Curious, an all POH parks do banks look at a leases that say lot rent 800 mobile home rent 400. Total $1,200. Then lend accordingly. I know @Michael Pansolini you were tossing this idea at one point. I assume it all depends on how the lender thinks about it. @Michael FitzGerald

First LOI submitted on a park in NY! 😬😅

Well. It finally happened. And wouldn’t you know, I had a tenant calling me about something as I’m signing the dang papers! Here’s to the first of (hopefully) many more to come. Thanks to everyone for the support and encouragement.

Hello Everyone, I am joining because I’m looking to grow with like minded people. I grew up in the mobile home park business in Asheville NC. I own a small 6 pad park with my brother and am looking to buy another park around Asheville. My goals for this group are networking, learning how to better analyze these park deals with outside debt stacks other then basic seller financing. I also really just want to learn how to scale a team where it’s not just you for every part of the day to day of owning and running your business. Every owner I talk to, even my parents, all just grow as big as they can and fix everything all themselves, so would be nice to talk to people without those limits. All these owners do have quite a lot of POHs but still, I don’t want to be limited that it can’t be handled by a third party .

Went under contract yesterday on my first park since joining the group. Smaller park but getting the ball rolling. Still figuring out the deal analyzer and some other underwriting/due diligence items but usually learn best by taking action. Quick park bullet points: Morganton, NC - purchase price - 435k 18 permitted spaces 4 TOH 5 rented POH 2 vacant POH 7 vacant lots City water, 2/1 septic systems Current lot rent $300 Goal is to buy 100 spaces this year. Any and all feedback welcome while working through the rest of the course.