I finally did it. I closed on my first mobile home park in Nebraska. Multiple offers sent, in and out of contract on several deals, two extended closing dates… and I finally did it. Wild journey… lots of failures along the way that I’ll share more about… but I did it. And raised 100% of the capital needed. I couldn’t be more proud. Huge thanks to @Ryan Narus and @Michael Pansolini for their mentorship program, community, and most of all their friendship. Park #2 is not too far away…

Is NC 30 day or 60 notice? I thought you only needed/required a 30-day notice. What Claude said-(First day using Claude instead of Chatgpt :)) For general NC month-to-month leases: The notice period for a rent increase on a month-to-month lease is typically 30 days. Legislative Reporting Service But for your MHP specifically: Under the North Carolina Mobile Home Park Act, landlords must provide mobile homeowners with a minimum of 60 days written notice before increasing rent. Zook Cabins So it actually depends on which type of tenant you're dealing with: Tenant who owns their home, rents the lot from you → 60-day rent increase notice (MHP Act applies) Tenant who rents the home AND lot from you → this gets murkier, but to be safe 30 days is the floor, and 60 is the safer choice since the lot is still involved My recommendation: keep 60 days in the lease for all rent increases. It's the safer, more defensible position and it actually helps you too — it gives you time to handle pushback or turnover gracefully. Would you like me to update the lease to clarify this distinction, or leave it at 60 days across the board?

Is it typical for the buyer and seller to split closing costs 50/50?

Hi folks, I just joined to get more educated about owning MHPs. I own a small industrial property that I bought on seller finance and am self-managing. Now, I have turned my attention to property in areas farther from where I live (northern Virginia) in order to find better returns. I’m excited to get to know you all! Lastly, I am open to investing small-ish checks as an LP if you are raising money for a deal. I have learned a lot about other businesses doing that.