RCRE – Cracking Mobile Home Parks with Ekatarina Stepanova
Will Coleman and Mike Taravella interview Ekatarina Stepanova of M2K Partners.
Key Information:
- Mobile home parks are divided into lots which have homes owned by either the park or the tenants.
- Mobile homes are considered personal property and not real estate.
- When underwriting mobile home parks, only underwrite the lots and do not include the homes.
- Banks typically do not lend on homes in parks because of their rapid depreciation.
- Look to optimize the infrastructure in the park: septic tanks, clubhouse, roads.
- If possible utilize the city in regards to sewer, water, and electricity.
Good Resource: the Mobile Home Park University website
Expert Pro Tip: “Complete 3 Important Tasks Each Day!”
Contact Information:
MHP Tribe – facebook group
Mhpteam.com
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