books and see your long term occupancy of the lots by mobile homes and still give a value for the income. One thing to think about is the price you are getting it for work with just refinancing based on just the 5 lots.
Mar 26 •
Section 8?
Has anyone bought a park with all Section 8 tenants? How does that work through the sale? Would you be concerned in buying a park that makes a lot of sense on Section 8, but not sure how well it might do if it wasnt for Section 8, if that makes sense?
2 likes • Mar 27
Yes definitly wanna have escape plans and think about bank financing down the road for yourself or future buyers if not cash/seller financing.
2 likes • Mar 30
@Jordan McCoy great thing with section 8 you can just look at the fair market rent for that county and raise pretty close to it and they will say yes or no. In my county it’s above fair market rent by a couple hundred dollars.
Mar 26 •
When sending PSA, how long do you give seller to review offer?
Curious as to what is industry standard? TY
4 likes • Mar 27
Depends on the seller and how they responded to you. If you offer was just a dart at a wall or actual interest. I have a seller who I meet/see every month for the past year and a half lol(real estate meetup). I know they were talking selling last year and I was pretty hot and heavy and could tell that dosent work with this seller/ (was fixing park up first). Didn’t say anything about it for the first three months of this year. Finally brought it up again this year and finally selling it confirmed this year after they fix up ONE final unit before taking it to market( to me 😉) Meeting a different set of sellers tomorrow, just they are seperate partners and one has little kids and the flu going around, has pushed the talk between the partners off for a couple days. So it wasn’t my offer just life lol
Mar 1 •
Spanish
Curious how many operators speak Spanish? As I eat here at a Mexican restaurant and think about my tenant base. I feel like it would be a huge plus for tenants and labor market. My dad also learned/speaks some Spanish:understands a good amount just because the tenants.
Poll
4 members have voted
2 likes • Mar 2
@Michael Pansolini that’s a pretty awesome requirement/ team.
1 like • Mar 2
@Caleb Hogan 🙌
1-10 of 101
@connor-cogdill-2530
MHP Enthusiast, I own a small 6 pad park. I am looking to acquire more parks around Asheville NC
Active 2h ago
Joined May 10, 2025
Asheville, NC
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