MobileHomeUniversity – Mobile Home Park Due Diligence Manual

Question and Answer

What is 30 Days of Successful Due Diligence?

30 Days of Successful Due Diligence is on Mobile Home ParksDON’T RUIN YOUR LIFE!CONSULT THE MOBILE HOME PARK “DUE DILIGENCE EXPERTS”We have now literally written the instruction manual on it!Dear Fellow Investor,Many people who purchase their first mobile home park investment grind it out, paying for the “privilege” of being in the mobile home park business with every hour of their day, and every ounce of their energy.And guess what?.

How does 30 Days of Successful Due Diligence RUIN?

30 Days of Successful Due Diligence on Mobile Home ParksDON’T RUIN YOUR LIFE!CONSULT THE MOBILE HOME PARK “DUE DILIGENCE EXPERTS”We have now literally written the instruction manual on it!Dear Fellow Investor,Many people who purchase their first mobile home park investment grind it out, paying for the “privilege” of being in the mobile home park business with every hour of their day, and every ounce of their energy.And guess what?

What is these mobile home parks?

these mobile home parks is Many of do not work as expected – their owners do… And they spend hours and hours spinning their wheels… doing the WRONG things, for the WRONG reasons.Bottom line, if you want to get into the business and not make mistakes that could end up costing you thousands, if not hundreds of thousands of dollars and wasted time and energy, and if you are open and honest about this “reality check” then we are giving you a chance to wiggle free from this trap you have burrowed yourself into… or are about to dig yourself into.Now… how do you know if you are “trapped” or “will soon be trapped”?Well, simply check off any of these thoughts that may have crossed your mind from time to time:“Does this mobile home park actually make as much money as the owner has reported it does?.

How does these mobile home parks do not work?

Many of these mobile home parks do not work as expected – their owners do… And they spend hours and hours spinning their wheels… doing the WRONG things, for the WRONG reasons.Bottom line, if you want to get into the business and not make mistakes that could end up costing you thousands, if not hundreds of thousands of dollars and wasted time and energy, and if you are open and honest about this “reality check” then we are giving you a chance to wiggle free from this trap you have burrowed yourself into… or are about to dig yourself into.Now… how do you know if you are “trapped” or “will soon be trapped”?Well, simply check off any of these thoughts that may have crossed your mind from time to time:“Does this mobile home park actually make as much money as the owner has reported it does?

What is the owner?

the owner is Is cooking the books?”“How do I check on the water lines or sewer lines?”“How do I check on the market?”“What questions should I ask the seller?.

How does the owner Is?

Is the owner cooking the books?”“How do I check on the water lines or sewer lines?”“How do I check on the market?”“What questions should I ask the seller?

What is The electrician?”“What?

The electrician?”“What is about all those Park Owned Mobile Homes?”“Am I missing something?”“What will I do if (fill in the blank)?”“I wish there was someone else that could help me?.

How does The electrician?”“What will?

The electrician?”“What about all those Park Owned Mobile Homes?”“Am I missing something?”“What will I do if (fill in the blank)?”“I wish there was someone else that could help me?

What is this stinks!?”We?

this stinks!?”We is have covered it all in this manual.Now, how many times after you made a mistake did you hear or think “You should learn from your mistakes” or “I won’t ever do that again”?Frank and I have definitely done this many times..

How does this stinks!?”We have covered?

this stinks!?”We have covered it all in this manual.Now, how many times after you made a mistake did you hear or think “You should learn from your mistakes” or “I won’t ever do that again”?Frank and I have definitely done this many times.

What is someone?

someone is But there was never there to steer us in the right direction.Instead of wasting time and potentially thousands of dollars wouldn’t it be nice to keep that hard earned money and make a wise investment?Instead of learning from your Mistakes… why not avoid making them in the first place?So let us ask you –Do you want to invest in the right Mobile Home Park and not regret it later?Do you know how to determine if the park is a “Deal” or “No Deal”?Are you sure you have not missed something?Are you ready to get some advice from an unbiased and experienced third party?Included in this manual is a day by day schedule that will help you plot our your strategy and schedule everything in the most cost effective manner.Here is an excerpt from the beginning of the book.This manual is designed to give you a roadmap, from start to finish, in achieving a successful due diligence examination of a mobile home park.Since the failure of any one step of due diligence might result in your decision not to buy the park, we have organized the order of steps in such a manner as to minimize expense and effort..

How does someone was never?

