Looking at a park with water meter access issues. The current owner has a work around atm (trap door under the house) but per conversations with the city they need to either move the home and get a plumber to move the meter OR leave the home as is and trench down which would be much more costly. Wondering if anyone can give me estimates from your own experience on how much it would cost to move a home within the same park, most likely just to the next lot over. Also, is this a one day job? Unfortunately, I do not know the size of the home yet.

Has anyone completely demoed a park in phases? I had a deal brought to me in Texas in an awesome area. I’ve seen some rough parks, but this is a complete junkyard. 11 occupied POHs and 24 vacant homes. This park is in a growing area and down the street from 5 mobile home dealers (2 of which I personally know and used to work with.) My thought would be to slowly demo the homes, restructure the pads and work with the dealers to fill the pads. I’m just not sure how I would get a loan on this property? Any thoughts here?

When underwriting a park where the list price is around $2.5M, but the deal realistically pencils closer to $2M with 25–30% down, are there a lot of buyers out there still purchasing at the $2.5M price by raising outside capital and putting more like 40% (or more) down to make the numbers work? As an individual doing deals solo, that’s not really feasible since one person would have to bring a large amount of cash to the table to make the deal move. But if you’re using other people’s capital, you could potentially justify paying a higher price while still covering the monthly debt service. Is that essentially the transition point for acquiring larger parks in the 25–40 pad range—moving from purely personal capital to raising equity in order to compete at higher prices?

Has anyone bought a park with a handful of POH and been able to keep the titles out of bank collateral? I’d like to be able to get clear title to the homes at closing so that I can sell them quickly and recoup some of my down payment.

How do you mitigate against the risk of a huge property tax increase? The property I’m looking at won’t get reassessed just because it sold, but the county could theoretically call for a county-wide reassessment any time. This property hasn’t been reassessed in 30 years, and the assessed value is extremely low. But I assume the assessed values of all the properties county-wide are low, relative to their market values (since they haven’t been reset in 30 years). So how can I predict what my taxes will go up to if/when the county does reassess?