Update on MHP #1 2013 Offer

If you’ve been following this blog you know we made an offer on a mobile home park in N. California a few weeks ago (referenced as MHP #1 2013.)  I learned late last week a buyer and the seller came to terms and the property is in escrow.   Although the property was still a value at the listing price of $1.8M (our $1.4M offer was not accepted), I didn’t have sufficient resources to take down the deal without partners.  So, last week I started several good conversations with folks who have previously expressed an interest in partnering on a MHP deal.   Over the next month I hope to qualify our first set of partners, review the process for evaluating an opportunity and explain the key terms of the operating (partnership) agreement.  Finally, remember what I said about offers, it’s best to be the first or last so perhaps we will get another shot at MHP #1 2013 in the next 30 days!

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About John Vashon

I own a family business that invests in and manages our own portfolio of mobile home parks.
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