Closing the year out with a bang · Mobile Home Park Mastermind

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Closing the year out with a bang

2 parks under contract with 2 more possible. 100 total lots in a prime msa. The parks are both broker deals brought to me by 2 doff brokers. Less than 5 minutes from each other. Mixed utilities at both, wwtp, oxi pond, well, city water direct, direct trash and dumpsters so a little bill back to clean up the expense side. Existing lot rent is 350 with day one at 425 in a 450-500 market. Low numbers of poh and high occupancy. 3.7m.

So far this year I've closed on 5 parks. 3 more are in the appraisal process and should close in early October or early November. It's quite possible I close 12 parks this year if I can talk 2 sellers into seller carry. Both are open to it so fingers crossed. Total possible is 645 lots added this year. We've raised over 4m with another 1m probable by year end. I have bought 3 parks solely with personal funds and hopefully will add the 2 seller carry deals to that total. The rest are syndicated.

This is a great business to be in whether you have one or 100.

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