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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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