Ep. 141 | Pros and Cons of Buying A Small Mobile Home Park

This week's episode is about the pros and cons of owning a small mobile home park. Ferd Niemann shares the pros and cons of buying a small mobile home park. While some pros exist such as getting a chance to connect with tenants on a more personal level, cons also do exist such as not having the ability to hire a full time property manager. In addition to this discussion of contrast between the two, Ferd also weighs in by using his personal experience as a small mobile home park owner and addresses the problems that he faced and had overcome.

Highlights of the episode:

00:20 - What Is A small park01:21 - Initial Cons of owning a small park03:24 - Paying The Park In Cash03:40 - Not having a full time manager03:52 - Finding at a higher cap rate 05:00 - Easier to Zone05:23 - Less tenants equal less headaches05:34 - 1 vacant unit will be a big hit to the business06:06 - Getting more personal with the tenants06:34 - Issues with scaling07:53 - Conclusion

Notable Quotes

“In general, smaller parks are going to cost less, it’d be cheaper and require less cash.” - Ferd Niemann“It may be a nice trial park, depending on where you are financially.” - Ferd Niemann“You could know all the tenants by name” - Ferd Niemann

Connecting with MHP Law:

Website: https://themobilehomelawyer.com/Facebook: https://www.facebook.com/The-Mobile-Home-Park-Lawyer-103814958118069LinkedIn: https://www.linkedin.com/in/themhplawyer-ferdniemann6923147/Instagram: https://www.instagram.com/themhplawyer

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