During my time in Lubbock, I had the opportunity to build some great relationships and connect with a few amazing people . One of those connections is a lender who’s involved in a different mobile home park—the same park that a seller I previously worked with is now trying to offload. That seller still technically owns the park, but he plans to step back from the deal to avoid future legal complications. The lender is in a tough spot. His team is facing a $1.2 million loss on the property, so he's open to almost any deal structure to avoid taking that hit. As it stands, the park is worth about $300,000 and requires significant infill and infrastructure upgrades. It's an old 1960s-style park with outdated clay sewer lines and ¾-inch galvanized steel water lines. Some water lines are already leaking, and the sewer system will likely need to be fully replaced within the next 3–5 years. As part of the agreement with the lender, the seller must move 20 homes into the park. He’s in a position to do this, as he recently sold another park and is relocating 15 tenant-occupied homes and another 5 homes that need renovation. This move-in process is expected to be completed within the next three months. Currently, the lot rent is $300 per unit, and the expense ratio is around 30%, which is fairly reasonable. Once the 15 occupied homes are brought in, the park’s value could increase by about $450,000 overnight, assuming a 9% cap rate. So there’s definite upside potential. That said, it’s still a heavy infill project with infrastructure challenges—and for that reason, I feel it may be too risky for a first-time park acquisition. Would love to hear your thoughts or suggestions on how you would approach this.

Hey Everyone - I joined this community back in November and have been getting through the course. I run an Ai consulting business outside of investing in real estate (raw land, land and home packages and now MHPs) so I started leverage Claude Code to help find deals in my target markets. Is anyone else experimenting with it? With a couple apis from Google Maps you can really narrow down your list.

I am about to own a couple of small mobile home parks that are seller-financed, so there’s no bank debt on them right now. Recently I was talking with a banker at Truist (formerly BB&T) — he helped my parents refinance an RV park years ago. I’ve stayed in touch with him and have asked a questions about mobile home park lending a couple times as I find deals. He’s been upfront that Truist doesn’t really do MHP loans, but in recent email he gave me a mhp loan broker connection and asked asked whether I had any operating accounts I might want to bring over. That’s where I’m a little torn. On one hand, I don’t fully understand the upside of moving a park’s operating account to a bank that can’t lend on my asset class, even if I like the banker personally. On the other hand, I’m thinking it might make more sense to intentionally place one of these small seller-financed park accounts with a local or regional bank that does lend on mobile home parks, even if I don’t need them today. That way I’d be an existing customer with operating history when the time comes to finance or refinance a larger park and they’d already know me and the cash flow. Curious how others have approached this: - Do you intentionally place deposits with banks you want future loans from? - Does having even a small operating account meaningfully help when a banker has to go to loan committee later? Appreciate any real-world experiences.

@Michael Pansolini are you linking recordings of webinars anywhere? I'm frequently not able to attend so recordings would be 👌

Please share what you have done (if anything) for compliance. Any info is appreciated. Thank you