But there was never someone there to steer us in the right direction.Instead of wasting time and potentially thousands of dollars wouldn’t it be nice to keep that hard earned money and make a wise investment?Instead of learning from your Mistakes… why not avoid making them in the first place?So let us ask you –Do you want to invest in the right Mobile Home Park and not regret it later?Do you know how to determine if the park is a “Deal” or “No Deal”?Are you sure you have not missed something?Are you ready to get some advice from an unbiased and experienced third party?Included in this manual is a day by day schedule that will help you plot our your strategy and schedule everything in the most cost effective manner.Here is an excerpt from the beginning of the book.This manual is designed to give you a roadmap, from start to finish, in achieving a successful due diligence examination of a mobile home park.Since the failure of any one step of due diligence might result in your decision not to buy the park, we have organized the order of steps in such a manner as to minimize expense and effort.

What is We?

We is have chosen the order to put the items most likely to fail at the front end of your examination, to get the bad news early on and to act on it accordingly.We have organized the manual in a day-by-day manner and while this makes for good organization, not every deal is going to fit into this order and if possible you would like to have 45 or 60 days to do the diligence, or at least a provision in your contract that allows you to extend the period in case some of the third party reports are not able to be completed in thirty days..

How does We have chosen?

We have chosen the order to put the items most likely to fail at the front end of your examination, to get the bad news early on and to act on it accordingly.We have organized the manual in a day-by-day manner and while this makes for good organization, not every deal is going to fit into this order and if possible you would like to have 45 or 60 days to do the diligence, or at least a provision in your contract that allows you to extend the period in case some of the third party reports are not able to be completed in thirty days.

What is The real key?

The real key is is to make sure to complete all the steps in a complete and timely fashion.Is 30 Days of Diligence Adequate?Thirty days of diligence is an industry standard, but there is no rule that the due diligence period must be exactly thirty days..

How does The real key is?

The real key is to make sure to complete all the steps in a complete and timely fashion.Is 30 Days of Diligence Adequate?Thirty days of diligence is an industry standard, but there is no rule that the due diligence period must be exactly thirty days.

What is the longer the diligence period,?

the longer the diligence period, is Of course, the better it will be for you, the buyer..

How does the longer the diligence period, will be?

Of course, the longer the diligence period, the better it will be for you, the buyer.

What is Sixty days?

Sixty days is is far superior to thirty if you can get it..

How does Sixty days is?

Sixty days is far superior to thirty if you can get it.

What is you?

you is And, of course, can’t get it unless you ask for it..

How does you can’t get?

And, of course, you can’t get it unless you ask for it.

What is Most people?

Most people is ask for thirty days because they are afraid that sixty days will scare the seller off, and less than thirty is way too short..

How does Most people ask?

Most people ask for thirty days because they are afraid that sixty days will scare the seller off, and less than thirty is way too short.

What is I?

I is That being said, have done fourteen days of diligence on deals that I really wanted but that had a difficult seller..

How does I being said,?

That being said, I have done fourteen days of diligence on deals that I really wanted but that had a difficult seller.

What is Less?

Less is than fourteen days and you may just be wasting your time, since it is near to impossible to get a lot of third party reports completed that quickly, not to mention just the regular stuff that you perform yourself..

How does Less may just be wasting?

Less than fourteen days and you may just be wasting your time, since it is near to impossible to get a lot of third party reports completed that quickly, not to mention just the regular stuff that you perform yourself.

What is you?

you is If are willing to forfeit your earnest money, then you can go as short as you want, and then walk the deal prior to closing, at the end of the financing period, if you don’t want it after all.If you have not completed your diligence in the required amount of time, say thirty days, it is sometimes possible to get the seller to give you an extension of time..

How does you are willing?

If you are willing to forfeit your earnest money, then you can go as short as you want, and then walk the deal prior to closing, at the end of the financing period, if you don’t want it after all.If you have not completed your diligence in the required amount of time, say thirty days, it is sometimes possible to get the seller to give you an extension of time.

What is the case,?

the case, is If that is the best way to get the extension is to meet with the seller and show him all of the work you have performed, so that he knows that your request is legitimate..

How does the case, is?

If that is the case, the best way to get the extension is to meet with the seller and show him all of the work you have performed, so that he knows that your request is legitimate.

What is you?

you is When propose such an extension to the seller, he is normally concerned that you are just wasting his time, and that you have no intention of buying it, or that you lack the money..

How does you propose?

When you propose such an extension to the seller, he is normally concerned that you are just wasting his time, and that you have no intention of buying it, or that you lack the money.

What is It’s?

It’s is your job to convince him that you can close, and will close, if he just gives you a few more days to complete your diligence..

How does It’s convince?

It’s your job to convince him that you can close, and will close, if he just gives you a few more days to complete your diligence.

What is you?

you is And can even tell him what you have left to do, so that he knows you are not pulling his leg..

