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There are many good reasons to choose to live in a mobile home and one of the major ones is affordability. However, there are five major things to consider before moving forward with your purchase. When you drive by a mobile home park, whats the first thing that comes to mind? Is it the popular movie 8-Mile starring Eminem? Or maybe you just recoil in horror imagining what life would be like if you had to live there. Well, when I drive by a park, I think of economic security.
Like most real estate the Seller usually wants too much and the purchaser wants to pay too little for a mobile home park. Certain buyers may have different motivations for buying a certain park such as money, ability to obtain better financing, conversions to other uses, and location to where they live. In this book we will only look only at the value of a mobile home park for the typical buyer who will continue to operate it as a mobile home park.