What are the risks I’m not accounting for when underwriting in this state?

Who lives somewhere that feels overpriced / lack of deals / impossible to invest in? Where do you currently live and what is your biggest hurdle to getting your first park or expanding your portfolio?

When underwriting POHs and working stabilization to convert those to RTO, what is a realistic ratio of homes to convert? Currently looking at a park with 14 POH, is it too ambitious to think half of these can turn RTO in 5 years? What are people's experience with converting to RTO, any tips or strategies? I understand this depends heavily on the tenant base, income etc.

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…

Hey everyone, I wanted to share something I’ve found very helpful this week. If you download the Claude AI app and sign up for the $20 per month plan, you get access to Anthropic’s Opus 4.7 version. Once you select Opus 4.7, you go into the “projects” tab and start a new project named after the park you’re working on. Projects allow you to upload a massive number of documents, more than you are able to put in a chat. You will have a separate subset of chats within the project and they will all remember everything from the documents you uploaded. Today I put a contract as well as 48 due diligence documents into this tool. Below is the prompt that I used. I am very impressed with the results. The tool is very thorough and caught a number of things I wouldn’t have caught myself. It gave me a clean & organized 14 page document and pretty much nailed it. I have had better results with this than gemeni or grok. “Give me a thorough outline of everything I need to consider before closing on this park. When it comes to due diligence documents, what am I missing or what do I still need? Give me a list of green and red flags with estimated potential financial impacts next to the yellow and red flags. Draft an email to the seller containing an organized list of every question that needs to be resolved or answered and a request for any documents we don’t have yet Put this entire request into a word doc”