How does you can even tell?

And you can even tell him what you have left to do, so that he knows you are not pulling his leg.

What is he?

he is If says no, and you really want the deal and feel 99% positive it will work for you, you may elect to go forward anyway, and risk losing your earnest money if you walk before closing..

How does he says?

If he says no, and you really want the deal and feel 99% positive it will work for you, you may elect to go forward anyway, and risk losing your earnest money if you walk before closing.

What is the contract?

the contract is Make sure that does not require “specific performance” to buy the park. In that event, you cannot go past the diligence period without having to buy the park, even if you don’t want it..

How does the contract Make sure?

Make sure that the contract does not require “specific performance” to buy the park. In that event, you cannot go past the diligence period without having to buy the park, even if you don’t want it.

What is You?

You is never want to sign a contract with specific performance in it for the buyer..

How does You never want?

You never want to sign a contract with specific performance in it for the buyer.

What is The seller,?

The seller, is on the other hand, should almost always face specific performance if he fails to consummate the sale to you.Diligence periods in excess of sixty days are pretty unheard of, except in cases of extreme lack of park stability, such as not having any books, rent roll, etc. For example, it would not be unusual to ask more than 60 days to sort out bank foreclosure..

How does The seller, should almost always face?

The seller, on the other hand, should almost always face specific performance if he fails to consummate the sale to you.Diligence periods in excess of sixty days are pretty unheard of, except in cases of extreme lack of park stability, such as not having any books, rent roll, etc. For example, it would not be unusual to ask more than 60 days to sort out bank foreclosure.

What is that type?

that type is However, except in of difficult environment, you will probably do some degree of damage to your reputation by asking for more than sixty days of diligence.You will find in the due diligence process that there is no perfect park..

How does that type will probably do?

However, except in that type of difficult environment, you will probably do some degree of damage to your reputation by asking for more than sixty days of diligence.You will find in the due diligence process that there is no perfect park.

What is successful due diligence?

successful due diligence is While will help you formulate an idea on the true economics and risks of a mobile home park, it will still ultimately be your business decision as to whether or not to proceed with the purchase..

How does successful due diligence will help?

While successful due diligence will help you formulate an idea on the true economics and risks of a mobile home park, it will still ultimately be your business decision as to whether or not to proceed with the purchase.

What is the data,?

the data, is Often, after assembling all of you will still be unsure as to whether or not you want to proceed..

How does the data, assembling?

Often, after assembling all of the data, you will still be unsure as to whether or not you want to proceed.

What is you?

you is This manual only helps to collect that data..

How does you helps?

This manual only helps you to collect that data.

What is The decision?

The decision is to go forward is one that you will have to make on your own.We receive more questions on due diligence than on virtually any other topic at MobileHomeParkStore.com and have written this manual to address those questions in great detail..

How does The decision go?

The decision to go forward is one that you will have to make on your own.We receive more questions on due diligence than on virtually any other topic at MobileHomeParkStore.com and have written this manual to address those questions in great detail.

What is you?

you is If follow all of the guidelines in this manual, you should be able to perform a satisfactory due diligence examination.If this is your first park or you are looking for a second opinion we offer consultation on deal review and due diligence..

How does you follow?

If you follow all of the guidelines in this manual, you should be able to perform a satisfactory due diligence examination.If this is your first park or you are looking for a second opinion we offer consultation on deal review and due diligence.

What is You?

You is can check out the various programs on www.mobilehomeparkstore.com.Good luck on your due diligence!Frank Rolfe & Dave ReynoldsBEFORE YOU STARTTO DO LISTPurchase ContractDue Diligence ClauseList of Items to Request from SellerYour Purchase ContractOne of the most important items that you will need to have is a good purchase contract that has been reviewed by your attorney..

How does You can check out?

You can check out the various programs on www.mobilehomeparkstore.com.Good luck on your due diligence!Frank Rolfe & Dave ReynoldsBEFORE YOU STARTTO DO LISTPurchase ContractDue Diligence ClauseList of Items to Request from SellerYour Purchase ContractOne of the most important items that you will need to have is a good purchase contract that has been reviewed by your attorney.

