Mobile Home Park Underwriting 101: How To Calculate Real Value and Find Profitable Deals | EP 92

In episode #92 of the MHP Show podcast, I deliver a comprehensive breakdown of mobile home park underwriting fundamentals - the essential skill every successful investor must master. Using a real 26-pad Florida deal as a case study, I reveal how to gather critical data from sellers, calculate accurate expense ratios based on different utility setups (direct-billed, master-metered, private utilities), and properly value various park assets including park-owned homes, vacant lots, and RV spaces. You'll learn multiple mobile home park valuation methods including cap rate analysis, price-per-pad metrics, the 1% rule, and cash-on-cash return calculations - giving you a complete framework for evaluating mobile home park opportunities in any market.

Key Takeaways:

• Private utilities (wells, septic, wastewater treatment plants) significantly impact your expense ratio - learn the specific percentages for each setup
• Conservative approach to park-owned homes: Why valuing them at lot rent levels protects your investment
• How to analyze deals using multiple metrics: cap rate calculations, price per pad benchmarks, 1% rule applications, and projected cash-on-cash returns
• The importance of experience in mobile home park underwriting: "You'll be more confident when you understand the numbers through repetition"

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