What is a purchase contract?

a purchase contract is Don’t ever just take you find on the internet or receive from the seller or seller’s broker and sign it without first having your attorney review it.A good purchase contract will have, at a minimum, the following:Full and Correct Legal Name of Seller (the correct name or company)Name of Purchaser and right of Purchaser to Assign Contract to an entity owned by PurchaserLegal Description and Address of the PropertyDescription of Personal Property to be Included with SalePurchase Price and TermsHow Prorations are HandledRight of Purchaser to Conduct Due Diligence for a Period of at least 30 DaysRight of Purchaser to Cancel and Receive a Refund of the Earnest Money and be Released from the Contract for any Reason during the Diligence PeriodRight of Purchaser to Cancel and Receive a Refund of the Earnest Money and be Released from the Contract if Financing cannot be Obtained at Reasonable Terms Approved by Purchaser.Who Pays for What: Survey, Appraisal, Title Policy, Phase I, Closing Costs, Broker’s Commission, etc.Date of Closing and PossessionRepresentations of SellerRepresentations of PurchaserAcceptance DeadlineSignature BlockIn the past I have provided a copy of the contract that I use to buy mobile home parks and if you would like a copy of my contract, I am more than happy to send a copy to you with the understanding that before you use it that you will have it reviewed by your attorney.Due Diligence ClauseIn your purchase contract you want to make sure that you have a good due diligence clause..

How does a purchase contract Don’t ever just take?

Don’t ever just take a purchase contract you find on the internet or receive from the seller or seller’s broker and sign it without first having your attorney review it.A good purchase contract will have, at a minimum, the following:Full and Correct Legal Name of Seller (the correct name or company)Name of Purchaser and right of Purchaser to Assign Contract to an entity owned by PurchaserLegal Description and Address of the PropertyDescription of Personal Property to be Included with SalePurchase Price and TermsHow Prorations are HandledRight of Purchaser to Conduct Due Diligence for a Period of at least 30 DaysRight of Purchaser to Cancel and Receive a Refund of the Earnest Money and be Released from the Contract for any Reason during the Diligence PeriodRight of Purchaser to Cancel and Receive a Refund of the Earnest Money and be Released from the Contract if Financing cannot be Obtained at Reasonable Terms Approved by Purchaser.Who Pays for What: Survey, Appraisal, Title Policy, Phase I, Closing Costs, Broker’s Commission, etc.Date of Closing and PossessionRepresentations of SellerRepresentations of PurchaserAcceptance DeadlineSignature BlockIn the past I have provided a copy of the contract that I use to buy mobile home parks and if you would like a copy of my contract, I am more than happy to send a copy to you with the understanding that before you use it that you will have it reviewed by your attorney.Due Diligence ClauseIn your purchase contract you want to make sure that you have a good due diligence clause.

What is Here?

Here is is a copy of the clause that I have in my contract:PURCHASER’S RIGHTS OF INSPECTION, LOAN APPROVAL, AND CANCELLATION.(a) PURCHASER may inspect or cause to be inspected the condition of the Real Estate and all improvements and Personal Property;(b) PURCHASER may inspect or cause to be inspected all other documents and materials relating to the Real Estate and Personal Property;(c) Within seven (7) days after the effective date of this agreement PURCHASER shall make a written request of SELLER to deliver all documents and materials needed from SELLER for inspection and evaluation..

How does Here is?

Here is a copy of the clause that I have in my contract:PURCHASER’S RIGHTS OF INSPECTION, LOAN APPROVAL, AND CANCELLATION.(a) PURCHASER may inspect or cause to be inspected the condition of the Real Estate and all improvements and Personal Property;(b) PURCHASER may inspect or cause to be inspected all other documents and materials relating to the Real Estate and Personal Property;(c) Within seven (7) days after the effective date of this agreement PURCHASER shall make a written request of SELLER to deliver all documents and materials needed from SELLER for inspection and evaluation.

What is request?

request is Upon receiving this written from PURCHASER, SELLER shall deliver any such documents or materials requested within seven (7) days of PURCHASER’S request;(d) After all documents and materials have been delivered to PURCHASER, PURCHASER may cancel this Agreement for any reason, at the sole discretion of PURCHASER, within Thirty (30) days after receiving all documents and materials from SELLER..

How does request receiving?

Upon receiving this written request from PURCHASER, SELLER shall deliver any such documents or materials requested within seven (7) days of PURCHASER’S request;(d) After all documents and materials have been delivered to PURCHASER, PURCHASER may cancel this Agreement for any reason, at the sole discretion of PURCHASER, within Thirty (30) days after receiving all documents and materials from SELLER.

What is the initial Thirty (30) day inspection period,?

the initial Thirty (30) day inspection period, is After PURCHASER may cancel this Agreement during the next Thirty (30) day period in the event that PURCHASER does not obtain a loan approval for the purchase of the Real Estate and Personal Property that is satisfactory to PURCHASER, and the determination of an acceptable loan shall be in the PURCHASER’S sole discretion.(e) In the event that any Third Party Reports are required by Purchaser or Purchaser’s lender, and these Third Party Reports are not completed during this initial thirty (30) day inspection period, the inspection period will automatically be extended for an additional thirty (30) day period and PURCHASER shall have the same rights of cancellation as PURCHASER has during the initial thirty (30) day inspection period.SELLER shall allow PURCHASER, or PURCHASER’S representatives, access or provide documents for review, whichever the case may be, to the Real Estate and Personal Property, at all reasonable times and cooperate with PURCHASER’S efforts to conduct the inspections permitted herein.Who are Frank Rolfe & Dave Reynolds?Frank Rolfe and Dave Reynolds rank as the 5th largest owner of mobile home parks in the U.S., with over 16,000 lots..

How does the initial Thirty (30) day inspection period, may cancel?

After the initial Thirty (30) day inspection period, PURCHASER may cancel this Agreement during the next Thirty (30) day period in the event that PURCHASER does not obtain a loan approval for the purchase of the Real Estate and Personal Property that is satisfactory to PURCHASER, and the determination of an acceptable loan shall be in the PURCHASER’S sole discretion.(e) In the event that any Third Party Reports are required by Purchaser or Purchaser’s lender, and these Third Party Reports are not completed during this initial thirty (30) day inspection period, the inspection period will automatically be extended for an additional thirty (30) day period and PURCHASER shall have the same rights of cancellation as PURCHASER has during the initial thirty (30) day inspection period.SELLER shall allow PURCHASER, or PURCHASER’S representatives, access or provide documents for review, whichever the case may be, to the Real Estate and Personal Property, at all reasonable times and cooperate with PURCHASER’S efforts to conduct the inspections permitted herein.Who are Frank Rolfe & Dave Reynolds?Frank Rolfe and Dave Reynolds rank as the 5th largest owner of mobile home parks in the U.S., with over 16,000 lots.

What is They?

They is have been in the mobile home park business for almost two decades, and have bought and sold over $500,000,000 of mobile home parks during that time..

How does They have been?

They have been in the mobile home park business for almost two decades, and have bought and sold over $500,000,000 of mobile home parks during that time.

What is a result of this experience,?

a result of this experience, is As they have become very experienced in locating, negotiating, performing due diligence, financing, turning-around and operating mobile home parks..

How does a result of this experience, have become very?

As a result of this experience, they have become very experienced in locating, negotiating, performing due diligence, financing, turning-around and operating mobile home parks.

What is It?

It is is this wealth of information — and the insider secrets, tricks and shortcuts that they have devised — that they deliver in their courses and boot camps.Get Download MobileHomeUniversity – Mobile Home Park Due Diligence Manual at Forimc.net today!Salepage: https://www.mobilehomeuniversity.com/mobile-home-park-investing-books-and-courses/mobile-home-park-due-diligence-manual.phpArchive: https://archive.ph/j9yGxDelivery Method– After your purchase, you’ll see a View your orders link which goes to the Downloads page..

How does It is?

It is this wealth of information — and the insider secrets, tricks and shortcuts that they have devised — that they deliver in their courses and boot camps.Get Download MobileHomeUniversity – Mobile Home Park Due Diligence Manual at Forimc.net today!Salepage: https://www.mobilehomeuniversity.com/mobile-home-park-investing-books-and-courses/mobile-home-park-due-diligence-manual.phpArchive: https://archive.ph/j9yGxDelivery Method– After your purchase, you’ll see a View your orders link which goes to the Downloads page.

What is Here,?

Here, is you can download all the files associated with your order..

How does Here, can download?

Here, you can download all the files associated with your order.

What is – Downloads?

– Downloads is are available once your payment is confirmed, we’ll also send you a download notification email separate from any transaction notification emails you receive from esygb.com..

How does – Downloads are?

– Downloads are available once your payment is confirmed, we’ll also send you a download notification email separate from any transaction notification emails you receive from esygb.com.

What is it?

it is – Since is a digital copy, our suggestion is to download and save it to your hard drive..

How does it is?

– Since it is a digital copy, our suggestion is to download and save it to your hard drive.

What is the link?

the link is In case is broken for any reason, please contact us and we will resend the new download link..

How does the link is broken?

In case the link is broken for any reason, please contact us and we will resend the new download link.

What is you?

you is – If cannot find the download link, please don’t worry about that..

How does you cannot find?

– If you cannot find the download link, please don’t worry about that.

What is We?

We is will update and notify you as soon as possible at 8:00 AM – 8:00 PM (UTC+8).Thank You For Shopping With Us!.

How does We will update?

We will update and notify you as soon as possible at 8:00 AM – 8:00 PM (UTC+8).Thank You For Shopping With Us!

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